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

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  • Musser, Wesley N.
  • Shurley, W. D.
  • Williams, F. W.

Abstract

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.

Suggested Citation

  • Musser, Wesley N. & Shurley, W. D. & Williams, F. W., 1980. "An E-V Analysis of Beef Calf Backgrounding Systems in Georgia," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 12(2), pages 37-42, December.
    • Handle: RePEc:cup:jagaec:v:12:y:1980:i:02:p:37-42_01
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    References listed on IDEAS

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    1. Peter J. Barry & David R. Willmann, 1976. "A Risk-Programming Analysis of Forward Contracting with Credit Constraints," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 58(1), pages 62-70.
    2. Bryan Schurle & Bernard L. Erven, 1979. "Sensitivity of Efficient Frontiers Developed for Farm Enterprise Choice Decisions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(3), pages 506-511.
    3. Whitson, Robert E. & Barry, Peter J. & Lacewell, Ronald D., 1976. "Vertical Integration for Risk Management: An Application to a Cattle Ranch," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 8(2), pages 45-50, December.
    4. Raikes, Ronald & Sieck, Gail M. & Miller, Katherine S., 1978. "A Risk Programming Analysis of Cattle Procurement by Beef Packers," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 10(2), pages 43-48, December.
    5. Raikes, Ronald & Sieck, Gail M. & Miller, Katherine S., 1978. "A Risk Programming Analysis Of Cattle Procurement By Beef Packers," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 10(2), pages 1-6, December.
    6. Buccola, Steven T. & French, Ben C., 1977. "An E-V Analysis of Pricing Alternatives for Long-Term Marketing Contracts," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 9(2), pages 17-23, December.
    7. Miller, Katherine S. & Raikes, Ronald, 1978. "A Risk Processing Analysis of Cattle Procurement by Beef Packers," Working Papers 202898, University of Wisconsin-Madison, Department of Agricultural and Applied Economics, Food System Research Group.
    8. Kliebenstein, James B. & Scott, John T., 1975. "Assessment of Risk When Contract Crops are Included Among Other Crop Alternatives," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 7(2), pages 105-110, December.
    9. Lars Brink & Bruce McCarl, 1978. "The Tradeoff between Expected Return and Risk Among Cornbelt Farmers," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 60(2), pages 259-263.
    10. Kliebenstein, James B. & Scott, John T., Jr., 1975. "Assessment Of Risk When Contract Crops Are Included Among Other Crop Alternatives," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 7(2), pages 1-6, December.
    11. Buccola, Steven T. & French, Ben C., 1977. "An E-V Analysis Of Pricing Alternatives For Long-Term Marketing Contracts," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 9(2), pages 1-7, December.
    12. Whitson, Robert E. & Barry, Peter J. & Lacewell, Ronald D., 1976. "Vertical Integration Of Risk Management: An Application To A Cattle Ranch," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 8(2), pages 1-6, December.
    13. Persaud, Tillak & Mapp, Harry P., 1980. "Analysis Of Alternative Production And Marketing Strategies In Southwestern Oklahoma: A Motad Approach," Risk Analysis in Agriculture: Research and Educational Developments, January 16-18, 1980, Tucson, Arizona 271566, Regional Research Projects > W-149: An Economic Evaluation of Managing Market Risks in Agriculture.
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    Cited by:

    1. Ethridge, Don E. & Zhang, Ping & Dahl, Bill E. & Ervin, R. Terry & Rushemeza, Justin, 1990. "Cattle Ranching Production And Marketing Strategies Under Combined Price And Weather Risks," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 15(2), pages 1-11, December.
    2. Bobst, Barry W. & Grunewald, Orlen C. & Davis, Joe T., 1982. "Efficient Cash And Hedged Enterprise Combinations In Feeder Calf Backgrounding Operations," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 14(2), pages 1-6, December.

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