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Financial And Environmental Tradeoffs Of Phosphorus Management Practices On Vermont Dairy Farms

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  • Parsons, Robert L.

Abstract

FLIPSim is combined with GISPLM to provide policymakers and dairy farmers estimated farm financial impacts on the implementation of 8 Best Management Practices (BMP) designed to reduce phosphorus loading in Lake Champlain. Financial performance indicators are derived for three Vermont dairy farms (60, 150, and 350 cows). Results indicate that feed reformulation and nutrient management are the least cost BMPs but that a combination of 4 BMPs cannot meet the 8% reduction goal. Additional, less effective but more costly BMPs will have to be implemented to meet the goal. None of the individual BMPs cause any of the farms to go out of business. However, the initial declining financial position of the small farm is hastened by the implementation of all BMP's except the row crop field buffer and feed reformulation. The medium farm is also threatened by several costly BMPs. Achieving the desired goal will have an adverse financial impact on watershed farms.

Suggested Citation

  • Parsons, Robert L., 2002. "Financial And Environmental Tradeoffs Of Phosphorus Management Practices On Vermont Dairy Farms," 2002 Annual meeting, July 28-31, Long Beach, CA 19786, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea02:19786
    DOI: 10.22004/ag.econ.19786
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    References listed on IDEAS

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    1. Hanchar, John J. & Knoblauch, Wayne A. & Milligan, Robert A., 1998. "Constraining Phosphorus in Surface Water: Dairy Farm Resource Use and Profitability," Working Papers 179328, Cornell University, Department of Applied Economics and Management.
    2. Schnitkey, Gary D. & Miranda, Mario J., 1993. "The Impact Of Pollution Controls On Livestock-Crop Producers," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 18(1), pages 1-12, July.
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