Analysis of Beef Producers' Risk Management Perceptions and Desire for Further Risk Management Education
AbstractBeef cattle producers were surveyed in Texas and Nebraska to investigate perceptions of sources of risk, the effectiveness of risk management strategies, and interest in further risk management education, particularly production risk, using probit analysis. Important decision variables identified are age, prior use of risk management tools, previous attendances of risk management education, and risk aversion. Severe drought and cattle price variability are identified as primary risk factors with potential to affect farm income. Extremely cold weather and disease are of less importance. Understocking pasture and storing hay are perceived most effective as risk management options. Copyright 2003, Oxford University Press.
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Bibliographic InfoArticle provided by Agricultural and Applied Economics Association in its journal Review of Agricultural Economics.
Volume (Year): 25 (2003)
Issue (Month): 2 ()
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- Rejesus, Roderick M. & Knight, Thomas O. & Jaramillo, Mauricio & Coble, Keith H. & Patrick, George F. & Baquet, Alan E., 2008. "Preference for Risk Management Information Sources: Implications for Extension and Outreach Programming," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 37(1), April.
- Nguyen, Nam C. & Wegener, Malcolm K. & Russell, Iean W. & Cameron, Donald & Coventry, David & Cooper, Ian M., 2007. "Risk management strategies by Australian farmers: two case studies," AFBM Journal, Australasian Farm Business Management Network, vol. 4(1/2).
- Bastian, Christopher T. & Nagler, Amy M. & Hewlett, John P. & Weigel, Randolph R., 2006. "Risk Management for Ag Families: An Extension Model for Improving Family Business Success," 2006 Annual meeting, July 23-26, Long Beach, CA 21352, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- 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), December.
- Nguyen, Nam C. & Wegener, Malcolm K. & Russell, Iean W. & Cameron, Donald & Coventry, David & Cooper, Ian M., 2005. "Risk Management Strategies by Australian Farmers," 15th Congress, Campinas SP, Brazil, August 14-19, 2005 24295, International Farm Management Association.
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