Do Antibiotics Reduce Production Risk for U.S. Pork Producers?
We combine econometric and financial analyses of the NAHMS 2000 Swine Survey data to examine whether evidence exists for reducing risk by using antibiotics for growth promotion (AGP) in the U.S. swine industry. A stochastic dominance analysis of alternative lengths of time (days) of AGP application reveals that AGP used in the range of 65â€”75 days is preferred by risk-averse producers. Risk is reduced and profits are increased from use of AGP. The combined impacts of increased average daily gain and decreased variability in pig live weight increase producer profits by $2.99 per pig marketed.
Volume (Year): 37 (2005)
Issue (Month): 03 (December)
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"Futures Hedging Under Price, Basis, and Production Risk,"
American Journal of Agricultural Economics,
Agricultural and Applied Economics Association, vol. 76(3), pages 465-477.
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