Hostname: page-component-586b7cd67f-dsjbd Total loading time: 0 Render date: 2024-11-29T08:34:22.706Z Has data issue: false hasContentIssue false
  • English
  • Français

An E-V Analysis of Beef Calf Backgrounding Systems in Georgia

Published online by Cambridge University Press:  28 April 2015

Wesley N. Musser ,
W. D. Shurley  and
F. W. Williams
Wesley N. Musser
Affiliation:
Department of Agricultural Economics, University of Georgia University of Minnesota
W. D. Shurley
Affiliation:
Department of Agricultural Economics, University of Georgia
F. W. Williams
Affiliation:
Department of Agricultural Economics, University of Georgia
Get access Rights & Permissions [Opens in a new window]

Extract

Markowitz developed the theoretical background for analysis of investments in reference to the mean and variance of returns of the portfolio of all investments (E-V analysis). Subsequently, Freund adapted the E-V model to farm enterprise decisions, and agricultural economists have applied this model to various agricultural firm problems. The studies of Kliebenstein and Scott, Brink and McCarl, Heifner, Buccola and French, and Raikes, Sieck, and Miller are examples of applications to farm enterprise organization, farm commodity marketing, and procurement of farm commodities by agribusiness firms. These studies are concerned largely with either production or marketing decisions; applications to joint production and marketing decisions are more limited. Exceptions include Whitson, Barry, and Lacewell's study of vertical integration and Barry and Willmann's analysis of forward contracting. In addition, Lütgen and Helmers and Persuad and Mapp recently analyzed a limited number of marketing alternatives in conjunction with different enterprise alternatives.

Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 12 , Issue 2 , December 1980 , pp. 37 - 42
Copyright
Copyright © Southern Agricultural Economics Association 1980

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Allison, John R.Beef Production in Georgia. Resources Used and Operator Characteristics. Georgia Agricultural Experiment Station Res. Bull. No. 131, February 1974.Google Scholar
Barry, Peter J. and Willmann, D. R.. “A Risk Programming Analysis of Forward Contracting with Credit Constraints.” Amer. J. Agr. Econ. 58(1976):62–70.CrossRefGoogle Scholar
Bradford, Garnett L., et al. “Comparing Management Systems for Beef Cattle Backgrounding: A Multidisciplinary Approach.” S. J. Agr. Econ. 10(1978):57–62.Google Scholar
Brink, Lars and McCarl, Bruce. “The Tradeoff Between Expected Returns and Risk Among Corn-belt Farmers.” A mer. J. Agr. Econ. 60(1978):259–63.CrossRefGoogle Scholar
Buccola, Steven T. and French, Ben C.. “An E-V Analysis of Pricing Alternatives for Long-Term Marketing Contracts.” S. J. Agr. Econ. 9(1977):17–24.Google Scholar
Dillion John, L. The Analysis of Response in Crop and Livestock Production, second edition. New York: Pergamon Press, 1977.Google Scholar
Eidman, V. R., Dean, G. W., and Carter, H. O.. “An Application of Statistical Decision Theory to Commercial Turkey Production.“ J. FarmEcon. 49(1967):852–68.Google Scholar
Freund, Rudolf J. “The Introduction of Risk into a Programming Model.” Econometrica 24(1956): 253–63.CrossRefGoogle Scholar
Heifner, R. L. “Determining Efficient Seasonal Grain Inventories: An Application of Quadratic Programming.” J. FarmEcon. 48(1966):648–60.Google Scholar
Kliebenstein, James B. and Scott, John T. Jr. “Assessment of Risk When Contract Crops are Included Among Other Alternatives.“ S. J. Agr. Econ. 7( 1975): 105–110.Google Scholar
Levy, Haim and Sarnat, Marshall. “International Diversification of Investment Portfolios.” Amer. Econ. Rev. 60(1970):668–75.Google Scholar
Lutgen, Lynn H. and Helmers, Glen A.. “Simulation of Production-Marketing Alternatives for Grain Farms Under Uncertainty.” N. C. J. Agr. Econ. 1(1979):23–30.Google Scholar
Markowitz, Harry M. “Portfolio Selection.” J. Finan. 12(1952):77–91.Google Scholar
Persuad, Tillak and Mapp, Harry P. Jr. “Analysis of Alternative Production and Marketing Strategies in Southwestern Oklahoma: A MOTAD Approach.” Paper presented at annual meeting of Technical Committee of Western Regional Project W-149, Tucson, Arizona, January 16-18,1980.Google Scholar
Raikes, Ronald, Sieck, Gail M., and Miller, Katherine S.. “A Risk Programming Analysis of Cattle Procurement by Beef Packers.” S. J. Agr. Econ. 10(1978):43–8.Google Scholar
Schurle, Bryan and Erven, Bernard L.. “Sensitivity of Efficient Frontiers Developed for Farm Enterprise Choice Decisions.” Amer. J. Agr. Econ. 61(1979):506–11.CrossRefGoogle Scholar
Shurley, W. D. “Determining Optimal Marketing Strategies for Backgrounding Calves in the Georgia Middle Coastal Plain: An Application of Quadratic Programming.” Unpublished M.S. thesis, University of Georgia, 1977.Google Scholar
Shurley, W. D. and Williams, F. W.. Seasonal Relationships of Feeder Cattle and Calf Prices in Georgia. Georgia Agricultural Experiment Station Res. Rep. No. 312, May 1979.Google Scholar
Utley, Phillip R., Lowry, Robert S., and McCormick, William C.. “Corn Silage Plus Small Grain Pasture for Finishing Steers.” J. An. Sci 36(1973):423–7.CrossRefGoogle Scholar
Whitson, Robert E., Barry, Peter J., and Lacewell, Ronald D.. “Vertical Integration for Risk Management: An Application to a Cattle Ranch.” S. J. Agr. Econ. 8(1976):1–4.Google Scholar
Wise, James O. and Saunders, Fred B.. Maximizing Operator Returns on Large Commercial Farms in the Beef Producing Areas of the South. Southern Cooperative Series Bull 217, June 1977.Google Scholar