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Alfalfa Hay Quality and Alternative Pricing Systems

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  • Hopper, Jared A.
  • Peterson, Hikaru Hanawa
  • Burton, Robert O., Jr.

Abstract

Price-quality relationships for alfalfa hay were analyzed by hedonic pricing models using 1996-2001 Wisconsin auction data. Individual nutrients included in the analysis all affected alfalfa price, with acid detergent fiber accounting for the largest impact. Alternative pricing models, based on an aggregate quality index or detailed quality information, were similar in their ability to predict price. However, disaggregating price predictions to account for differences in relative feed value (RFV) and crude protein (CP) indicate that both RFV and CP are important determinants of price and that aggregating the two into a quality index is not warranted.

Suggested Citation

  • Hopper, Jared A. & Peterson, Hikaru Hanawa & Burton, Robert O., Jr., 2004. "Alfalfa Hay Quality and Alternative Pricing Systems," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 36(3), pages 1-16, December.
    • Handle: RePEc:ags:joaaec:43462
    DOI: 10.22004/ag.econ.43462
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    References listed on IDEAS

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    1. Blank, Steven C. & Orloff, Steve B. & Putnam, Daniel H., 2001. "Sequential Stochastic Production Decisions For A Perennial Crop: The Yield/Quality Tradeoff For Alfalfa Hay," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 26(1), pages 1-17, July.
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    5. Grisley, William & Stefanou, Spiro E. & Dickerson, Ted, . "Factors Affecting The Price Of Hay At A Pennsylvania Auction," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 14(1), pages 1-9.
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    Cited by:

    1. Curtis, Kynda R. & Cowee, Margaret W. & Kim, Man-Keun & Harris, Thomas R., 2010. "Evaluating Returns to Cool Season Grass Quality Characteristics for Niche Equine Feed Markets," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 28(1), pages 1-18.
    2. Boyer, Christopher N. & Griffith, Andrew P. & Roberts, Roland K. & Savoy, Hubert J. & Leib, Brian G., 2014. "Managing Nitrate Levels in Bermudagrass Hay: Implications for Net Returns," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2014, pages 1-16.
    3. Boyer, Christopher N. & Griffith, Andrew P. & Roberts, Roland K. & Savoy, Hubert J. & Leib, Brian G., 2013. "Nitrate Toxicity in Bermudagrass Hay and Its Effect on Net Returns," 2013 Annual Meeting, February 2-5, 2013, Orlando, Florida 142716, Southern Agricultural Economics Association.
    4. Diersen, Matthew A., 2008. "Hay Price Forecasts at the State Level," 2008 Conference, April 21-22, 2008, St. Louis, Missouri 37600, NCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.

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