Pricing-to-market in NSW rice export markets

The Ricegrowers’ Cooperative Limited is a single‐desk seller of NSW Japonica rice on the export market. Confidential monthly price data supplied by the Cooperative were used to examine ‘pricing‐to‐market’ in four of its major export markets. The hypothesis of a competitive market was rejected. The Cooperative has been able to vary mark‐ups over different markets and with respect to the importer’s currency in each market. The exchange rate results in particular suggest that the Cooperative has been able to exercise market power to obtain price premiums.Crop Production/Industries, International Relations/Trade,

Improved Coefficient and Variance Estimation in Stable First-Order Dynamic Regression Models

In dynamic regression models the least-squares coefficient estimators are biased in finite samples, and so are the usual estimators for the disturbance variance and for the variance of the coefficient estimators. By deriving the expectation of the initial terms in an expansion of the usual expression for the asymptotic coefficient variance estimator and by comparing these with an approximation to the true variance we find an approximation to the bias in variance estimation from which a bias corrected estimator for the variance readily follows. This is also achieved for a bias corrected coefficient estimator and allows to compare analytically the second-order approximation to the mean squared error of the least-squares estimator and its counterpart for the first-order bias corrected coefficient estimator. Two rather strong results on efficiency gains through bias correction for AR(1) models follow. Illustrative simulation results on the magnitude of bias in coefficient and variance estimation and on the scope for effective bias correction and efficiency improvement are presented for some relevant particular cases of the ARX(1) class of models.

Rate of Collapse of Snow-Bank Kames in Adams Inlet, Southeastern Alaska

Author Institution: Institute of Polar Studies and Department of Geology, The Ohio State University, Columbus, OhioMounds formed by the differential ablation of snow covered by varied thicknesses of sand that has slumped onto a snow bank from an adjacent bluff are here named snow-bank kames. The rate of collapse of these mounds, calculated from temperature observations in the sand and using the temperature-gradient method, was 2.2 cm day-1. The observed rate of lowering for these mounds was between 2.6 and 3.2 cm day-1. The difference in rates may be due to mechanisms of heat transfer other than conduction

Forage Legumes vs. Fertilizer Nitrogen

A few weeks after I started to work as a Forage Extension Specialist at the University of Kentucky, I heard my mentor and forage idol, Mr. Warren Thompson, speak on forage legumes. Warren, along with Dr’s. Tim Taylor and W.C. Templeton had pioneered the “Pasture Renovation Program” in Kentucky. In addition, Mr. Ed Smith had joined the team and collectively they developed the “Power-til Pasture Renovator.” Warren began his presentation by talking about Kentucky Forages pointing out we were so fortunate to have a good grass base and the opportunity to grow lots of legumes. He also talked about all the good things legumes could do once established into grass dominant pasture and hay fields. He stated “Pasture renovation is the most important pasture improvement practice in Kentucky”. At that time, corn was under $2.00 per bushel, gas was 69 cents/gal, and nitrogen was readily available as ammonia nitrate and less than twenty cents per pound. Since that time, a lot of things have changed, especially corn, nitrogen and fuel prices; however, Warren’s statement about the important of legumes is still valid. In fact, considering the merits of forage legumes and change in nitrogen and other input costs, forage legumes are more important today than ever

Kentucky\u27s Forage Resources

Kentucky is a FORAGE state with approximately one-half of the total farmland occupied by forage grasses and legumes. We are very fortunate that we can grow many different species successfully. We have the natural resources and climate to grow most cool-season and warm-season species. We are fortunate that we usually have a relatively long growing season. We are usually blessed with rain, especially in spring (2007 was a major exception) with our annual rainfall approximately fifty inches. We are also fortunate that we have some of the absolute best forage-livestock producers in the World

Requirements for Successful Alfalfa Establishment

Establishing a good stand of alfalfa is expensive and time consuming, but the success rate is high if you give attention to the important factors. The following steps won’t insure success, but will increase greater likelihood

Novel Endophyte Tall Fescue

“Novel” endophyte is a term used to describe a “good” or “friendly” fungus (endophyte) in tall fescue as opposed to the endophyte that’s present if over eighty-five percent of the tall fescue in the Fescue Belt of the USA. This endophyte is costing beef producers an estimated $1 Billion dollars in losses from animal gains, reproduction and overall performance