We use survey data to study the degree to which new farming operations inAlabama were financially constrained after the 2008 financial crisis. Next,we control for farmers' self-selection out of the credit market and identifywhich farmers were able to secure loans during the period of 2009–2010. Theresults show that new farmers that started any part of their operation after2005 were financially constrained but no evidence that their financingconstraints were affected by the crisis. As expected, we find that lendingwas collateral-driven, although lenders also considered farmers'profitability and cash flows.

The lease hunting system in Texas is described and discussed. Results of a hunter survey are reported and the value of ingress rights for white-tailed deer hunting in Texas is estimated. Results suggest that these rights are highly valuable and that services and facilities provided generally do not enhance the value of the hunting experience as much as access to additional game species on adequately large parcels of land.

We determined the profitability and risk for spring- and fall-calving beef cows in Tennessee. Simulation models were developed using 19 years of data and considered the seasonality of cattle prices and feed prices for least-cost feed rations to find a distribution of net returns for spring- and fall-calving seasons for two weaning months. Fall calving was more profitable than the spring calving for all feed rations and weaning months. Fall calving was also risk preferred over spring calving for all levels of risk aversion. Higher calf prices at weaning were the primary factor influencing the risk efficiency of fall calving.

Hedonic modeling of Oklahoma cow auction data is used to determine the market value of bred cow characteristics. We use Agricultural Marketing Service data that let us consider more years and more lots of cattle than is typical for a cattle hedonic study. The greatest price premiums were for black, late-gestating cows, categorized as high quality by market reporters and weighing between 1,600 and 1,700 lb. Previous research on optimal cow size finds much smaller-size cows are optimal, and our research finds that larger cows receive a lower price per pound but still receive a substantially higher price per head.

This study investigates which factors may influence producers’ use of irrigation technologies and/or water management practices (WMPs). One major finding is that Arkansas producers are more likely to rely on WMPs instead of sprinkler irrigation as a response to changes in depth to water and drought occurrences. This finding highlights the importance of expanding the existing literature that focuses mostly on more efficient irrigation technologies, especially in areas where WMPs are more prevalent. Climate factors also play a role. Sprinkler systems are more prevalent in regions with lower average temperature. WMPs are used to mitigate the impact of more frequent droughts.

A triple hurdle model estimates cattle farmer willingness to adopt or expand prescribed grazing on pasture in the United States in response to a hypothetical incentive program. Interest in adoption/expansion is estimated first, then willingness to participate in the program, followed by intensity of participation measured as additional acres enrolled. The supply elasticity of enrolled acres with respect to the incentive is 0.13. Nonpecuniary factors inter alia farmer sentiment about stewardship, current farm management practices, farm location, and education are associated with farmer willingness to participate and with participation intensity.

A descriptive analysis and a survey of literature were used in this assessment of the transformation of the structure of production agriculture. The changes in production agriculture have important implications for resource use, population distribution in rural communities, and the survival of small farms. The shifting structural change in production agriculture as a response to economic and technological adjustments is not a temporary phenomenon. The economic and natural base of agriculture will change toward greater capital intensity and concentration of ownership, and will raise public policy questions in relation to the survival of a large farm population.

This study investigates the long-term adjustments to drought by crop and livestock sectors using a dynamic partial equilibrium quarterly model of the U.S. agricultural economy. Results show that short-term drought effects including increases in crop and forage prices are in tandem with decreased live cattle prices resulting from drought-induced beef cattle herd liquidation. Crop price increases in the long run cause livestock inventory reductions, leading to fewer animals moving through the U.S. meat supply chain and increased livestock prices. Longer-term market adjustments cause a significant decrease in consumer surplus, and prolonged drought amplifies and extends the model-predicted results.

The effect of negative publicity on consumer demand for brands is examined in the context of recall of a peanut butter brand as a result of pathogen contamination. The recall was associated with negative impacts for the implicated brand and positive effects on the leading competitor brand. Consumers responded to the foodborne illness outbreak within three weeks. The case demonstrates that consumer response is an incentive for companies to prevent safety lapses and that the problems of one brand do not necessarily harm rivals within the category.

This article examines the economics of groundwater irrigation and shallow tubewell (STW) ownership decision making, using farm-level data collected from 324 households in Nepal. STW irrigation generated a significant positive effect on rice yield and farmers' incomes. Based on a probit model, the farm size, land fragmentation, access to electricity, and access to credit were found to significantly influence farmers' decisions to own STWs. Although the water market benefited poor farmers, it is too small and monopolistic. Policy reforms needed to make groundwater accessible to the poor majority include effective credit programs, investments in rural electrification, and public sector support for promoting suitable pumping technologies.

This study determines the relative effects of price, cattle quality, and feeding performance factors on profit per head for fed cattle marketed via a grid structure. Two different data sets of cattle that were marketed in two different grid pricing systems are used in the analysis with comparisons of results made between grids. Grid base price and feeder cattle price are the most important determinants of profit over time in both grids. However, considering only nonprice variables, the cumulative quality of cattle in a pen is also an important profit determinant.

This study uses location-specific data to investigate the role of spatially mediated peer effects in farmers’ adoption of conservation agriculture practices. The literature has shown that farmers trust other farmers and one way to increase conservation practice adoption is through identifying feasible conservation practices in neighboring fields. Estimating this effect can help improve our understanding of what influences the adoption and could play a role in improving federal and local conservation program design. The study finds that although spatial peer effects are important in the adoption of conservation tillage and diverse crop rotation, the scale of peer effects are not substantial.

Attitudes of Japanese consumers toward domestic and foreign varieties of rice were analyzed on the basis of a survey. We found that the current retail prices for imported rice are higher than the average consumers' willingness-to-pay (WTP), whereas most domestic rice was priced below the average WTP. Unfamiliarity or negative perceptions of the safety and flavor of foreign rice lowered WTP substantially. The WTP for U.S. rice was limited more by negative perceptions of flavor than from concerns about food safety.

Agricultural lending institutions are faced with a perpetual task of periodically evaluating personal and financial attributes of their borrowers. This examination is necessary in order to determine the present quality of the loans and to assess the current financial position of each borrower. Moreover, analysis of each borrower's financial performance establishes a basis for extending, limiting or withdrawing the present line of credit and for determining the amount and kind of supervision needed.

A “pricing to market” international trade model is applied to U.S. and Thai rice exports to high and middle income countries that are continuous rice importers. These markets are characterized by strong quality preferences and highly inelastic demand, and thus exporters may exercise market power. Evidence of noncompetitive pricing either through price discrimination across destinations or through imperfect exchange rate pass-through is found in this small but growing segment of the international rice trade.

Consumer behavior with respect to purchase regularity, satisfaction, origin, and willingness to pay for selected local versus non-Tennessee grown fresh produce is examined. Except for origin, consumer behavior with respect to the above is affected by income, household size and age distribution, race, age of respondent, college education, and occupation. The pattern of significant variables changed by commodity. Tomatoes, followed by peaches, had the greatest local market potential. Local promotion of other products may be more difficult. Results suggested consumers have no strong preferences for or against locally grown fresh produce. The prices of locally grown commodities in Knoxville should be less than or equal to those of comparable quality non-Tennessee commodities.

Wildlife recreation—hunting, fishing, and wildlife watching—appears to be an increasingly important pastime for many Americans. From 1991 to 2001, U.S. wildlife recreation expenditures surged from $77 billion to $108 billion in 2001 dollars. Land lease and ownership expenditures by wildlife recreation participants are also rising and appear to be capitalized into farmland values. This paper analyzes the impact of hunting lease rates on farmland values in Texas. The results indicate that counties with higher wildlife recreation income streams have higher land values.

This paper examines the effects of optional subdivision on APHP losses for wheat, corn, and soybeans. Thirty-seven state/crop programs are analyzed and the implications of the results are discussed in relation to newly developed crop and revenue insurance programs. The results illustrate the importance of incorporating actuarial experience into the premium rate structure and contract provisions of an insurance program.

Results indicate that, when comparing the unconditional derived-demand elasticities to the unconditional consumer demand elasticities, significant differences emerge due to the differences in the first-stage estimation procedure between the differential production approach and the Rotterdam model. In comparing the consumer demand price/cross-price elasticities to the derived-demand price/cross-price elasticities, it is clear that use of the Rotterdam model when a production approach should be used can lead to overestimation, underestimation, and incorrect signs in deriving unconditional price effects.

This study contributes to the literature by using a spillover index method to examine the changing interrelations in volatility among corn and energy future prices. This methodology allows us to account for endogenously determined economic fundamentals and market speculation. After controlling for market trends and seasonality, we find relative large increases in volatility spillovers between corn, crude oil, and ethanol futures prices. Our results suggest that the cross-commodity spillovers provide useful incremental information in determining future price volatility; however, a commodity's own dynamics explain the largest portion of volatility spillovers.