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A Simulation Analysis of a Reserve Stock Management Policy for Feed Grains and Wheat

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  • Ray, Daryll E.
  • Richardson, James W.
  • Collins, Glenn S.

Abstract

During the last three years agriculture has exhibited characteristics that parallel those of a manic depressive. The livestock sector was flying high during 1973 and in the depths of despair in 1974. The crop sector was elevated from two decades of despondent but stable economic health to a state of price elation in 1973 and 1974. Over the last couple of years consumers, who enjoyed excellent food budget health for years, have slipped into a state of belligerent depression. Each group views the future with anxious dismay. Livestock producers fear that the feed prices will remain high, crop producers fear they will not. Neither livestock nor crop producers have a sound basis for making short or longer term production plans.

Suggested Citation

  • Ray, Daryll E. & Richardson, James W. & Collins, Glenn S., 1975. "A Simulation Analysis of a Reserve Stock Management Policy for Feed Grains and Wheat," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 7(1), pages 81-87, July.
    • Handle: RePEc:cup:jagaec:v:7:y:1975:i:01:p:81-87_01
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    References listed on IDEAS

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    1. Luther Tweeten & James Plaxico, 1974. "U. S. Policies for Food and Agriculture in an Unstable World," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 56(2), pages 364-371.
    2. Meinken, Kenneth W., 1955. "The Demand and Price Structure for Wheat," Technical Bulletins 157127, United States Department of Agriculture, Economic Research Service.
    3. James P. Houck, 1974. "Some Economic Aspects of Agricultural Regulation and Stabilization," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 56(5), pages 1113-1124.
    4. Mayer, Leo V., 1974. "Experiences With Recent Price Stabilization Programs For Agriculture," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 6(1), pages 1-5, July.
    5. Mayer, Leo V., 1974. "Experiences with Recent Price Stabilization Programs for Agriculture," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 6(1), pages 1-5, July.
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    Cited by:

    1. Sharples, Jerry A. & Walker, Rodney L. & Slaughter, Rudie W., Jr., 1976. "Managing Buffer Stocks to Stabilize Wheat Prices," Agricultural Economic Reports 307586, United States Department of Agriculture, Economic Research Service.

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