IDEAS home Printed from https://ideas.repec.org/a/oup/ajagec/v68y1986i1p55-66..html
   My bibliography  Save this article

Aggregate Milk Supply Response and Investment Behavior on U.S. Dairy Farms

Author

Listed:
  • Jean-Paul Chavas
  • Richard M. Klemme

Abstract

This paper presents a dynamic model of herd composition and supply response in the U.S. dairy sector. By incorporating biological information, the influences of the economic environment on culling rates and the dynamics of the dairy cow population are analyzed. Short-run and long-run supply elasticities provide considerable insights on milk supply adjustments over time.

Suggested Citation

  • Jean-Paul Chavas & Richard M. Klemme, 1986. "Aggregate Milk Supply Response and Investment Behavior on U.S. Dairy Farms," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 68(1), pages 55-66.
    • Handle: RePEc:oup:ajagec:v:68:y:1986:i:1:p:55-66.
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.2307/1241649
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Jarvis, Lovell S, 1974. "Cattle as Capital Goods and Ranchers as Portfolio Managers: An Application to the Argentine Cattle Sector," Journal of Political Economy, University of Chicago Press, vol. 82(3), pages 489-520, May/June.
    2. Hammond, Jerome W., 1974. "Regional Milk Supply Analysis," Staff Papers 13870, University of Minnesota, Department of Applied Economics.
    3. Harlow W. Halvorson, 1958. "The Response of Milk Production to Price," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 40(5), pages 1101-1113.
    4. R. K. Perrin, 1972. "Asset Replacement Principles," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 54(1), pages 60-67.
    5. Sydsaeter, Knut, 1969. "Note on a difference equation occurring in growth theory," Journal of Economic Theory, Elsevier, vol. 1(1), pages 104-106, June.
    6. Larry Langemeier & Russell G. Thompson, 1967. "Demand, Supply, and Price Relationships for the Beef Sector, Post-World War II Period," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 49(1_Part_I), pages 169-183.
    7. Dean Chen & Richard Courtney & Andrew Schmitz, 1972. "A Polynomial Lag Formulation of Milk Production Response," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 54(1), pages 77-83.
    8. Novakovic, Andrew M. & Thompson, Robert L., 1977. "The Impact Of Imports Of Manufactured Milk Products On The U.S. Dairy Industry," 1977 AAEA-WAEA Joint Meeting, July 31-August 3, San Diego, California 283628, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    9. Robert R. Wilson & Russell G. Thompson, 1967. "Demand, Supply, and Price Relationships for the Dairy Sector, Post-World War II Period," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 49(2), pages 360-371.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Eswaramoorthy, K., 1991. "U.S. livestock production and factor demand: a multiproduct dynamic dual approach," ISU General Staff Papers 1991010108000010523, Iowa State University, Department of Economics.
    2. Elterich, G. Joachim & Masud, Sharif M., 1980. "Milk Supply Response In Delaware," Journal of the Northeastern Agricultural Economics Council, Northeastern Agricultural and Resource Economics Association, vol. 9(1), pages 1-5, April.
    3. Elterich, G. Joachim & Masud, Sharif M., 1980. "Milk Supply Response In Delaware," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 0(Number 1), pages 1-5, April.
    4. Milligan, Robert A., 1978. "Milk Supply Response In California: Effects Of Profitability Variables And Regional Characteristics," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 3(2), pages 1-8, December.
    5. Muhammad Akmal, 1993. "A Dynamic Model of Milk Production Response for Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 32(4), pages 873-884.
    6. Hanjoon M. Jung & Abid A Burki & Mushtaq A Khan, 2012. "Supply of Dairy Products in Developing Countries," Economics Bulletin, AccessEcon, vol. 32(4), pages 3213-3223.
    7. Dahlgran, Roger A., 1981. "Dairy Marketing And Policy Analysis: A Critical Review Of Recent Empirical Studies," Department of Economics and Business - Archive 259651, North Carolina State University, Department of Economics.
    8. Hammond, Jerome W., 1983. "Self-Help Price Support: Assessing Producers For Costs Of Product Removals," Staff Papers 13824, University of Minnesota, Department of Applied Economics.
    9. Buxton, Boyd M. & Fallert, Richard, 1974. "Impact Of Dairy Product Imports On U.S. Milk Price," Staff Papers 13990, University of Minnesota, Department of Applied Economics.
    10. Ospina, Enrique & Shumway, C. Richard, 1979. "Disaggregated Analysis Of Short-Run Beef Supply Response," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 4(2), pages 1-18, December.
    11. Marc Nerlove, 1979. "The Dynamics of Supply: Retrospect and Prospect," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(5), pages 874-888.
    12. Jeffrey T. LaFrance & Harry de Gorter, 1985. "Regulation in a Dynamic Market: The U.S. Dairy Industry," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(4), pages 821-832.
    13. Chambers, Robert G. & Just, Richard E. & Moffitt, L. Joe & Rowe, Gordon A., 1979. "Disequilibrium Analysis for Fluid Milk," CUDARE Working Papers 242457, University of California, Berkeley, Department of Agricultural and Resource Economics.
    14. Chavas, Jean-Paul & Kliebenstein, James B. & Crenshaw, Thomas D., 1984. "A Dynamic Production Response Model For Growing-Finishing Swine," 1984 Annual Meeting, August 5-8, Ithaca, New York 278718, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    15. J.‐P. Chavas & A. F. Kraus, 1990. "Population Dynamics And Milk Supply Response In The Us Lake States," Journal of Agricultural Economics, Wiley Blackwell, vol. 41(1), pages 75-84, January.
    16. Webber, C. A. & Graham, J. D. & MacGregor, R. J., 1988. "A Regional Analysis of Direct Government Assistance Programs in Canada and their Impacts on the Beef and Hogs Sectors," Working Papers 244071, Agriculture and Agri-Food Canada.
    17. Subotnik, Abraham, 1981. "Theoretical Background and Empirical Supply Estimates of the U.S. Livestock Sector," Staff Reports 316797, United States Department of Agriculture, Economic Research Service.
    18. Graham, John D. & Stennes, Brad & MacGregor, Robert J. & Meilke, Karl & Moschini, Giancarlo, 1990. "The Effects of Trade Liberalization on the Canadian Dairy and Poultry Sectors," Working Papers 244045, Agriculture and Agri-Food Canada.
    19. repec:ags:ucdavw:225681 is not listed on IDEAS
    20. Mathews, Kenneth H., Jr. & Short, Sara D., 2001. "The Beef Cow Replacement Decision," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 19(2), pages 1-21.
    21. Muhammad Akmal, 1994. "The Production and Consumption of Livestock Foods in Pakistan: A Look into the Future," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 33(1), pages 19-39.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:ajagec:v:68:y:1986:i:1:p:55-66.. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://edirc.repec.org/data/aaeaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.