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Some Productivity-Increasing and Quality-Changing Technology for the Soybean Complex: Market and Welfare Effects

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  • Paul W. Gallagher

Abstract

Simulations suggest that soybeans with less protein and more oil would alter quality and change quantities on the market. Substitution toward other protein feeds, like fishmeal, would mitigate the benefits from restricted soymeal supply. Thus, there would not be a net welfare gain for the United States, only a redistribution of benefits. But a joint yield increase and composition change would benefit the United States, mainly because livestock producers would pay lower feed prices. Also, industrial processing of soybean oil would become competitive. Hence, soybean research should pursue yield increases by allowing protein reductions. Copyright 1998, Oxford University Press.

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  • Paul W. Gallagher, 1998. "Some Productivity-Increasing and Quality-Changing Technology for the Soybean Complex: Market and Welfare Effects," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(1), pages 165-174.
    • Handle: RePEc:oup:ajagec:v:80:y:1998:i:1:p:165-174
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    Cited by:

    1. Gallagher, Paul W. & Shapouri, Hosein & Price, Jeffrey & Schamel, Guenter & Brubaker, Heather, 2003. "Some long-run effects of growing markets and renewable fuel standards on additives markets and the US ethanol industry," ISU General Staff Papers 200309010700001445, Iowa State University, Department of Economics.
    2. Bohorova, Svetlana & Scrimgeour, Frank G., 2000. "Evaluating The Potential Productivity Gains Associated With Biotechnological Improvement: The Case Of Kiwifruit In New Zealand," Transitions in Agbiotech: Economics of Strategy and Policy, June 24-25, 1999, Washington, D.C. 25995, Regional Research Project NE-165 Private Strategies, Public Policies, and Food System Performance.
    3. Gallagher, Paul W., 2014. "The regional effects of a biomass fuel industry on US agriculture," Energy Policy, Elsevier, vol. 69(C), pages 598-609.
    4. Gallagher, Paul W. & Shapouri, Hosein & Price, Jeffrey & Schamel, Guenter & Brubaker, Heather, 2003. "Some long-run effects of growing markets and renewable fuel standards on additives markets and the US ethanol industry," Journal of Policy Modeling, Elsevier, vol. 25(6-7), pages 585-608, September.

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