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A Multivariate Evaluation of Ex ante Risks Associated with Fed Cattle Production

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  • Eric J. Belasco
  • Sujit K. Ghosh
  • Barry K. Goodwin

Abstract

The purpose of this paper is to evaluate production risks faced by fed cattle producers. We do this by jointly modeling a group of cattle production yield risk factors using a multivariate dynamic regression model. The proposed econometric model estimates parameters that influence the mean and variance of production yield factors, as well as the covariance between variables, while accounting for a high degree of censoring through the use of a dynamic multivariate Tobit model. The model provides insights into the relationship between production yield factors in fed cattle production. Copyright 2007, Oxford University Press.

Suggested Citation

  • Eric J. Belasco & Sujit K. Ghosh & Barry K. Goodwin, 2007. "A Multivariate Evaluation of Ex ante Risks Associated with Fed Cattle Production," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 91(2), pages 431-443.
    • Handle: RePEc:oup:ajagec:v:91:y:2007:i:2:p:431-443
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    File URL: http://hdl.handle.net/10.1111/j.1467-8276.2008.01244.x
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    Cited by:

    1. Mutuc, Maria Erlinda M. & Rejesus, Roderick M. & Pan, Suwen & Yorobe, Jose M., 2012. "Impact Assessment of Bt Corn Adoption in the Philippines," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 44(1), pages 117-135, February.
    2. Belasco, Eric J. & Cheng, Yuanshan & Schroeder, Ted C., 2015. "The Impact of Extreme Weather on Cattle Feeding Profits," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 40(2), pages 1-21, May.
    3. James M. MacDonald, 2014. "Comment on "Influences of Agricultural Technology on the Size and Importance of Food Price Variability"," NBER Chapters, in: The Economics of Food Price Volatility, pages 54-58, National Bureau of Economic Research, Inc.
    4. Belasco, Eric J., 2008. "The Role of Price Risk Management in Mitigating Fed Cattle Profit Exposure," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 33(3), pages 1-17.

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