DISCUSSION: THE NEW FOOD AND AGRICULTURE BILL - WHERE IS IT HEADED? POTENTIAL IMPACTS ON SOUTHERN AGRICULTURE

Political Economy,

OBSERVATIONS ON CHANGES IN FACTORS INFLUENCING AGRICULTURAL ECONOMICS AND SOME IMPLICATIONS FOR THE PROFESSION

Teaching/Communication/Extension/Profession,

SPATIAL AND TEMPORAL WATER ALLOCATION IN THE KISSIMMEE RIVER BASIN

Resource /Energy Economics and Policy,

GROUND BEEF: IMPLICATIONS FOR THE SOUTHEASTERN U.S. BEEF INDUSTRY

Livestock Production/Industries,

COMPONENTS OF OUTDOOR RECREATIONAL VALUES: KISSIMMEE RIVER BASIN, FLORIDA

Resource /Energy Economics and Policy,

ECONOMIC FEASIBILITY OF USING BRUSH CONTROL TO ENHANCE OFF-SITE WATER YIELD

A feasibility study of brush for off-site water yield was undertaken in 1998 on the North Concho River near San Angelo, Texas. Subsequently, studies were conducted on eight additional Texas watersheds. Economic analysis was based on estimated control costs of the different options compared to the estimated rancher benefits of brush control. Control costs included initial and follow-up treatments required to reduce brush canopy to between 3 and 8%, and maintain it at the reduced level for 10 years. The state cost-share was estimated by subtracting the present value of rancher benefits from the present value of the total cost of the control program. The total cost of additional water was determined by dividing the total state cost-share if all eligible acreage were enrolled by the total added water estimated to result from the brush control program. This procedure resulted in present values of total control costs per acre ranging from $33.75 to$159.45. Rancher benefits, based on the present value of the improved net returns to typical cattle, sheep, goat, and wildlife enterprises, ranged from $8.95 to$52.12 per acre. Present values of the state cost-share per acre ranged from $21.70 to$138.85. The cost of added water estimated for the eight watersheds ranged from $16.41 to$204.05 per acre-foot averaged over each watershed.Resource /Energy Economics and Policy,

Do Red-Cockaded Woodpeckers Select Cavity Trees Based on Chemical Composition of Pine Resin?

We examined resin chemistry of loblolly (Pinus taeda) and shortleaf (P. echinata) pines selected as cavity trees by Red-cockaded Woodpeckers (Picoides borealis) in eastern Texas. We sampled resin from (1) pines selected by Red-cockaded Woodpeckers that contained naturally excavated active cavities, (2) pines selected by forest biologists that contained artificially installed cavity inserts and were actively being used by Red-cockaded Woodpeckers, and (3) control pines of similar age and appearance to the active cavity trees. We hypothesized that if woodpeckers are inducing a change in resin chemistry by excavating resin wells, this change should appear in active cavity trees selected by woodpeckers and trees selected by biologists, but not in control pines. If woodpeckers are selecting pines that have specific resin chemistry, concentrations of some resin components in active cavity trees selected by the woodpeckers for natural cavity excavation should be different from both control pines and pines selected by biologists. A large diterpene acid peak containing an isopimariclevopimaric- palustric methyl-ester mix in active natural cavity trees was approximately 20% greater than controls and 22% greater than trees with artificial cavities. None of the other eight resin chemicals differed among treatments. The activity of Red-cockaded Woodpeckers at resin wells did not appear to affect the composition of cavity tree resin. Woodpeckers, however, may select pines with specific resin chemistries for cavity trees

EVALUATING INCENTIVE PAYMENT PROGRAMS THROUGH AGGREGATE PRODUCTION RESPONSE: THE CASE OF MOHAIR

Production Economics,

Portfolio Implications of Apartment Investing

In this article, we examine the portfolio implications of apartment investing. In particular, we explore the sector’s relative stability, liquidity, and current market outlook. In general, we find support for many of the advantages attributed to apartments relative to other property types. The apartment sector has historically offered high risk-adjusted returns and a relatively low correlation with other property sectors. These features, combined with the attractive demographics and stable space market fundamentals, suggest that the current environment should be favorable for apartment investing. However, the popularity of the sector, aggressive rent growth assumptions, and potential limitations on future immigration provide sources of performance risk.

Relationships Between Habitat and Snag Characteristics and the Reproductive Success of the Brown-headed Nuthatch (Sitta pusilla) in Eastern Texas.

Habitat use and reproductive success of the Brown-headed Nuthatch (Sitta pusilla Latham) were studied in East Texas during the 2001-2002 breeding seasons. We compared nest cavity selection at used and randomly selected non-used areas. Height of nest trees, midstory density, and percent leaf litter were negatively correlated with nest site selection. Brown-headed Nuthatches showed a strong preference for short snags; yet placed their nest cavity entrances near the top ofthe snags. While nuthatches may be selecting for habitats with little or no midstory density, percent of leaf litter in the nest sites is most likely the consequence of frequent burning. No significant differences among habitat variables and snag characteristics were found between successful and failed nest cavities. Additionally, no habitat variables were correlated with the number of chicks fledged per nest. Predation was the major cause of nest failure in this study