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On the Inclusion of Hay in Ontario's Gross Revenue Insurance plan: A Target Semivariance Approach

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  • Catherine Skelton
  • Calum G. Turvey

Abstract

This article examines the effects of including or excluding hay under Canada's new Gross Revenue Insurance Plan on optimal beef input (feed ration) and output decisions. Using a representative target-semivariance model of a medium-sized Ontario feedlot, it is shown that inclusion of hay as a program crop would have little effect on either choice of feed ration or beef production. In fact, since greater price protection/benefits accrue to program crops such as corn, corn silage, and soybeans, plantings of these crops crowd out both the growing of hay and the use of hay-based feed rations.

Suggested Citation

  • Catherine Skelton & Calum G. Turvey, 1994. "On the Inclusion of Hay in Ontario's Gross Revenue Insurance plan: A Target Semivariance Approach," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 16(2), pages 321-331.
    • Handle: RePEc:oup:revage:v:16:y:1994:i:2:p:321-331.
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    File URL: http://hdl.handle.net/10.2307/1349472
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    Cited by:

    1. Turvey, Calum G. & Nayak, Govindaray, 2003. "The Semivariance-Minimizing Hedge Ratio," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 28(1), pages 1-16, April.
    2. Lee, Sang-Hak & Yang, Seung-Ryong, 2000. "The Minimum Semi-Variance Hedge For Food Manufacturers In Korea," 2000 Annual meeting, July 30-August 2, Tampa, FL 21867, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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