Impact of Selected Factors on Farm Income for the Alabama Black Belt Counties and Non-Alabama Black Belt Counties

The study examined the impact of selected factors on farm income in the Alabama Black Belt Counties (ABBCs) and Non-Alabama Black Belt Counties (NABBCs). Data were obtained from the 2017 Census of Agriculture and analyzed using ordinary least square regression analysis. The results revealed that for the ABBCs, average size of farms, government payments, and average farm production expenses significantly affected average cash farm income (ACFI); for the NABBCs, median size of farms, government payments, and average farm production expenses significantly affected ACFI. Furthermore, for the ABBCs, average size of farms, government payments, and total farm production expenses significantly impacted net cash farm income (NCFI); for the NABBCs, median size of farms and total farm production expenses significantly impacted NCFI. The findings suggest that the average size of farms, government payments, and expenses matter in the ABBCs; and median size of farms, government payments, and expenses matter in the NABBCs

The Impact of Socioeconomic Factors and Meat Attributes on Willingness to Pay for Locally or Regionally Produced Livestock Products in Alabama

Socioeconomic factors and meat attributes are believed to influence willingness to pay for specially produced livestock products. However, limited research has been done on this subject particularly in Alabama. The study, therefore, assessed the impact of socioeconomic factors and meat attributes on willingness to pay for locally or regionally produced livestock products in Alabama. Data were obtained from a convenience sample of participants from South Central Alabama, and were analyzed using descriptive statistics and ordinal logistic analysis. The socioeconomic characteristics reflected more middle-aged or younger persons, with a fairly good education, and with low to moderate household incomes. A majority thought using chemicals in locally or regionally produced beef or goat meat was a serious hazard. Therefore, many were willing to pay more for meat certified as locally or regionally produced. Also, most agreed or strongly agreed with statements on meat attributes. The ordinal logistic results revealed that household size, safety (safe to consume), no difference (in safety), and hygiene had significant relationships with willingness to pay more for meat certified as locally or regionally produced. Keywords: socioeconomic factors, meat attributes, local or regional, willingness to pay, livestock product

Assessing Alabama Consumer Attitudes and Beliefs About Locally or Regionally Produced Livestock and Products

Abstract Local and regional food production has gained increased interest of consumers in recent years. The study, therefore, focused on assessing consumer attitudes and beliefs on local or regional livestock products. Data were obtained from a convenience sample of 432 participants from South Central Alabama, and were analyzed using descriptive statistics, including chi-square tests. A majority of respondents thought using chemicals and additives in locally or regionally produced beef or goat meat was a serious hazard. Therefore, many were willing to pay more for meat certified as locally or regionally produced. Also, most agreed or strongly agreed with statements on meat attributes. Chi-square tests showed that gender, education, and household income had significant relationships with willingness to pay more for meat certified as locally or regionally produced. Furthermore, safety, no difference, affordability, desirability, and hygiene had significant relationships with willingness to pay more for meat certified as locally or regionally produced. Keywords: Consumers, Attitudes and Beliefs, Local and Regional, Willingness to Pay, Livestock Product

Analysis of Consumer Perceptions on Payday Loan Services, Asset Ownership, and Financial Management Education

Payday loan services, asset ownership, and financial management have been issues of interest to many consumers and scholars. Using a cross-sectional survey, we analyzed perceptions on payday loan services, asset ownership, and financial management education. The results showed that, only a small number of respondents used payday loan services. A majority had savings and checking accounts, and owned a vehicle; however, a majority did not own an IDA or a home. Furthermore, many were willing to participate in a financial management workshop. We also found that selected socioeconomic factors had statistically significant effects on selected indicators. For instance, gender had a statistically significant effect on using payday loan services. Age and household income had statistically significant effects on owning a home. The number of children under 18 years, gender, age, and household income had statistically significant effects on the willingness to participate in a financial management workshop. The findings show that socioeconomic factors may be important, and should be considered in policies regarding payday loan services, asset ownership, and financial management. Keywords: Payday Loan Services, Asset Ownership, Financial Education, Financial Management, Socioeconomic Factor

An Assessment of Microlending Programs in the Alabama Black Belt Region

Abstract The objective of this study was to assess the impact of selected socioeconomic factors on microlending in the Alabama Black Belt. It used logistic regression to identify the link between borrower socioeconomic characteristics and loan repayment rate from existing and previous microloan programs. It was hypothesized that borrower gender, age, level of education, household income, and credit score has a major impact on loan repayment. The results of study indicated that only credit score had a statistically significant effect on loan repayment. This finding underscores the importance of credit score and credit repair management in existing microloan programs, given the socioeconomic characteristics of microloan program participants in the Alabama Black Belt. It was recommended that microloan programs should incorporate the requisite personal finance management outreach and Extension components due to the need to rebuild credit for those interested in microloans for personal or business use. Keywords: Black Belt, Microlending, Socioeconomic Characteristic

Evaluating the Economic Feasibility of Producing Broilers on Pasture and in a Conventional Production System

The demand for pasture raised poultry is increasing because of the perception that it is healthier and tastier than conventionally raised poultry. In order to meet this demand, some producers are considering switching from the conventional to the pasture system to take advantage of this niche market. Therefore, the objective of the study was to determine the economic viability of rearing broilers in a pastured poultry system (PPS) versus a conventional poultry system (CPS). Each of these systems was replicated three times with 60 birds per treatment in a study lasting seven weeks. Data were collected on costs of inputs, and others estimated. The mean net returns for PPS and CPS were, respectively, $56.44 and -$92.02. The break-even prices were, respectively, $10.89 for PPS and$11.87 for CPS. Also, the benefit/cost ratio was 1.103 for PPS and 0.845 for CPS. The paired t-test for the benefit/cost ratios indicated a significant difference (p< 0.05) between PPS and CPS. PPS was deemed more feasible than CPS. Hence, it was recommended that the former system is more appropriate for small and limited resource producers, and that technical assistance should be provided to them regarding PPS. Keywords: Pastured poultry, Conventional poultry, Economic feasibility, Broiler

Impact of Socioeconomic Factors on Florida Consumers\u27 Perceptions on Use of Chemical in Locally or Regionally Produced Livestock Products

Abstract The use of chemicals in livestock production has been an issue for consumers for several decades. This study, therefore, assessed the impact of socioeconomic factors on Florida consumers’ perceptions on the use of chemicals in locally or regionally produced livestock products. Data were collected from a sample of 404 participants from several Florida counties and were analyzed using descriptive statistics and ordinal logistic analysis. Most of the respondents were of the opinion that using chemicals in locally or regionally produced and sold beef or goat meat was a serious or somewhat serious hazard. The ordinal logistic regression results showed that several socioeconomic factors, such as household size, gender, age, and education had significant effects on pesticide residues; antibiotics; artificial fertilizers; additives and preservatives, and artificial coloring. It was recommended that producers and processors should minimize the use of chemicals in livestock products as this has both short- and long-term benefits. Keywords: Socioeconomic Factors, Chemicals, Consumer Perceptions, Locally or Regionally Produced, Livestock Product