This research focuses on developing a biannual net revenue forecasting model for hog producers based on Monte Carlo simulation of the joint distribution of hog, corn and soybean meal price series. The relative forecasting power of historical volatility, implied volatility and GARCH-based...

An inverse live hog demand model was estimated to analyze claims that the live hog own quantity demand flexibility's magnitude has increased in recent years. A second objective of this research was to estimate the impact changes in processing capacity utilization rates have on live hog prices....

Policy and programmatic decisions dealing with beef exports require good information as to the impact of exports on the domestic beef industry. This paper utilizes a partial equilibrium model of the world beef market to assess the impacts on the U.S. beef sector of increases in real income in...

German hog production responds only very limited to price fluctuations in the pork market. The hog production concentrates in a few regions though it does not depend on special natural conditions. Furthermore, the production volume does hardly vary over time. Relatively high market risks, sunk...

This study develops a generic conceptual approach to modeling the livestock sector that provides better coverage of variables to ensure the consistency in the underlying biologics of the model and also provides consistent rules of specification. This approach is applied to modeling the...

The level of aggregation of reported data has limited the proper accounting of live animals in most, if not all, livestock models, making the consistency of their underlying biologics suspect. We develop an econometric methodology to decompose a wide range of aggregate data. This method is...

Many livestock sector models have limited coverage of relevant variables, and are somewhat ad hoc in their choice of what should be specified as behavioral equations. This study develops a generic conceptual approach to modeling the livestock sector that provides consistent rules of...

Infectious livestock disease creates externalities for proximate animal production enterprises. The distribution of production scale within a region should influence and be influenced by these disease externalities. Taking the distribution of the unit costs of stocking an animal as primitive, we...

The common treatment of a separate import demand specification in the literature is usually motivated by product differentiation. Most studies, however, proceed further with a separability assumption between domestic and imported product for data consideration and ease in estimation. In this...

The authors develop an expected utility model with heterogeneous individuals and apply some of the approaches developed in the energy literature to explicitly identify the public nature characteristics of susceptibility in a dynamic setting and to characterize the optimal intertemporal usage...