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Southern Farmers' Exposure To Income Risk Under The 1996 Farm Bill

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  • Knutson, Ronald D.
  • Smith, Edward G.
  • Anderson, David P.
  • Richardson, James W.

Abstract

This paper investigates the farm-level impacts of the 1996 farm bill on the South. Focus group perceptions of risk sources, observed acreage changes, and the farm-level impact of increased price risk are evaluated. Focus group respondents ranked price and yield as the two most important sources of risk, and diversification was ranked highly as a risk-management tool. Limited data suggest that acreage shifts among crops are occurring in the South, presumably aided by the 1996 farm bill. Higher probabilities of cash flow deficits are estimated for cotton and rice relative to feedgrain, wheat, and oilseed operations.

Suggested Citation

  • Knutson, Ronald D. & Smith, Edward G. & Anderson, David P. & Richardson, James W., 1998. "Southern Farmers' Exposure To Income Risk Under The 1996 Farm Bill," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 30(1), pages 1-12, July.
    • Handle: RePEc:ags:joaaec:15101
    DOI: 10.22004/ag.econ.15101
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    References listed on IDEAS

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    1. Richardson, James W. & Nixon, Clair J., 1982. "Producer'S Preference For A Cotton Farmer Owned Reserve: An Application Of Simulation And Stochastic Dominance," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 7(1), pages 1-10, July.
    2. Duffy, Patricia A., 1997. "Is the New Deal Dead? Government, Economics, and the Rural South," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 29(1), pages 1-15, July.
    3. Duffy, Patricia A., 1997. "Is The New Deal Dead? Government, Economics, And The Rural South," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 29(1), pages 1-15, July.
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    Cited by:

    1. Weiss, Christoph R. & Briglauer, Wolfgang, 2000. "Determinants and Dynamics of Farm Diversification," FE Working Papers 0002, Christian-Albrechts-University of Kiel, Department of Food Economics and Consumption Studies.
    2. Elisa Gatto & Guido Signorino, 2011. "Long-run relationship between crop-biodiversity and cereal production under the CAP reform: evidence from Italian regions," ERSA conference papers ersa11p964, European Regional Science Association.
    3. Elanor Starmer & Aimee Witteman & Timothy A. Wise, "undated". "Feeding the Factory Farm: Implicit Subsidies to the Broiler Chicken Industry," GDAE Working Papers 06-03, GDAE, Tufts University.
    4. Elisa Gatto & Guido Signorino, 2014. "Crop-diversity and Cereal Production under the CAP Reform: Evidence from Italy," SCIENZE REGIONALI, FrancoAngeli Editore, vol. 2014(3), pages 35-50.
    5. 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), pages 1-8.
    6. Escalante, Cesar L. & Barry, Peter J., 2001. "Risk Balancing in an Integrated Farm Risk Management Plan," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 33(3), pages 413-429, December.
    7. Lien, Gudbrand D., 2002. "Assisting Whole-Farm Decision-Making through Stochastic Budgeting," 13th Congress, Wageningen, The Netherlands, July 7-12, 2002 6950, International Farm Management Association.
    8. Robinson, John R.C., 1999. "Risk Management through Alternative Production Practices and Management Strategies: Discussion," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 31(2), pages 287-289, August.
    9. Lien, Gudbrand, 2003. "Assisting whole-farm decision-making through stochastic budgeting," Agricultural Systems, Elsevier, vol. 76(2), pages 399-413, May.
    10. Isabel Dinis, 2019. "The Concept of Family Farming in the Portuguese Political Discourse," Social Sciences, MDPI, vol. 8(7), pages 1-15, July.
    11. Lien, Gudbrand D., 2002. "Assisting Whole-Farm Decision-Making Through Stochastic Budgeting," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24903, European Association of Agricultural Economists.

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    Keywords

    Agricultural and Food Policy;

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