The Economic Impact of Intensive Commodity Price Risk Management Education

Research shows that risk management, and in particular price risk management, has been a major concern for agricultural producers, and as such, has been the target area of a substantial amount of Extension education programming. Analysis of survey results indicate that the Master Marketer program, a 64-hour intensive training program that develops master volunteers who extend the education through marketing clubs, is a valuable Extension program helping producers to better-manage price and production risks. On average, graduates of the program have increased their net income by more than $33,000 annually

Cow/Calf Production Record Software.

16 p

Cow/Calf Production Record Software.

16 p

Evaluating the Accuracy of Regional Economic Impact Estimates: Considering a 2013 Beef Plant Closure in Texas

Many studies rely on regional economic impact analysis to estimate the larger effects of an event on a community, such as a plant opening or closure. However, few conduct an ex post analysis to consider how close the estimates were to actual economic events that ensued. This study examines the accuracy of a previous impact analysis of the closure of a Texas beef packing plant. The challenges of validating economic impact studies are demonstrated and several suggestions are offered for improving ex ante and ex post modeling efforts to help future researchers maintain the credibility of economic impact studies

Estimating the Value of Irrigation Scheduling

The Northern High Plains (NHP) of Texas is home to more than a million acres of irrigated crop production. The area is dependent on the Ogallala Aquifer for irrigation water that has a very minimal recharge rate which is leading to diminishing water availability making the adoption of more water efficient irrigation practices such as irrigation scheduling critical to sustaining irrigated agriculture. Corn is by far the largest user of irrigation water in the NHP. The objective of this study was to estimate the value of irrigation scheduling for corn in NHP using three-year data from the “200-12 demonstration” that had both demonstration plots (optimal irrigation scheduling followed) and side-by-side control plots (farmers’ practices followed). Production per acre-inch of irrigation from the demonstration and control plots were compared to estimate the value of irrigation scheduling. Analysis of the data indicated adding irrigation scheduling resulted in a 9.72% increase in corn yield per acre-inch applied, which resulted in a $91.22 per acre increase in net returns. Although results from individual farms varied considerably, the economic advantage of irrigation scheduling decreased over time suggesting that the producers were learning from the demonstration and implementing similar irrigation scheduling practices on their remaining land

The Role of Texas Panhandle Extension Economists in Implementing the 2014 Farm Bill

The Agricultural Act of 2014 is considered by many to be the most complicated farm bill in history, requiring both landlords and tenants to make multiple strategic choices and understand a great deal of information. This poster outlines the methods, challenges, and impacts of a successful Extension effort to provide timely educational and technical support to thousands of Texas Panhandle producers facing policy implementation decisions

Evaluating the Accuracy of Regional Economic Impact Estimates: Considering a 2013 Beef Plant Closure in Texas

Many studies rely on regional economic impact analysis to estimate the larger effects of an event on a community, such as a plant opening or closure. However, few conduct an ex post analysis to consider how close the estimates were to actual economic events that ensued. This study examines the accuracy of a previous impact analysis of the closure of a Texas beef packing plant. The challenges of validating economic impact studies are demonstrated and several suggestions are offered for improving ex ante and ex post modeling efforts to help future researchers maintain the credibility of economic impact studies

The Importance of Regional Analysis in Evaluating Agricul-tural Water Conservation Strategies

Water resources are essential for agricultural crop production, especially in semi-arid regions of the nation such as the Texas High Plains. In this region, agriculture is a major economic driver and is also the main water user while withdrawals continue to exceed the small recharge of the primary source of water, the Ogallala Aquifer. Agricultural water con-servation strategies are being considered to limit the decline of scarce resources in the region. Potential water savings and associated implementation costs are typically the primary consid-erations in evaluating strategies. However, the inclusion of a regional economic analysis can change the acceptability of conservation strategies considered. This paper examines the impacts of including regional analysis in evaluating agricultural water conservation strategies in the Panhandle Water Planning Area of Texas

Economic Feasibility of Converting Center Pivot Irrigation to Subsurface Drip Irrigation

Advancements in irrigation technology have increased water use efficiency. However, producers can be reluctant to convert to a more efficient irrigation system when the initial investment costs are high. This study examines the economic feasibility of replacing low energy precision application (LEPA) center pivot sprinkler irrigation with subsurface drip irrigation (SDI). Specifically, the changes in net investment, variable costs, and total costs related to the conversion of irrigation systems are estimated. Then, these costs are used to evaluate the necessary increase in crop yields with a SDI system under alternative crop scenarios for conversion to be economically feasible