Livestock Gross Margin Insurance for Dairy Cattle: An Analysis of Program Performance and Cost under Alternative Policy Configurations
AbstractLivestock Gross Margin insurance for dairy cattle (LGM-Dairy) is a risk management tool that can be used to insure a lower bound on a dairy producer’s gross margin. In this paper we (1) review the basic structure of LGM-Dairy (2) examine the sensitivity of Gross Margin Guarantee (GMG) and premium to changes in feeding regimes and (3) quantify impacts of changes in deductible level on important program characteristics.
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Bibliographic InfoPaper provided by Agricultural and Applied Economics Association in its series 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin with number 49262.
Date of creation: 2009
Date of revision:
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Dairy Price Risk; Uncertainty; Livestock Insurance.; Agribusiness; Farm Management; Financial Economics; Livestock Production/Industries; Production Economics; Risk and Uncertainty;
This paper has been announced in the following NEP Reports:
- NEP-AGR-2009-05-16 (Agricultural Economics)
- NEP-ALL-2009-05-16 (All new papers)
- NEP-IAS-2009-05-16 (Insurance Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hart, Chad E. & Hayes, Dermot J. & Babcock, Bruce A., 2003.
"Insuring Eggs in Baskets: Should the Government Insure Individual Risks?,"
Staff General Research Papers
10669, Iowa State University, Department of Economics.
- Chad E. Hart & Dermot J. Hayes & Bruce A. Babcock, 2006. "Insuring Eggs in Baskets: Should the Government Insure Individual Risks?," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 54(1), pages 121-137, 03.
- Chad E. Hart & Dermot J. Hayes & Bruce A. Babcock, 2003. "Insuring Eggs in Baskets," Center for Agricultural and Rural Development (CARD) Publications 03-wp339, Center for Agricultural and Rural Development (CARD) at Iowa State University.
- Valvekar, Mayuri & Chavas, Jean P. & Gould, Brian W. & Cabrera, Victor E., 2011. "Revenue risk management, risk aversion and the use of Livestock Gross Margin for Dairy Cattle insurance," Agricultural Systems, Elsevier, vol. 104(9), pages 671-678.
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