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The Effects of Weather and Output Price Risk on the Economic Returns of Backgrounding Feeding Cattle

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  • Harrison, R. Wes
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    Abstract

    Stochastic simulation is used to analyze the effects of weather and output price risks on feeder cattle backgrounding systems common to the mid-south region of the United States. The results show that backgrounding systems beginning in the fall and ending from April to late August are associated with higher expected returns relative to summer backgrounding. However, winter backgrounding is associated with greater overall risk relative to summer backgrounding. Stochastic dominance analysis indicated that slightly risk averse backgrounders prefer both winter and summer baskgrounding but summer backgrounding is preferred by strongly risk averse decision makers.

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    Bibliographic Info

    Article provided by Agricultural Economics Association of Georgia in its journal Journal of Agribusiness.

    Volume (Year): 15 (1997)
    Issue (Month): 2 ()
    Pages:

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    Handle: RePEc:ags:jloagb:90425

    Contact details of provider:
    Postal: 301 Conner Hall, University of Georgia, Athens, GA 30602-7509
    Web page: http://www.agecon.uga.edu/~jab/
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    Related research

    Keywords: Feeder cattle; Weather risk; Price risk; Stochastic dominance; Agribusiness; Livestock Production/Industries; Productivity Analysis;

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