U.S. Peanut Markets Adjust to Policy Reform

With the recent (2002) elimination of the longstanding "marketing quota" system that supported domestic peanut prices at well above world levels, the U.S. peanut sector is in the initial stages of adjusting to a more uncertain, market-oriented environment. At the aggregate level, some early indications are that the adjustment process for U.S. peanut farmers has been difficult, resulting in deep losses of revenue and a rapid exit from peanut production by some producers. In 2003, the value of U.S. peanut production was down 30 percent and prices fell by nearly 25 percent compared with 2001. U.S. peanut planted acreage is at its lowest since 1915, and planted acreage has declined sharply in several important peanut producing States-55 percent in Virginia and nearly 40 percent in Texas since 2001. Peanut production is concentrated geographically, with a relatively small subset of counties in just 7 States accounting for the bulk of output. As a result, changes to the peanut program have potentially important economic implications not just for the individual farm households that produce peanuts, but perhaps for some rural communities as well. At the same time, it appears that adjustment difficulties for many current (and historical) producers may be mitigated by a number of factors, including: (1) an already diversified farm enterprise structure, with peanut (harvested) acreage accounting for an average of only 20 percent of peanut farmers' overall cropland, and a substantial share-72 percent of total household income already coming from off farm sources; (2) lower production costs for some producers stemming from policy-induced reductions in factor or input costs (e.g. land rental rates, seed prices); and (3) government revenue support and asset-loss compensation for current and historical peanut producers. It appears that one of the main difficulties faced by U.S. peanut producers following the elimination of the marketing quota system has been the loss of price stability, and a lack of price transparency and price discovery mechanisms under the new peanut program. Sources of price information and risk management tools -such as futures markets - are not available to peanut producers. Marketing alternatives may also be limited by a concentrated market structure at the buyer/processor level. Beyond detailing the more aggregate-level indicators of market adjustment, examining the adjustment experience and strategies of peanut producers at the household/farm enterprise level represents an opportunity to identify policy and market factors that facilitated or hindered adjustment, and to inform producers and policy-makers contemplating reform in other commodity programs. In particular, other U.S. commodities that are geographically concentrated or have a similar program history of production/import controls (tobacco, sugar, dairy) could draw lessons from the experience of peanut producers. Variations by region, demographic and household financial characteristics, and other factors such as institutional setting "market structure, trading/price discovery institutions, macroeconomic context or market orientation of the economy" are relevant to the analysis of policy reform both in the United States and other countries.peanuts, policy, adjustment, marketing quotas, Agricultural and Food Policy, Crop Production/Industries,

The Post-Buyout Experience: Peanut and Tobacco Sectors Adapt to Policy Reform

Marketing quota and price support programs for peanuts and tobacco were a longstanding feature of U.S. farm policy, from the 1930s until the Government enacted quota buyouts, in 2002 for peanuts and 2004 for tobacco. Quota owners were compensated with temporary payments, but elimination of the quota programs exposed producers more to market risks and brought about structural changes at farm, regional, and marketwide levels. Since the buyouts, many peanut and tobacco farms have exited production. The farms that remain are mostly larger and have adopted new risk management strategies, such as contracting. Freed of the planting restrictions in the quota programs, production of peanuts, and to a lesser extent of tobacco, has been relocated to regions better suited to their growth. While total acreage and prices for peanuts and tobacco have remained below pre-buyout levels, the lower prices—along with increased production efficiency— have supported renewed growth in demand, particularly in export markets.Policy reform, farm policy, buyouts, marketing quotas, peanuts, tobacco, adjustment, structural change, Agricultural and Food Policy, Industrial Organization, Institutional and Behavioral Economics, Marketing,

Oral Acetazolamide after Boston Keratoprosthesis in Stevens Johnson Syndrome

Background: Stevens-Johnson syndrome/toxic epidermal necrolysis (SJS/TEN) is a rare but severe and sometimes fatal condition associated with exposure to medications; sulfamethoxazole is among the most common causes. We sought to address the safety of acetazolamide, a chemically related compound, in patients with prior SJS/TEN and glaucoma. A retrospective case series is described of patients at the Massachusetts Eye and Ear Infirmary who underwent keratoprosthesis surgery for corneal blindness from SJS/TEN, and later required oral acetazolamide for elevated intraocular pressure. Findings: Over the last 10 years, 17 patients with SJS/TEN received a Boston keratoprosthesis. Of these, 11 developed elevated intraocular pressure that required administration of oral acetazolamide. One of 11 developed a mild allergic reaction, but no patient experienced a recurrence of SJS/TEN or any severe adverse reaction. Conclusion: Although an increase in the rate of recurrent SJS/TEN due to oral acetazolamide would not necessarily be apparent after treating only 11 patients, in our series, acetazolamide administration was well tolerated without serious sequela

Differential effects of RGS proteins on Gαq and Gα11 activity

Heterotrimeric G proteins play a pivotal role in GPCR signalling; they link receptors to intracellular effectors and their inactivation by RGS proteins is a key factor in resetting the pathway following stimulation. The precise GPCR:G protein:RGS combination determines the nature and duration of the response. Investigating the activity of particular combinations is difficult in cells which contain multiples of each component. We have therefore utilised a previously characterised yeast system to express mammalian proteins in isolation. Human Gαq and Gα11 spontaneously activated the yeast pheromone-response pathway by a mechanism which required the formation of Gα-GTP. This provided an assay for the specific activity of human RGS proteins. RGS1, RGS2, RGS3 and RGS4 inhibited the spontaneous activity of both Gαq and Gα11 but, in contrast, RGS5 and RGS16 were much less effective against Gα11 than Gαq. Interestingly, RGS2 and RGS3 were able to inhibit signalling from the constitutively active Gαq QL/Gα11 QL mutants, confirming the GAP-independent activity of these RGS proteins. To determine if the RGS-Gα specificity was maintained under conditions of GPCR stimulation, minor modifications to the C-terminus of Gαq/Gα11 enabled coupling to an endogenous receptor. RGS2 and RGS3 were effective inhibitors of both Gα subunits even at high levels of receptor stimulation, emphasising their GAP-independent activity. At low levels of stimulation RGS5 and RGS16 retained their differential Gα activity, further highlighting that RGS proteins can discriminate between two very closely related Gα subunits

A Novel Implantable Glaucoma Valve Using Ferrofluid

Purpose To present a novel design of an implantable glaucoma valve based on ferrofluidic nanoparticles and to compare it with a well-established FDA approved valve. Setting: Massachusetts Eye & Ear Infirmary, Boston, USA. Methods: A glaucoma valve was designed using soft lithography techniques utilizing a water-immiscible magnetic fluid (ferrofluid) as a pressure-sensitive barrier to aqueous flow. Two rare earth micro magnets were used to calibrate the opening and closing pressure. In-vitro flow measurements were performed to characterize the valve and to compare it to Ahmed™ glaucoma valve. The reliability and predictability of the new valve was verified by pressure/flow measurements over a period of three months and X-ray diffraction (XRD) analysis over a period of eight weeks. In vivo assessment was performed in three rabbits. Results: In the in vitro experiments, the opening and closing pressures of the valve were 10 and 7 mmHg, respectively. The measured flow/pressure response was linearly proportional and reproducible over a period of three months (1.8 µl/min at 12 mmHg; 4.3 µl/min at 16 mmHg; 7.6 µl/min at 21 mmHg). X-ray diffraction analysis did not show oxidization of the ferrofluid when exposed to water or air. Preliminary in vivo results suggest that the valve is biocompatible and can control the intraocular pressure in rabbits. Conclusions: The proposed valve utilizes ferrofluid as passive, tunable constriction element to provide highly predictable opening and closing pressures while maintaining ocular tone. The ferrofluid maintained its magnetic properties in the aqueous environment and provided linear flow to pressure response. Our in-vitro tests showed reliable and reproducible results over a study period of three months. Preliminary in-vivo results were very promising and currently more thorough investigation of this device is underway