Risk-Management Practices for Specialty-Crop Producers in California, Florida, New York, and Pennsylvania

Crop Production/Industries, Risk and Uncertainty,

THE EXPECTED COST OF AN INCOME SUPPORT PROGRAM FOR PROCESSING ORANGES

The Florida citrus industry operates in a competitive global market. However, unlike program crops, producers in this industry do not benefit from direct income support under the new Farm Bill. There is concern about the impact of elimination of the orange juice tariff on the financial health of the Florida orange industry. The purpose of this paper is to examine the level of government expenditure that would be needed to provide income support to orange producers if the orange juice tariff were eliminated. For the span of the Bill direct payments to corn are estimated to total $25.1 billion. By comparison the direct expenditures incurred for an income support program for oranges would be substantially less. In the early years with the tariff in place the expenditures are estimated to be about$300 million and would fall below $200 million by 2007. If the tariff were removed government support would initially be$925 million but would decline to about $700 million in 2007. Over the six-year period, 2002-2007, the direct payment to orange producers would be$1,538.5 million with retention of the tariff and $4,721.8 million if the tariff were eliminated.income support program, oranges, tariff, FSRIA, Agricultural and Food Policy, Crop Production/Industries,

Risk Management Practices for Specialty Crop Producers in Florida

Crop Production/Industries, Risk and Uncertainty,

REDUCING SEASONALITY IN DAIRY PRODUCTION

Livestock Production/Industries,

Practices Used by Dairy Farmers to Reduce Seasonal Production Variability

The objective of this analysis was to identify the production practices used by farmers to change seasonal production. Production practices included milk production per cow, proportion of cows milking, number of first lactation animals entering the herd, number of cows leaving the herd, number of days to first breeding, and calves born. Farms that participated in a seasonal pricing plan during 1993, 1994, and 1995 decreased production practice seasonality in response to price premiums, which caused a decrease in production seasonality compared to nonparticipating farms. Participating farms showed a preference for adjusting entering first lactation animals and number of calves born, but did make adjustments in other practices as well.Livestock Production/Industries,

Risk Management Practices for Specialty Crop Producers in California, Florida, New York, and Pennsylvania

Crop Production/Industries, Risk and Uncertainty,

Predicting Optimal Targeting Strategies in Multispecies Fisheries: A Portfolio Approach

When regulations are species specific but the species are part of a multispecies fishery, studies show that harvest rates are correlated such that net revenues attributed to each species are also correlated. This correlation suggests that portfolio theory is well suited for multispecies fisheries that exhibit joint productive characteristics. This paper uses a portfolio approach to model the behavior of fishermen faced with multiple targeting options in a random harvest fishery. The approach draws from the expected utility hypothesis and financial portfolio theory to predict optimal targeting strategies. The methodology is applied to the pelagic longline fleet operating in the U.S. Atlantic Ocean, Caribbean, and Gulf of Mexico. The model provides evidence that area closures aimed at reducing juvenile swordfish mortality will be more effective in certain regions. Efficient risk-return frontiers are also generated for use in predicting targeting behavior in lieu of a closure.fisheries economics, fisheries management, highly migratory species, multispecies fisheries, portfolio theory, swordfish, targeting strategies, Resource /Energy Economics and Policy, Q22, G11, D81, C61,

ECONOMIC ANALYSIS OF TEMIK ON CITRUS IN THE INDIAN RIVER AREA IN SOUTHEASTERN FLORIDA

Temik [R](aldicarb) is a pesticide labeled for use on several citrus crops to control rust mite, whitefly, nematode and brown citrus aphid pests. Analysis of previous research experiments indicates that this pesticide is beneficial to both orange and grapefruit production and that both cost savings and higher yields can be experienced in many types of groves. Actual grove data shows that net returns for mature grapefruit that receive Temik [R] can be $500 per acre greater than net returns for identical acreage that uses other pest control options. Also, based on grove reset data it is shown that with an application of Temik [R] the resulting increased yields for three-year-old trees more than cover the additional cost of applying the Temik [R].mature citrus, resets, revenue-cost, net return, grapefruit, Crop Production/Industries,

AN ECONOMIC EVALUATION OF LOW INVESTMENT SWINE PRODUCTION SYSTEMS

This publication summarizes an evaluation of smaller and lower investment swine production systems. The systems analyzed range from pasture operations with production during the warmer months to rather intense year-round use of remodeled buildings. In each case the system emphasizes use of facilities that can be constructed and remodeled by the farm operator. The report includes one section for each type of hog production: feeder pig production, farrow-to-finish operations and hog finishing.Livestock Production/Industries,

Financial Appraisal of the Banks for Cooperatives

This study examines the financial situation of the Farm Credit System Banks for Cooperatives using comparative analysis for the period 1978 through 1991. Profitability and leverage measures of the Banks for Cooperatives are compared with similar measures of large commercial banks. The Banks for Cooperatives were found to have performed as well as large commercial banks. Some differences can be explained as compatible with differences in the goals and objectives of a cooperative versus an investor-owned firm. Most differences can be attributed to the financial strength of the Banks for Cooperatives relative to the commercial banking industry.Agribusiness, Agricultural Finance,