提示：点击上方的”全文翻译“按钮可以查看机器翻译的中文版。https://www.cambridge.org/core/journals/journal-of-agricultural-and-applied-economics/issue/F08A9443AC192445EC67AC9DFDBA5EF3The Impact of Subsidies on Persistent and Transient Technical Inefficiency: Evidence from Polish Dairy Farms
Andrzej Pisulewski, Jerzy MarzecTrips to Food Services, Food Retailers, and their Relationship with the Healthfulness of Food Purchases
Jackie Yenerall, Wen You, Jennie HillOpportunity Cost: An Economic Concept That May Improve the Functioning of Federal Milk Marketing Orders and the U.S. Dairy Industry
John L. Mykrantz, Marin BozicNot All Juices are the Same: The Superior Perception of and Preference for Florida Orange Juice
Yan Heng, Sungeun Yoon, Lisa House, Zhifeng GaoEconomic Enfranchisement, Goal Setting, and Rural Development
Susan Hackett, Philip WatsonBenefits of Preconditioning Cattle under Stochastic Feedlot Performance
Leslie J. Verteramo Chiu, Loren W. Tauer, Karun Kaniyamattam, Guillaume Lhermie, Yrjo T. GröhnOutstanding in the Field: Impacts of Public Small Grains Breeding in Virginia
Ben Garber, Jeffrey Alwang, George W. NortonEconomics of Smaller Aberdeen-Derived Beef Cows
Eric A. DeVuyst, Meredith Munson, B. Wade Brorsen, David Lalman, Lauren L. Hulsman Hanna, Kendall Swanson, Kris RingwallValuation of Genomic-Enhanced Expected Progeny Differences in Bull Purchasing
Taylor Thompson, Christopher N. Boyer, Charles C. Martinez, Troy N. Rowan, Justin RhinehartThe Impact of Fundamentals on Volatility Measures of Agricultural Substitutes
Alankrita Goswami, Berna KaraliDoes Rice Quality Matter? Understanding Consumer Preferences for Rice in Nigeria
Bailey Peterson-Wilhelm, Lawton Lanier Nalley, Alvaro Durand-Morat, Aaron ShewDo Extreme CIT Position Changes Move Prices in Grain Futures Markets?
Jiarui Li, Scott H. Irwin, Xiaoli Etienne
The Impact of Subsidies on Persistent and Transient Technical Inefficiency: Evidence from Polish Dairy Farms
Andrzej Pisulewski, Jerzy MarzecAbstract: We investigate the impact of five types of subsidies granted under the European Union Common Agricultural Policy on the persistent and transient inefficiency of Polish dairy farms. Our research shows that coupled and environmental subsidies reduce transient technical inefficiency, while the opposite is true for Less Favoured Areas (LFA) and other rural subsidies. Simultaneously, environmental, LFA, and other rural subsidies increase persistent technical inefficiency. These results imply that the impact of each type of subsidy on technical efficiency can be different and that the effect of the particular type of subsidy can vary between transient and persistent technical inefficiency.Trips to Food Services, Food Retailers, and their Relationship with the Healthfulness of Food Purchases
Jackie Yenerall, Wen You, Jennie HillAbstract: This study investigates the relationship between household utilization of food services and retailers and the healthfulness of purchases using data from the 2013 Food Acquisition and Purchase Survey. Overall, our findings suggest that the associations between food service or retailer utilization and the healthfulness of purchases are limited. Thus, interventions may need to be targeted to specific households based on patterns of utilization. We also find evidence for an interdependent relationship between food at home and away from home food shopping behaviors with implications for the healthfulness of purchases.Opportunity Cost: An Economic Concept That May Improve the Functioning of Federal Milk Marketing Orders and the U.S. Dairy Industry
John L. Mykrantz, Marin BozicAbstract: In the United States, over 70% of milk production is priced under Federal Milk Marketing Orders (FMMOs). A primary purpose of FMMOs is to facilitate orderly allocation of milk as a limited, perishable resource among alternative uses. Fundamental to FMMOs are the regulatory prices applicable to milk used in cheese and whey (Class III), and nonfat dry milk and butter (Class IV). This work examines a novel milk pricing method based on the concept of opportunity cost for milk used in cheese and whey. This novel method may improve the functioning of FMMOs and the U.S. dairy industry.Not All Juices are the Same: The Superior Perception of and Preference for Florida Orange Juice
Yan Heng, Sungeun Yoon, Lisa House, Zhifeng GaoAbstract: The Florida orange juice industry has experienced great challenges—declining orange juice consumption and a domestic supply shortage that has led to increasing imports over the past decade. As growers look for a foothold, the question remains whether it is better to continue promoting orange juice (OJ) sales by focusing on the Florida “brand” or whether orange juice, in general, should be promoted using a federal marketing program. This study aims to identify the value of promoting “Florida” on OJ products to help the industry understand the potential benefits of enhancing the image of “Florida” in consumers’ perceptions of OJ.Economic Enfranchisement, Goal Setting, and Rural Development
Susan Hackett, Philip WatsonAbstract: This analysis introduces a conceptual framework for economic enfranchisement and studies its effect on an individual’s likelihood to set strong financial goals. A conceptual and empirical model is developed to investigate how economic enfranchisement influences an individual’s likelihood to set a goal and the strength of that goal. The empirical analysis employs an ordered probit to account for the two-stage goal-setting and goal strength decision process. Results show that economic enfranchisement has a significant effect on an individual’s likelihood to set financial goals where more enfranchised individuals are more likely to set strong goals than their disenfranchised counterparts.Benefits of Preconditioning Cattle under Stochastic Feedlot Performance
Leslie J. Verteramo Chiu, Loren W. Tauer, Karun Kaniyamattam, Guillaume Lhermie, Yrjo T. GröhnAbstract: Preconditioning cattle, a management practice of preparing cattle for feedlots as well as following a vaccination protocol for common diseases, has been shown to add value to cattle by reducing disease incidence and severity, yet it is not universally adopted. We estimated the benefits to a beef system of preconditioning weaned calves versus not preconditioning under stochastic returns. Purchasing preconditioned calves makes economic sense, but market efficiency requires complete information of the health status of the cattle, feedlot performance, along with the right market mechanisms, which may not be available in all markets.Outstanding in the Field: Impacts of Public Small Grains Breeding in Virginia
Ben Garber, Jeffrey Alwang, George W. NortonAbstract: New production from public and exclusive varieties released by the small grains breeding program at Virginia Tech generated cumulative discounted benefits of $41 million from 2000 to 2018. Fitted yields from field trials were combined with acreage estimates to generate weighted average yields based on adoption of new varieties. Benefits were estimated as the value of additional production from the release and adoption of improved varieties. Public varieties were responsible for most program benefits. The program was found to have a significant impact in Virginia and out-of-state, with much of these benefits due to public-private collaboration.Economics of Smaller Aberdeen-Derived Beef Cows
Eric A. DeVuyst, Meredith Munson, B. Wade Brorsen, David Lalman, Lauren L. Hulsman Hanna, Kendall Swanson, Kris RingwallAbstract: We investigate differences in profitability of three Aberdeen-influenced breeds, Angus, Red Angus, and American Aberdeen. Using data from North Dakota, we measure differences in birth weights, calving intervals, weaning weights, cow weights, and profitability. Weaning weights differ between breeds, setting up a trade-off between lower feed costs for smaller cows and higher revenue for larger cows. American Aberdeen-influenced cows bred to Red Angus bulls have $1–$6 per acre higher returns than Angus or Red Angus-influenced cows. Aberdeen sires have the lowest returning calves.Valuation of Genomic-Enhanced Expected Progeny Differences in Bull Purchasing
Taylor Thompson, Christopher N. Boyer, Charles C. Martinez, Troy N. Rowan, Justin RhinehartAbstract: We estimate a hedonic pricing model to determine producers’ value for bull expected progeny differences (EPDs), genomic-enhanced EPDs, and phenotypic traits. Birth weight EPD, ribeye area EPD, sale weight, age, frame score, and other factors had a statistically significant impact on bull prices. GE-EPDs were not associated with a change in the bull sales prices expect for weaned calf value and birth weight EPDs. Including weaned calf value and GE-EPDs in a bull hedonic pricing model provides a unique contribution. The results from this work will inform educational programming for bull purchasers on using new economic selection indices and GE-EPDs.The Impact of Fundamentals on Volatility Measures of Agricultural Substitutes
Alankrita Goswami, Berna KaraliAbstract: This study builds upon the existing literature on the Working curve and backwardation to explore the impact of storage regimes on the volatility measures of substitute agricultural commodity markets. We investigate the impact of commodity fundamentals (storage regime and stocks-to-use ratio), commodity-specific financial variables (options hedging pressure-long and -short), world economic activity, market-wide volatility index, seasonality, and time-to-maturity on nearby and deferred implied volatility (IV) series of selected commodity pairs of corn-soybean and winter wheat-spring wheat. Our work confirms that, in some cases, grain and oilseed IV derived from options premia respond to shocks in commodity (and substitute commodity) fundamentals which are in line with the behaviour of volatility in futures markets. Own-storage regime effects on price variability are stronger in the selected markets, while spillover effects from substitute commodity storage regimes show a modest impact on volatilities. We also find some evidence for the stocks-to-use ratio of both corn and soybean to impact both their own and each other’s IV, while options hedging pressure has some impact only on wheat IVs.Does Rice Quality Matter? Understanding Consumer Preferences for Rice in Nigeria
Bailey Peterson-Wilhelm, Lawton Lanier Nalley, Alvaro Durand-Morat, Aaron ShewAbstract: Rice is a staple crop in Nigeria. Even with a push to increase domestic production, little is known about the functionality of Nigeria’s open bag markets and the preferences of consumers for specific rice attributes. Our study uses a hedonic price model to identify quality attribute preferences of consumers and potential market failures. Our results indicate that Nigerian consumers prefer rice with homogenous long slender kernels and a low presence of broken rice and are indifferent to chalkiness. The findings are useful as they can inform future strategies for rice breeders, domestic policy makers, and rice exporters.Do Extreme CIT Position Changes Move Prices in Grain Futures Markets?
Jiarui Li, Scott H. Irwin, Xiaoli EtienneAbstract: Most previous studies reject the basic tenet of the Masters Hypothesis that the influx of financial index investments has pressured agricultural futures prices upwards substantially. However, the impact of index investment activities may be more complicated and nuanced than can be detected by the relatively simple linear Granger causality tests used in many previous studies. Our study applies a new cross-quantilogram (CQ) test to weekly index trader positions and returns in four agricultural futures markets. Overall, we find limited support for a significant relationship between extreme index trader position changes and returns, and even less support that increased index trading activities have pushed commodity prices higher.
——END