Author: Heath ColesPublisher:
ISBN:
Category : Beef cattle
Languages : en
Pages : 268
Book Description
Risk and Return Analysis of Beef Feedlot Investments in Alberta
Author: Heath ColesPublisher:
ISBN:
Category : Beef cattle
Languages : en
Pages : 268
Book Description
Risk and Return Analysis to Beef Feeder Cattle Investments in Alberta
Author: Project Report
Author: Masters Theses in the Pure and Applied Sciences
Author: Wade H. ShaferPublisher: Springer Science & Business Media
ISBN: 1461534747
Category : Science
Languages : en
Pages : 421
Book Description
Masters Theses in the Pure and Applied Sciences was first conceived, published, and disseminated by the Center for Information and Numerical Data Analysis and Synthesis (CINDAS) * at Purdue University in 1957, starting its coverage of theses with the academic year 1955. Beginning with Volume 13, the printing and dissemination phases of the activity were transferred to University Microfilms/Xerox of Ann Arbor, Michigan, with the thought that such an arrangement would be more beneficial to the academic and general scientific and technical community. After five years of this joint undertaking we had concluded that it was in the interest of all con cerned if the printing and distribution of the volumes were handled by an interna tional publishing house to assure improved service and broader dissemination. Hence, starting with Volume 18, Masters Theses in the Pure and Applied Sciences has been disseminated on a worldwide basis by Plenum Publishing Cor poration of New York, and in the same year the coverage was broadened to include Canadian universities. All back issues can also be ordered from Plenum. We have reported in Volume 34 (thesis year 1989) a total of 13,377 theses titles from 26 Canadian and 184 United States universities. We are sure that this broader base for these titles reported will greatly enhance the value of this important annual reference work. While Volume 34 reports theses submitted in 1989, on occasion, certain univer sities do report theses submitted in previous years but not reported at the time.
Staff Paper
Author: An Analysis of Risk Management Strategies for Southern Alberta Feedlots [microform]
![An Analysis of Risk Management Strategies for Southern Alberta Feedlots [microform] PDF](https://books.google.com/books/content/images/frontcover/xD70MwEACAAJ?fife=w80-h100)
Author: Brian S. FreezePublisher: Ann Arbor, Mich. : University Microfilms International
ISBN:
Category : Beef cattle
Languages : en
Pages : 552
Book Description
Feedlot finishing of beef cattle in Southern Alberta involves income risk due to the variability of prices of feeders, feed and finished cattle. Several strategies are available to reduce this risk, including hedging of cattle on feed, participation in a Federal- Provincial government and producer established income stabilization program for finished cattle (National Tripartite Stabilization Plan) and diversification of production plans. This study evaluated the efficacy and interaction effects of these strategies in reducing net income variability in cattle feeding in Southern Alberta. Concerns that were addressed included: (1) whether participation in hedging or Stabilization would increase firm-level slaughter cattle output, (2) whether portfolio effects exist between production and marketing alternatives, (3) whether participation in Stabilization would reduce participation in hedging (4) whether hedging performance could be increased by hedging the Canadian dollar, and (5) whether privately supplied hedging versus publicly supplied Stabilization is better able to handle income risk in cattle feeding. The theory of decision making under uncertainty was reviewed to determine how to best incorporate the risk aspects of the feedlot, management problem. Expected Value-Variance (EV)and safety-first risk analyses were identified as frameworks for formulation of the feedlot management problem in a mathematical programming context. Using data from 1976-87, linear risk programming (MOTAD and Target MOTAD) models of the feedlot process were constructed to analyze the alternatives for reducing income risk. Results for the 1986-87 feeding year suggested that, at moderate levels of risk aversion, feedlot managers should maintain high levels of hedging of both live cattle and the Canadian dollar with moderate participation (25 percent of cattle on feed) in the Stabilization plan. Significant portfolio effects were present. Hedging, but not Stabilization, was found to increase firm-level output by increasing the average weight to which a group of cattle would be finished. Participation in Stabilization was found to reduce hedging participation by an average of 10 percent. Hedging of the Canadian dollar improved the performance of live cattle hedging. Whether hedging was better at reducing risk and maintaining income than Stabilization depended on the definition of risk.
Dynamic Adjustment Models of the Alberta Beef Industry Under Risk and Uncertainty
Author: Dynamic Adjustment Models of the Alberta Beef Industry Under Risk and Uncertainty
Author: Publisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
The purpose of this thesis is to develop and estimate dynamic models of cow-calf and feedlot production decisions in Alberta under risk aversion and output price uncertainty. The thesis consists of two studies. The first study specifies and estimates reduced form Autoregressive Distributed Lag (ADL) and Polynomial Distributed Lag (PDL) models incorporating price uncertainty. ADL and PDL models are estimated assuming distributed lags for variance of output price. The sum of lagged coefficients for output price variance is negative and significant, as expected. The elasticity is much smaller than for the (positive) sum of lagged coefficients for expected price, as anticipated. The second study specifies and estimates dynamic Euler equation models of beef supply and investment under risk aversion and uncertainty. A beef output supply equation and an Euler equation for investment in breeding herd were specified assuming both linear and nonlinear mean-variance risk preferences. Results for the structural cow-calf models are consistent with economic theory. Output supply and investment are increasing in expected output price and decreasing in price variance, and the shadow price of capital is increasing in expected price and decreasing in price variance. There are indications that dynamics is less important in feedlot production than in cow-calf production, simply because biological lags are much shorter in feedlot production. Results for Euler equations suggest that feedlot investment decisions are influenced by expected output price variance, consistent with economic theory. To my knowledge, this is the first study of beef supply response to attempt to incorporate risk aversion. As a result, represents a significant departure from previous studies in the same area that have exclusively assumed risk neutrality by excluding the influence of uncertainty on decisions.
Economics of Feedlot Finishing of Beef Cattle
Author: Alberta. Department of Agriculture. Farm Economics BranchPublisher:
ISBN:
Category : Beef cattle
Languages : en
Pages : 17
Book Description
Investment Decision Analysis of Alberta Cattle Industry
Author: Yu DengPublisher:
ISBN:
Category : Cattle trade
Languages : en
Pages : 332
Book Description