Price Determinants of Stock-Type Horses Sold at Public Online Auctions

There is a shift in livestock auction sales in consolidation of live markets and movement toward virtual marketplaces. We examine buyer preferences for nonracing stock-type horses sold through virtual auctions to better understand how animals are sold and their valuation. A shift towards online sales of equine has impacted the number of potential buyers through increased exposure to sale horses. Using data collected from online auctions, we estimate factors influencing propensity to sell as well as price determinants in this market platform. We find many factors contribute to the likelihood of a horse selling and to the final sale price

Bred Heifer Price Determinants in the Southeast

Price determinants for bulls, cows, and feeder cattle are well established in the literature but there has been little research on bred heifer price determinants and specifically the impact of feeder cattle prices on the purchase price of bred heifers. We estimated the impact of reproductive characteristics and feeder cattle prices on bred heifer prices for beef production. Data were obtained from a May and November bred heifer sale located in Kentucky and hedonic pricing models were estimated for bred heifers for each sale month. Prices for fall- calving heifers were influenced by number of months bred or expected calving date with longer bred heifers priced the highest. Purchase price of spring- calving heifers did not vary from five to seven months bred, but heifers four months bred were priced lower. Pregnancies resulting from artificial insemination did increase the value of fall-calving heifers but did not impact spring-calving heifer prices. Heifer feeder cattle prices the day of the sale positively influenced the price of spring- and fall-calving bred heifers. This extends previous research by considering the impact of feeder cattle prices on the price of bred heifers. The results can help cow-calf producers in making a more informed purchasing decision of replacement breeding animals

Optimal N Application Rates on Switchgrass for Producers and a Biorefinery

13-C-AJFF-UTenn-005This is an open access article under the terms of the Creative Commons Attribution 4.0 International (CC BY 4.0) license https://creativecommons.org/licenses/by/4.0/. Please cite this article as: Robertson, K.A.; English, B.C.; Clark, C.D.; Thompson, J.M.; Jensen, K.L.; Menard, R.J.; Labb\ue9, N. Optimal N Application Rates on Switchgrass for Producers and a Biorefinery. Energies 2021, 14, 7912. https://doi.org/10.3390/en14237912This study analyzes the effects of N fertilizer application rates on profitability of growing switchgrass and using the feedstock in a pyrolysis biorefinery facility to create a source of sustainable aviation fuel (SAF) supply in Tennessee. Switchgrass (Panicum virgatum L.) is a perennial bunchgrass native to North America with traits suitable for biofuel and co-product production. Previous chemical analysis has shown that ash content in switchgrass is related to the amount of nitrogen applied to the field, while at the biorefinery level, the percentage ash content reduces the biorefinery fuel output. To obtain optimal nitrogen (N) application rates for the switchgrass producers and the biorefinery, a two-part analysis is employed. First, a partial budgeting profitability analysis is conducted for this cropping enterprise at the farm-gate level without considering downstream implications of biomass quality, i.e., ash content. Second, the effects of higher ash content as a percentage of the feedstock on biorefinery output are analyzed. Results show farm-gate profit is maximized when N fertilizer is applied at 111 kg/ha, while as a result of increased production levels and decreased percentage ash content, biorefinery profit is maximized when N is applied at 157 kg/ha. Lower ash could lead to premium prices paid to switchgrass producers if higher quality feedstock were to be demanded as part of an integrated biofuel industry

McImpact: Welfare Impacts of All Day Breakfast after HPAI Outbreak

Beginning October 2015, McDonalds restaurants offer a limited breakfast menu all day in hopes of catalyzing business growth in the United States. The decision to expand the menu comes at a time when key breakfast menu inputs, i.e. eggs, are in shortage due to the outbreak of highly pathogenic avian influenza (HPAI) in U.S. layer flocks. The first case of HPAI was announced December 2014 with the last reported detection occurring June 2015 affecting more than 48 million birds. The outbreak led to depopulation of millions of infected birds, limiting supply, which has led to higher retail prices to consumers both direct and indirect consumption. The increase in demand by McDonalds is expected to further exacerbate this issue. Using a partial equilibrium model of U.S. layer flocks, the welfare impacts of an increase in demand coupled with a decrease in supply can be estimated. By using HPAI outbreak supply shocks and a stochastic estimation of demand increases due to all day breakfast by McDonald’s, the total welfare are estimated to have an additional negative $220 thousand marginal impact to consumers and a positive$33 thousand impact to producers

Factors Influencing Value of Agribusiness Firms Marketing Animal Proteins

In today’s globalized world, some agribusinesses are diversifying to other agricultural and non-agricultural products to combat the inherent risks associated with marketing agricultural goods, while others have intensified in one particular area. For example, Tyson Foods, Incorporated, one of the largest publicly-traded and globally recognized agribusinesses, began making poultry products in the 1930s and has since diversified to market beef, pork, and other food products through either acquisitions or expansion of core business strategy, while Cal-Maine Foods has continued to stay true to its core business of egg production and marketing. A diversified portfolio is expected to alleviate the effects of business disrupting events such as product recalls, droughts, or animal disease events. Protein companies specifically face risks associated with feed sourcing, animal health and welfare, and food safety. The aim of this work is to analyze the value of product diversification on an agribusiness’ worth using stock prices to value each of the top 100 meat companies that are publically traded in the United States. Daily stock prices from 2007-2016 have been collected and are used to identify the factors that contribute to the value of a company, while accounting for the heterogeneity of agribusiness management and strategy

A System Approach for Three-Dimensional Panel Data to Estimate Poultry Trade Impacts due to Animal Disease Outbreaks

Disruptions in international trade can cause negative and costly impacts to both exporting and importing countries. These disruptions affect commodity groups differently based on level of processing and type of product. Disaggregating data into sub-commodity groups allows for a better understanding of the impact highly pathogenic diseases can have on trade quantities. In this analysis, a systems approach Hausman-Taylor estimations (HT-SUR) will be applied to estimate the factors affecting bilateral trade of disaggregated poultry commodities during an outbreak of a highly pathogenic avian influenza (HPAI) and exotic Newcastle disease (ND). The ending results will be a granular impact analysis of disease outbreaks on exporting countries by commodity