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Economic Incentives for PST Adoption by Midwest Hog Producers

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Listed:
  • Richardson, James W.
  • Anderson, David P.
  • Peel, Derrell S.
  • Phillips, Mike

Abstract

A whole-farm simulation model is used to analyze the impacts of PST adoption on representative farms in Missouri and Indiana. Farmers who do not adopt experience lower average annual net cash farm incomes than adopters. Lower feed prices and/or an average PST/feed response decrease the incentive to adopt. Payment of a 5 percent carcass merit premium (CMP) and/or higher grain prices greatly increase the economic incentive to adopt.

Suggested Citation

  • Richardson, James W. & Anderson, David P. & Peel, Derrell S. & Phillips, Mike, 1993. "Economic Incentives for PST Adoption by Midwest Hog Producers," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 25(2), pages 95-105, December.
    • Handle: RePEc:cup:jagaec:v:25:y:1993:i:02:p:95-105_01
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    References listed on IDEAS

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    1. A. N. Halter & G. W. Dean, 1965. "Use of Simulation in Evaluating Management Policies under Uncertainty: Application to a Large Scale Ranch," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 47(3), pages 557-573.
    2. Catharine M. Lemieux & James W. Richardson, 1989. "Economic Impacts of Porcine Somatotropin on Midwest Hog Producers," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 11(2), pages 171-181.
    3. Lins, David A., 1969. "An Empirical Comparison of Simulation and Recursive Linear Programming Firm Growth Models," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 21(1), pages 1-6, January.
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