OPPORTUNITIES IN FARM MANAGEMENT: DISCUSSION/CHALLENGE

Farm Management,

FINANCIAL ANALYSIS OF A PROPOSED LARGE-SCALE ETHANOL COGENERATION PROJECT

Financial analysis of an ethanol/electricity cogeneration plant indicates a rapid payback of investment and a high internal rate of return. This is primarily because cogeneration of steam for generation of electricity and biomass conversion to ethanol results in increased engineering efficiency compared to alternative ethanol alone production processes. Economic sensitivity testing included alternative price levels, interest rates, capacities, costs, and a "stand alone" case with no federal government excise tax subsidies. Supply and price analyses suggest the procurement of locally produced feedstock in Alabama and surrounding states is feasible. The robustness of the economic analysis provides support for consideration of ethanol cogeneration as a currently feasible strategy to utilize excess agricultural production capacity.Resource /Energy Economics and Policy,

A NORTHEAST BORROWER TRAINING PROGRAM: EVOLUTION AND IMPACTS

A financial training program designed by Cooperative Extension specialists was provided to over 2,000 USDA/FSA borrowers from the Northeast during the period 1994-1999. Key to the success of the workshops was an in-depth, user-friendly curriculum that evolved over time, eventually replacing satellite-feed instruction with pre-taped videos. Cluster analysis classified nearly 70 percent of workshop participants as "Low Finance Priority" or "Low Finance Knowledge." Farmers in these clusters received a relatively greater educational benefit from the program than those not in these clusters.. Impact analysis indicated that perceived annual gain in farm net worth from application of workshop tools ranged from approximately $5,000 to$10,000. The training addressed the needs of producers typically isolated from Cooperative Extension because the workshop was the only extension program attended that year by nearly two-thirds of them.agricultural finance, workshop methods, borrower training, cluster analysis, impact analysis, Agricultural Finance, Teaching/Communication/Extension/Profession,

IMPORTANCE, CAUSES, AND MANAGEMENT RESPONSES TO FARM RISKS: EVIDENCE FROM FLORIDA AND ALABAMA

Despite the contention that risk and uncertainty play an important role in agriculture in North Florida and South Alabama, very little is known about producers' perceptions of risk. This paper describes the procedures used and the results obtained from a statistically random survey of farmers' perceptions of the importance of various sources of risk and alternative risk management practices. Initially, farmers were asked to define risk and then to rank various sources of risk and management responses to risk based on the relative importance of each to their operation. Summary statistics, Chi-squares analyses, and logistic regression techniques were used to analyze the data.Farm Management, Risk and Uncertainty,

A PROFITABILITY ANALYSIS OF DAIRY FEEDING SYSTEMS IN THE NORTHEAST

This study analyzes the use and profitability of three distinct feeding systems; confinement feeding, traditional grazing, and management-intensive grazing from a randomly selected sample of northeastern dairy farms. The confinement feeding farms were significantly larger and produced more milk per cow, while the farms using management-intensive grazing incurred the lowest production costs. Both confinement feeding and management-intensive grazing generated significantly higher rates of return to farm assets relative to farms using a mixed system. Multiple regression analysis confirms the critical importance of herd size, milk production per cow, debt level and veterinary expenses to farm profitability in all production systems.Livestock Production/Industries,

MARKETING CHARACTERISTICS ASSOCIATED WITH SEAFOOD COUNTERS IN GROCERY STORES

This study provides a benchmark analysis of seafood counter characteristics corresponding to the peaking of per capita seafood demand in the U.S. Logistic regression results show separate seafood counters are less likely in small stores, in rural stores, and in stores in low or medium income areas. Chain stores and stores with a significant number of non-white customers were more likely to have a seafood counter. Stores in the East South Central region were less likely, and stores in New England more likely, to have a seafood counter. The likelihood that stores will develop seafood counters was related to differences in sales volume, floor space, urban/rural location, income level of clients and regional location. Continuing innovations in marketing technology of seafood counters are likely to provide expanded marketing opportunities in the future.Marketing,

PRODUCTION, PRICE AND RISK FACTORS IN CHANNEL CATFISH FARMING

The effects of several production/management, price and risk factors upon channel catfish profitability are analyzed with a multiperiod mixed-integer linear programming model. Factors analyzed include pond size and optimal stocking rates, alternate levels and trends in catfish prices, pond production losses and level of family consumption withdrawals. Model results indicate that channel catfish offer the potential to significantly increase farm rates of return while providing an avenue of intensive farm growth, without expanding the land base of the farm. However, the long range financial success of the firm was very sensitive to several of the management and risk factors examined.Production Economics, Risk and Uncertainty,

Expanding Extension\u27s Reach: Partnering With FSA to Meet Educational Goals

Extension specialists at Penn State and University of Vermont continued their successful expansion of extension clientele to partner with FSA to train new loan officers from 12 states on agricultural production practices, related equipment and marketing challenges. The 3-4 day workshops were designed around a series of visits to farms and ag businesses. A follow-up workshop focused specifically on entrepreneurial innovators. Participant evaluations indicated that visits to ag businesses were the most highly rated activity, followed closely by farm visits. Overall satisfaction was very high, and nearly all participants indicated the training would make them better loan officers

IDENTIFYING FREQUENT SEAFOOD PURCHASERS IN THE NORTHEASTERN U.S.

Factors affecting the frequency of purchase of fish and other seafood for at-home and restaurant consumption by Northeastern consumers were investigated. Cluster analysis identified six groups of consumers with similar perceptions of the attributes of fish. Demographic and cluster membership variables were employed in logistic regressions to identify the characteristics of frequent at-home use and restaurant purchasers. At-home purchase was more likely to be frequent among respondents with white collar occupations, older ages, urban/suburban and New England residence, recreational fishing participation, and membership in one of five attitudinal clusters. Restaurant purchase was more likely to be frequent among whites and among those with higher incomes, white collar occupations, recreational fishing involvement and among members of two clusters with favorable attitudes toward fish; it was less likely to be frequent in households with children age 10 and under present.Consumer/Household Economics,

Layered Community Support for Sustainable Dairy Farming

Environmental, community, and economic sustainability of dairy production has important support layers based on production system characteristics, farm size, locational variables, age, and grazing system amenities. Advanced pollution control technology is key to the sustainability of especially large confinement dairies. Grazing dairies are positively viewed, and nearly 70% of respondents are willing to pay a $0.50 premium for milk from grazed cows. Study findings, based on analysis of 600 telephone survey responses from 28 Pennsylvania counties, indicate strong support for dairy farm sustainability, especially when compared with industrial development, which points to critical opportunities for future Extension education programming