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Author: Matthew Abbott Herrington Publisher: ISBN: Category : Languages : en Pages :
Book Description
Cattle feeders face significant profit risk when placing cattle on feed. Risks arise from both financial and biological sources. To date, few standardized measures exist to measure current risks against historic levels, or to obtain forward looking risk estimates. Those that do exist could benefit from updates and inclusion of additional risk elements. This study measures the risk of expected profits when cattle are placed on feed. This study creates a forward-looking estimate of expected feedlot profits using futures and options market data as price forecasts. Joint probability distributions are created for prices and cattle performance variables affecting feedlot profit margins. Monte Carlo simulation techniques are then employed to generate probability distributions of expected feedlot profits. Results show cattle feeding is a risky business and cattle feeders have been placing cattle on feed facing significantly negative expected returns since June, 2010. This assessment of negative expected profits is consistent with other findings. Over the study's 2002 to 2013 time frame, the relative risk to cattle feeding profits accounted for by feed costs has been increasing, while the relative risk levels from feeder cattle and fed cattle prices remain steady. Additionally, the probability of realized per-head profits greater than $100 has been decreasing since 2009 and the probability of realized per-head profits less than $-100 has been increasingly rapidly.
Author: Matthew Abbott Herrington Publisher: ISBN: Category : Languages : en Pages :
Book Description
Cattle feeders face significant profit risk when placing cattle on feed. Risks arise from both financial and biological sources. To date, few standardized measures exist to measure current risks against historic levels, or to obtain forward looking risk estimates. Those that do exist could benefit from updates and inclusion of additional risk elements. This study measures the risk of expected profits when cattle are placed on feed. This study creates a forward-looking estimate of expected feedlot profits using futures and options market data as price forecasts. Joint probability distributions are created for prices and cattle performance variables affecting feedlot profit margins. Monte Carlo simulation techniques are then employed to generate probability distributions of expected feedlot profits. Results show cattle feeding is a risky business and cattle feeders have been placing cattle on feed facing significantly negative expected returns since June, 2010. This assessment of negative expected profits is consistent with other findings. Over the study's 2002 to 2013 time frame, the relative risk to cattle feeding profits accounted for by feed costs has been increasing, while the relative risk levels from feeder cattle and fed cattle prices remain steady. Additionally, the probability of realized per-head profits greater than $100 has been decreasing since 2009 and the probability of realized per-head profits less than $-100 has been increasingly rapidly.
Author: United States. Congress. House. Committee on Agriculture. Subcommittee on General Farm Commodities and Risk Management Publisher: ISBN: Category : Business & Economics Languages : en Pages : 124
Author: United States. Congress. House. Committee on Agriculture. Subcommittee on General Farm Commodities and Risk Management Publisher: ISBN: Category : Political Science Languages : en Pages : 108
Author: National Research Council Publisher: National Academies Press ISBN: 0309168643 Category : Science Languages : en Pages : 286
Book Description
Air Emissions from Animal Feeding Operations: Current Knowledge, Future Needs discusses the need for the U.S. Environmental Protection Agency to implement a new method for estimating the amount of ammonia, nitrous oxide, methane, and other pollutants emitted from livestock and poultry farms, and for determining how these emissions are dispersed in the atmosphere. The committee calls for the EPA and the U.S. Department of Agriculture to establish a joint council to coordinate and oversee short - and long-term research to estimate emissions from animal feeding operations accurately and to develop mitigation strategies. Their recommendation was for the joint council to focus its efforts first on those pollutants that pose the greatest risk to the environment and public health.
Author: National Research Council Publisher: National Academies Press ISBN: 0309257824 Category : Science Languages : en Pages : 132
Book Description
Safeguarding U.S. agriculture from foreign animal diseases and protecting our food system require cutting-edge research and diagnostic capabilities. The Department of Homeland Security (DHS) and the U.S. Department of Agriculture (USDA) have embarked on an important mission to replace the aging Plum Island Animal Disease Center (PIADC) with a new facility, the National Bio- and Agro-Defense Facility (NBAF). When operational, this new facility would be the world's fourth biosafety level-4 laboratory capable of large animal research. It would serve as a critical world reference laboratory for identifying emerging and unknown disease threats, and would thus be a critical asset in securing the future health, wealth, and security of the nation. DHS selected Manhattan, Kansas, as the site for the new NBAF after an extensive site-selection process that involved an environmental impact statement. The Government Accountability Office (GAO) raised concerns about DHS's analysis of the potential spread of foot-and-mouth disease virus (FMDv), one of the most serious foreign animal disease threats. Congress directed DHS to conduct a site-specific risk assessment (SSRA) for the NBAF, instructed the National Research Council (NRC) to independently evaluate the SSRA, and prohibited obligation of NBAF construction funds until the NRC review was complete. Congress mandated that DHS revise its SSRA to address shortcomings of the 2010 SSRA, directed the NRC to evaluate the updated SSRA (uSSRA), and again prohibited obligation of construction funds until the completion of the second review. The scope for both of these SSRA reports addressed accidental release of pathogens from the NBAF in Manhattan, Kansas and excluded terrorist acts and malicious threats from its risk assessments. Evaluation of the Updated Site-Specific Risk Assessment for the National Bio- and Agro-Defense Facility in Manhattan, Kansas is the evaluation of the final uSSRA.
Author: United States. Congress. House. Committee on Appropriations. Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Publisher: ISBN: Category : Rural development Languages : en Pages : 816
Author: Matthew Abbott Herrington
Author: Matthew Abbott Herrington
Author: 
Author: United States. Congress. House. Committee on Agriculture. Subcommittee on General Farm Commodities and Risk Management
Author: United States. Congress. House. Committee on Agriculture. Subcommittee on General Farm Commodities and Risk Management
Author: 
Author: National Research Council
Author: National Research Council
Author: Federal Reserve Bank of Kansas City
Author: United States. Congress. House. Committee on Appropriations. Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies
Author: Federal Reserve Bank of Kansas City