AN ANALYSIS OF THE EFFECTS OF FEED INGREDIENT PRICE RISK ON THE SELECTION OF MINIMUM COST BACKGROUNDING FEED RATIONS

The traditional minimum cost feed ration linear programming model is expanded to permit risk management responses to price variability associated with feeding a particular ration across time. The cost minimizing objective function also considers feed cost in a mean-variance (E-V) framework. The model is specified using NRC nutrient requirements and an historic Feedstuffs price series. A decision-maker can choose his/her optimal ration by making tradeoffs between price risk and net income. The results should provide a basis for decision tools that allow livestock producers to manage the net income risk involved in the selection of a feed ration.Marketing,

NONPARAMETRIC ESTIMATION OF MULTIPRODUCT AND PRODUCT-SPECIFIC ECONOMIES OF SCALE

Numerous studies have utilized nonparametric estimation of production efficiency but no such study focuses on multiproduct or product-specific economies of scale. A mathematical program is specified to nonparametrically estimate these measures for crops and livestock for Kansas farms. Results show that many farms would realize benefits from expansion.Industrial Organization,

The health status of Irish honeybee colonies in 2006

peer-reviewedThis study assessed the health status of Irish honeybee colonies and provides a snapshot of the incidence of a number of important colony parasites/pathogens including: the mite Varroa destructor; three associated viruses (deformed wing virus (DWV), acute bee paralysis virus (ABPV) and Kashmir virus (KBV)); the tracheal mite Acarapis woodi; the microsporidian Nosema spp., and the insect Braula coeca. During June/July 2006, 135 samples of adult bees were collected from productive colonies throughout Ireland and standard techniques were used to determine the presence and absence of the parasites and pathogens. Varroa destructor was positively identified in 72.6% of the samples and was widely distributed. Although the samples were analysed for three viruses, DWV, ABPV and KBV, only DWV was detected (frequency = 12.5%). Acarapis woodi and Nosema spp. occurred in approximately 11% and 22% of the samples, respectively, while B. coeca, a wingless dipteran that was once common in Irish honeybee colonies, was very rare (3.7%). Samples where all the pathogens/parasites were jointly absent were statistically under-represented in Leinster and DWV was statistically over-represented in Munster. In Ulster, there was over-representation of the categories where all parasites/pathogens were jointly absent and for A. woodi, and underrepresentation of V. destructor.The project was funded by EU FEOGA and the National Apiculture Programme 2007–2010 of the Department of Agriculture, Food and the Marine

Antenna evaluation study for the shuttle multispectral radar, phase 1

Critical parameters of the shuttle multispectral radar antenna (SMRA) which most affect antenna performance were identified. A preliminary methematical model is presented for describing SMRA performance under the influence of various physical and environmental factors which might degrade performance. Because user groups have not agreed on optimum frequencies best suited for the broadest range of application, the study incorporates frequencies ranging from 1.2 to 14.5 GHz, as well as a consideration of incidence angles from near nadir to nearly 50 deg

Spin Dynamics of a Canted Antiferromagnet in a Magnetic Field

The spin dynamics of a canted antiferromagnet with a quadratic spin-wave dispersion near \vq =0 is shown to possess a unique signature. When the anisotropy gap is negligible, the spin-wave stiffness \dsw (\vq, B) = (\omega_{\vq}-B)/q^2 depends on whether the limit of zero field or zero wavevector is taken first. Consequently, \dsw is a strong function of magnetic field at a fixed wavevector. Even in the presence of a sizeable anisotropy gap, the field dependence of both \dsw and the gap energy distinguishes a canted antiferromagnet from a phase-separated mixture containing both ferromagnetic and antiferromagnetic regions.Comment: 10 pages, 3 figure

Extreme ultraviolet emission lines of Ni XII in laboratory and solar spectra

Wavelengths for emission lines arising from 3s23p5-3s3p6 and 3s23p5-3s23p43d transitions in Ni XII have been measured in extreme ultraviolet spectra of the Joint European Torus(JET) tokamak. The 3s23p5 2P1/2-3s23p4(3P)3d 2D3/2 line is found to lie at 152.90 ± 0.02 A, a significant improvement over the previous experimental determination of 152.95 ± 0.5 A. This new wavelength is in good agreement with a solar identification at 152.84 ± 0.06 A, confirming the presence of this line in the solar spectrum. The Ni XII feature at 152.15 A may be a result only of the 3s23p5 2P3/2-3s23p4(3P)3d 2D5/2 transition, rather than a blend of this line with 3s23p5 2P3/2-3s23p (3P)3d 2P1/2, as previously suggested. Unidentified emission lines at 295.32 and 317.61 A in solar flare spectra from the Skylab mission are tentatively identified as the 3s23p5 2P3/2-3s3p6 2S1/2 and 3s23p5 2P1/2-3s3p6 2S1/2 transitions in Ni XII, which have laboratory wavelengths of 295.33 and 317.50 A, respectively. Additional support for these identifications is provided by the line intensity ratio for the solar features, which shows good agreement between theory and observation

NEW INPUT AND OUTPUT RISK MANAGEMENT STRATEGIES FOR LIVESTOCK PRODUCERS

Backgounding beef cattle is an inherently risky venture. Producers faceproduction risks as well as marketing risks. If a backgrounding operation is to be viable,these risks should be addressed and effectively managed. While some effective riskmanagement tools are currently available to livestock producers, some other potentiallyuseful risk management tools, for various reasons, have been previously unavailable.Two such tools which could help livestock producers achieve the overall goal ofmanaging net income risk are a program for managing feed ingredient nutrient and pricevariability in the selection of minimum cost feed rations and government subsidizedlivestock price insurance.Due to lack of data and limited computational power of solvers, risk has seldombeen introduced into the feed ration selection process. Presently, both feed ingredientnutritional data and appropriate solvers are available, allowing for risk to be fullyconsidered in this decision-making process. Only recently has there been policy effortsto establish subsidized price or revenue insurance for livestock producers. Theintroduction of such insurance to livestock producers offers potential risk managementbenefit but also has the potential to introduce improper incentives to livestock producers.This study will evaluate both of the aforementioned livestock risk managementtools. In addition to evaluating their effectiveness, the policy concerns of subsidizedlivestock insurance will also be addressed. Results will be relevant to a broad range ofentities. In addition to livestock producers wishing to manage the risks associated withtheir operations, agribusinesses that provide service to these producers such as feed salesor financial lending will benefit from knowing how these risk management strategiesperform. Furthermore, policy makers who will structure livestock insurance products canhopefully do so more efficiently based on the results of the livestock insurance analysis

SPATIAL ANALYSIS OF FEEDER CATTLE HEDGING RISK

Optimal hedge ratios are estimated for various weights of feeder cattle in four cash markets based on CME data from 1992 to 1999. Three-month uniform hedges are simulated for every weight, contract, and cash market combination. Hedging effectiveness is compared empirically across locations to identify spatial differences in hedging risk.feeder cattle, hedging risk, hedge ratios, Livestock Production/Industries, Risk and Uncertainty,

ESTIMATING THE EFFECTS OF FACTORS INFLUENCING GRID PRICING REVENUE

Beef carcasses, carcass premiums, carcass discounts, and grain prices are simulated. Random carcasses are priced according to random sets of market conditions defining a distribution of total and net revenues. Sensitivity analysis is performed to determine the total effect on revenue and net revenue of managing any of the interrelated carcass traits. Keywords: grid pricing, risk, simulationgrid pricing, risk, simulation, Livestock Production/Industries,