INCOME TAX EFFECTS ON BEEF COW REPLACEMENT STRATEGY

Livestock Production/Industries,

SELECTING FUNCTIONAL FORM IN PRODUCTION FUNCTION ANALYSIS

Functional form selection is a sometimes neglected aspect of applied research in production analysis. To provide an improved and uniform basis for form selection, a number of traditional and popular functional forms are catalogued with respect to intrinsic properties. Guidelines for the conduct of form selection are also discussed.Production Economics, Research Methods/ Statistical Methods,

EVALUATING USE OF OUTLOOK INFORMATION IN GRAIN SORGHUM STORAGE DECISIONS

This study examines grain sorghum storage decisions in the Texas Coastal Bend region. Decisions involving use and non-use of outlook information are compared using stochastic dominance criteria. Results indicate outlook information is of value to most classes of decision-makers. The value of outlook information, however, is contingent upon producers' risk preferences. The methodology presented could be used to evaluate a more extensive set of marketing strategies for grain sorghum as well as for other crops.Crop Production/Industries,

Estimation of Irrigation Water Demand: A Case Study for the Texas High Plains

On the Texas High Plains, water from the Ogallala aquifer is used to supplement irrigation requirements, since annual rainfall is below 20.5 in/ year. This study addresses land and water demand by testing the effects of water costs, crop prices, and technology on water use and crop production acreages.Ogallala, Irrigation, Water Demand, Technology, Agricultural and Food Policy, Production Economics,

SOME EFFECTS OF RICE QUALITY ON ROUGH RICE PRICES

Quality discounts and premiums for rough rice in Texas rice bid/acceptance markets are analyzed. The most important quality factors determining the value of rough rice are head yield and peck. A one percentage point reduction in peck damage raises the price received per hundredweight of rough rice by $.13 to$.68 across markets and years. Since peck damage can be reduced by controlling the rice stinkbug, evaluation of alternative methods for better control of this pest in Texas rice fields is needed.Demand and Price Analysis,

SCHEDULING INPUTS WITH PRODUCTION FUNCTIONS: OPTIMAL NITROGEN PROGRAMS FOR RICE

The problem of scheduling input applications can be examined by extending conventional production function analysis. Using appropriately designed agricultural experiments, it is possible to estimate production function parameters with alternative specifications for input timing (and amount). A study of nitrogen applications to rice is employed to illustrate scheduling via production functions. Alternative specifications and functional forms are simultaneously examined to determine the sensitivity of economic results to these factors. Sensitivity is found to be high, and this finding is hypothesized to be critical for other approaches to input scheduling as well.Crop Production/Industries,

COTTON LAND TENURE EVALUATION SOFTWARE USERS' GUIDE

The Federal Agriculture Improvement and Reform Act of 1996 (FAIR Act) introduces several significant changes to farm commodity legislation. While these changes impact all program commodities, they have prompted considerable concern for the future of the Texas cotton industry. Changes in the farm program have prompted many landowners and tenants to evaluate their current rental arrangements and determine if changes are required. In response to considerable ensuing questions regarding the land rental market, a Lotus 1-2-3 template was developed to aid parties in determining an equitable lease. This Lotus template allows users to specify enterprise budget information for rice farm operations and then evaluates the expected returns to producers and landowners under various lease scenarios. The landowners' results are compared with the returns from 100% of the market transition payments and user-specified net returns for an alternative enterprise to calculate the net advantage to landowners for producing rice under the budgeted scenario over the life of the FAIR Act. The Cotton Land Tenure Evaluation Users' Guide is a detailed explanation of how to use the Lotus Cotton Land Tenure Evaluation program. This guide instructs users on how to use the various components of the program. Sections of the Users' Guide include a preface, installation instructions, an overview of the changes in the farm program, a section describing how to input data, a description of the custom menu system, and a report section that illustrates examples of the reports that are available for printing.Agricultural and Food Policy,

GRAIN LAND TENURE EVALUATION SOFTWARE USERS' GUIDE

The Federal Agriculture Improvement and Reform Act of 1996 (FAIR Act) introduces several significant changes to farm commodity legislation. While these changes impact all program commodities, they have prompted considerable concern for the future of the Texas grain industry. Changes in the farm program have prompted many landowners and tenants to evaluate their current rental arrangements and determine if changes are required. In response to considerable ensuing questions regarding the land rental market, a Lotus 1-2-3 template was developed to aid parties in determining an equitable lease. This Lotus template allows users to specify enterprise budget information for grain farm operations and then evaluates the expected returns to producers and landowners under various lease scenarios. The landowners' results are compared with the returns from 100% of the market transition payments and user-specified net returns for an alternative enterprise to calculate the net advantage to landowners for producing grain under the budgeted scenario over the life of the FAIR Act. The Grain Land Tenure Evaluation Users' Guide is a detailed explanation of how to use the Lotus Grain Land Tenure Evaluation program. This guide instructs users on how to use the various components of the program. Sections of the Users' Guide include a preface, installation instructions, an overview of the changes in the farm program, a section describing how to input data, a description of the custom menu system, and a report section that illustrates examples of the reports that are available for printing. The Grain Land Tenure Evaluation also has the capability of evaluating all seven program crops. A section in the Users' Guide explains how to switch from one crop to another.Agricultural and Food Policy,

INCORPORATING GOVERNMENT PROGRAM PROVISIONS INTO A MEAN-VARIANCE FRAMEWORK

E-V studies traditionally have relied on historical data to calculate returns and variance. Historical data may not fully reflect current conditions, particularly when decisions involve government-supported crops. This paper presents a method for calculating mean and variance using subjectively-estimated data. The method is developed for both government-supported and non-program crops. Comparisons to alternative methods suggest the approach provides reasonable accuracy.Agricultural and Food Policy,

EVALUATING APPROPRIATE RENTAL RATES FOR RICE ACREAGE

The levels and risk-free nature of rice market transition payments associated with the FAIR Act of 1996 have encouraged many rice landowners to reconsider their tenure contracts. A methodology for comparing landowners' decision to "self-operate" versus "rent to a tenant" is presented.Crop Production/Industries, Land Economics/Use,