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Do Antibiotics Reduce Production Risk for U.S. Pork Producers?

Author

Listed:
  • Liu, Xuanli
  • Miller, Gay Y.
  • McNamara, Paul E.

Abstract

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 65–75 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.

Suggested Citation

  • Liu, Xuanli & Miller, Gay Y. & McNamara, Paul E., 2005. "Do Antibiotics Reduce Production Risk for U.S. Pork Producers?," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 37(3), pages 565-575, December.
    • Handle: RePEc:cup:jagaec:v:37:y:2005:i:03:p:565-575_02
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    Cited by:

    1. Michael G. Hogberg & Kellie Curry Raper & James F. Oehmke, 2009. "Banning subtherapeutic antibiotics in U.S. swine production: a simulation of impacts on industry structure," Agribusiness, John Wiley & Sons, Ltd., vol. 25(3), pages 314-330.
    2. Xiaoyu Bian & Guanxin Yao & Guohong Shi, 2020. "Social and natural risk factor correlation in China's fresh agricultural product supply," PLOS ONE, Public Library of Science, vol. 15(6), pages 1-13, June.
    3. Maples, Joshua G. & Lusk, Jayson L. & Peel, Derrell S., 2019. "Technology and evolving supply chains in the beef and pork industries," Food Policy, Elsevier, vol. 83(C), pages 346-354.
    4. William D. McBride & Nigel Key & Kenneth H. Mathews, 2008. "Subtherapeutic Antibiotics and Productivity in U.S. Hog Production," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 30(2), pages 270-288.
    5. Dagim G. Belay & Jørgen D. Jensen, 2022. "Quantitative input restriction and farmers’ economic performance: Evidence from Denmark's yellow card initiative on antibiotics," Journal of Agricultural Economics, Wiley Blackwell, vol. 73(1), pages 155-171, February.

    More about this item

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
    • R32 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Other Spatial Production and Pricing Analysis

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