Several recent papers have used annual changes and monthly data to estimate demand systems. Such use of overlapping data introduces a moving average error term. This paper shows how to obtain consistent and asymptotically efficient estimates of a demand system using seasonally differenced data....

Increased demand for corn for ethanol production has helped push grain prices to record levels. This has increased livestock production costs, and producers have responded with changes to production systems. This paper explores the degree to which costs can be mitigated with alternative feeds,...

This research evaluates whether the introduction of countercyclical payments creates an incentive for program crop producers to hedge the expected government payment using futures and/or options. Results indicate that some level of countercyclical payment hedging is optimal for risk-averse...

In this study, we used farm-level data from a university feed-out program to evaluate how the value of feeder cattle ultimately realized through finishing and grid pricing differs from their market value at public auction. Consistent with the theory of factor price disparity results indicate...

Real-time ultrasound information taken on beef heifers prior to backgrounding is used to develop a logit model to aid heifer retention decisions. The value of ultrasound data is calculated as the difference in certainty equivalents between a decision rule incorporating ultrasound information and...