Developing a multitask principal-agent model, this paper theoretically analyzes the incentive provisions in the existing cattle feeding contracts under alternative fed cattle pricing methods. Comparative statics from the theoretical model are evaluated by simulation experiments. Feedlot and...

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...

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...

Controversy surrounding confined animal feeding operations (CAFO) is becoming more commonplace. In several regions of the country CAFOs and local residents have had disputes over odors emanating from these operations. Viewing the CAFO as jointly producing products with utility (e.g., meat) and...

Replaced with revised version of paper 07/30/04.

In the recent past U.S. pork industry experienced geographical shifts in its production and processing. Some geographical areas have competitive advantages over the areas in raising pigs. Costs of raising pigs vary by type and size of operations, and other location specific factors. We used...

The primary objective of this study was to assess the impact of catfish imports and tariffs on the U.S. catfish industry, with particular focus on the U.S. International Trade Commission ruling on Vietnam in 2003. Given the importance of Vietnam to the U.S. catfish market, it was assumed that...

Prices guide economic agents’ resource allocation and output mix decisions. The extent of pricetransmission determines the nature of market integration. Volatility spill-over in spatially linkedagricultural markets has been investigated, but not across borders. We developed an E-GARCHmodel...

About 70% of the Namibian population depends on agricultural activities for their livelihood.Moreover, agriculture remains an important sector to Namibia because its national economyis widely dependent on agricultural production. Cattle producers in the Northern CommunalAreas (NCAs) have an...

This paper identifies and synthesises strategic opportunities and challenges facing New Zealand’s sheep meat and beef sector over the next 10 to 15 years. A Delphi surveydraws on the sector’s collective knowledge and identifies areas of consensus anddivergence of opinion. Using the results...