Arlo W. Biere

Live Cattle Futures Response to Cattle on Feed Reports

Knight-Ridder surveys provide prerelease expectations of the information in the Cattle on Feed reports. The Knight-Ridder information is employed here, in accordance with the efficient markets hypothesis, to identify the unanticipated information provided in Cattle on Feed reports. Rational expectations theory is used to test Knight-Ridder forecasts for unbiasedness, efficiency, and forecast performance. The forecasts mostly satisfy rationality conditions. Live cattle futures prices respond to unanticipated information about placements and marketings contained in Cattle on Feed releases. However, report information is absorbed quickly.

Irrigation in the Great Plains

Abstract Irrigation scheduling answers the question of when to irrigate and how much. The techniques used for scheduling include the monitoring of soil moisture, physiological indicators and water balance models. The areas of major concern are: (a) a soil moisture sensor which is inexpensive, rapid and accurate; (b) a means of assessing the upper and lower limits of soil water content in the changing root zone; (c) development of a rapid technique for estimating leaf area; and (d) a means of measuring canopy transpiration. A major research thrust that can be identified is the separation of evaporation from the soil surface and transpiration by the canopy. As one manipulates the canopy geometry to assess the cultural practices and irrigation systems, the need to clearly identify the contribution of evaporation and transpiration becomes increasingly important. The objective for irrigation for the farmer is to maximize his net returns. There are three components of an economic model for determining that decision: (a) a water balance; (b) a growth response function; and (c) an economic optimization function. A few of the problem areas in such a scheme are: (a) adaptation by the plant to water stress; (b) dynamics of the root system; (c) interaction between fertility and water; and (d) risk analysis.

DOES UNDERGRADUATE MAJOR MATTER? DIFFERENCES IN SALARIES AND SATISFACTION LEVELS OF AGRIBUSINESS AND AGRICULTURAL ECONOMICS MAJORS AT KANSAS STATE UNIVERSITY

This research compares and contrasts the college and career experiences of graduates of the Agribusiness and Agricultural Economics undergraduate degree programs at Kansas State University. Using survey data, salary models were estimated for both majors. Starting salaries were not statistically different across majors, whereas current salaries were significantly higher for Agricultural Economics graduates. Alumni of both majors were found to be mobile and enjoy a high degree of satisfaction with their college and career experiences. Agribusiness majors were more likely to supervise employees and be more satisfied with working conditions than Agricultural Economics graduates.

Undergraduate Program Revision at Kansas State University

This article reports the Kansas State experience in extensive revision of its undergraduate educational program. Revision was based on student, faculty, alumni, and employer participation. The new curriculum gives new emphasis to behavioral sciences and analytical techniques which better prepare students for agribusiness jobs.

A Model for Managing Reservoir Water Releases

Two surface reservoirs in Californias Salinas Basin are used to increase recharge of valley aquifers. Under the assumptions of zero price elasticity of demand for groundwater, unregulated groundwater withdrawals, and the objective of economic efficiency, the management criterion is to maximize the present value of expected aquifer recharge where the value of a unit of recharge is the associated reduction in pumping costs. A cyclical Markov dynamic programming management model is developed; optimal strategies are obtained. Results indicate the optimal strategy is relatively stable within the realistic range of alternative groundwater demand growth rates. The marginal value function for reservoir capacity is obtained by parametric analysis.

Dynamic irrigation scheduling with stochastic rainfall

Abstract The dynamic irrigation scheduling problem with stochastic weather data was investigated by using the Markov process and dynamic programming. Several stochastic optimization models of different complexity were formulated. A simple one-stage or one-day decision model was also formulated, based on certain simplifying assumptions. This simple model not only considers the daily fluctuations of the price of the crop and the cost of irrigation, it also requires much less memory and thus can be implemented in a small personal computer. Numerical examples based on actual data were solved to illustrate the approach.

A Management Information System for Local Governments

We find two reasons to develop an improved management information system for local governments. One is the apparent inability of current local government management information systems to warn of imminent financial collapse or to indicate the degree of financial weakness of a local government. Another reason is the need for information that will promote the most efficient use of resources in providing public services. During the 1970s certain local governments were unable to meet their obligations. Their current obligations exceeded current revenues. The nation was made aware of the crisis when New York City defaulted on some of its loan obligations and sought federal assistance. Other local governments have faced similar crises. Cleveland, Ohio, was in default for a short period during 1978 until it sold some of its assets (urban land and an electric power generating plant) to obtain cash and reduced its programs to reduce current outlays. The crises in those large cities have brought national attention to the financial problems of many local governments—urban and rural, large and small.

Marketing identity preserved grain products: The case of American White Wheat Producers Association

Increasing demand for identity preserved grains in the production of new food and nonfood products may stimulate a parallel development of new marketing channels. Observations of strategic issues that must be addressed by firms seeking to market identity preserved grains were obtained from studying the development of the American White Wheat Producers Association. Potential backward integration by marketing firms and forward integration by farmers presents each group with new risks and uncertainties. For any single firm, barriers to entry will be a crucial component of the profitability of identity preserved grain marketing.

Experiences with microcomputer applications in agricultural economics

Abstract Microcomputers are finding application in a variety of forms in Colleges of Agriculture instruction programs. This paper reports on the experiences of faculty in developing and teaching an undergraduate computer applications course in Agricultural Economics. Students perceptions of the usefulness of computer applications for selected career categories are reported as well. This includes their observation concerning the use of several commercial software packages.