James D. Libbin

Potential of Kochia prostrata and Perennial Grasses for Rangeland Restoration in Jordan

Abstract Six varieties of forage kochia (Kochia prostrata [L.] Schrad.), two Atriplex shrubs native to North America, and four drought-tolerant perennial grass varieties were seeded and evaluated under arid rangeland conditions in Jordan. Varieties were seeded in December 2007 and evaluated in 2008 and 2009 at two sites. Conditions were dry with Qurain receiving 110 mm and 73 mm and Tal Rimah receiving 58 mm and 43 mm of annual precipitation during the winters of 2007/2008 and 2008/2009, respectively. Plants were more abundant and taller (P < 0.001) at Qurain than Tal Rimah in 2008. Forage kochia frequency was 48% and 30% in 2008 at Qurain and Tal Rimah, respectively. However, no seeded plants were observed at Tal Rimah in 2009, suggesting that 58 mm and 43 mm of annual precipitation are insufficient to allow plants to persist over multiple years. At the wetter site, forage kochia abundance in 2009 was similar (P  =  0.90) to that observed in 2008 and plant height increased (P < 0.001) from 2008 (14.4 cm ± 1.1 SE) to 2009 (38.4 cm ± 1.1 SE). Sahro-select and Otavny-select were the most abundant forage kochia varieties (P < 0.05), suggesting that these experimental lines could be more adapted to the environmental conditions of Jordan than the commercially available cultivar Immigrant. Frequency of perennial grass varieties declined (P < 0.001) at Qurain from 82% ± 4 SE to 39% ± 4 SE between 2008 and 2009, respectively. Among grasses, Siberian wheatgrass had better stands than crested wheatgrass, with Russian wildrye being intermediate. Based on this study, forage kochia appears to have great potential for establishing palatable perennial shrubs in arid rangeland conditions in Jordan if annual precipitation is at least 70 mm. Arid-adapted perennial grass varieties might also be useful in rangeland restoration if annual precipitation is over 100 mm.

A sporting alternative.

Sport cattle may help cattle growers round up their profits. DOI:10.2458/azu_rangelands_v28i6_hawkes

Feature ArticlesA Sporting Alternative: Sport cattle may help cattle growers round up their profits.

Sport cattle may help cattle growers round up their profits. DOI:10.2458/azu_rangelands_v28i6_hawkes

A Sporting Alternative: Sport cattle may help cattle growers round up their profits.

Sport cattle may help cattle growers round up their profits. DOI:10.2458/azu_rangelands_v28i6_hawkes

Can Ranch Owners Include the Ranch in an Investment Portfolio

roduction agriculture is a capital-intensive venture that bears many elements of uncertainty. Producers must tolerate a substantial amount of risk and combat many challenges within their preferred livelihood. Many ranchers are constrained by limited income and free cash flow, although some have built equity with the appreciation of land values. Land is an inflation hedge and builds wealth over the lifetime of the landowner. However, that wealth accumulation cannot be spent without selling the land itself. Some successful producers, especially those who inherit land or otherwise do not have to repay land notes, may expand their operations or consider strategies to diversify and protect their interests and lifestyle. If ranchers are able to generate investable funds, what options exist for them? Historically, agricultural producers have not considered diversification in the same manner as a typical financial investor. Diversification may be defined as spreading risk among many assets to offset changes in markets that will not likely react similarly to economic or financial news and phenomena (Brigham and Ehrhardt 2002). Ranchers often look at diversification as changing their calf retention system, rotational system, livestock breeds, or even purchasing another ranch several miles away for geographic diversification. None of these actions fits the definition of diversification from a purely financial perspective; some may even increase risk. Producers are still subject to the same uncontrollable market forces and weather conditions if they expand within the same class of livestock or within the same general geographic area. Expanding geographically may spread fixed costs over more acres or sections and generate larger gross returns. However, expanding may lead to inefficiencies in labor and managerial resources, increase mileage on equipment, and ultimately increase fixed costs. Expansion may increase rather than reduce risk. So how should a rancher truly diversify? Ranches can be thought of as assets within an overall portfolio; ranchers should also give attention to the concept of diversification in their operations and consider diversification approaches beyond the ranching enterprise itself. This paper will not propose that producers sell the ranch and invest the proceeds entirely in the stock market or any other investment market. Rather, ranchers should consider opportunities to increase overall portfolio value by investing a portion of operating profit in financial assets (such as corporate stocks or mutual funds) to diversify. Diversifying in this manner may provide a ranch owner/investor with greater returns on investment opposed to production agriculture alone. This might allow a rancher to continue with his or her chosen lifestyle in the agricultural environment and to maintain control of the primary real asset, which is the ranch.