Jeffrey Hyde

The Economics of Bt Corn: Valuing Protection from the European Corn Borer

Corn that carries a gene from the natural soil bacterium Bacillus thuringiensis kurstaki, or Bt, has given farmers a potentially powerful tool to protect against European corn borer (ECB) damage. European corn borers are responsible for losses of

Dairy Farm Management and Long-Term Farm Financial Performance

1–

Use of a rolled-rye cover crop for weed suppression in no-till soybeans.

2 billion per year in the United States. This study analyzed the economic value of Bt corn under Indiana conditions. Results suggest that the value of the protection offered by Bt corn is generally lower than the current seed premiums in Indiana. The economic value of Bt corn may exceed the current premiums for farmers with higher-than-average yields or who have a 40% or greater probability of an ECB infestation.

Investing in Methane Digesters on Pennsylvania Dairy Farms: Implications of Scale Economies and Environmental Programs

The financial performance and relationships between several management factors and financial performance are examined in a panel of 107 New York dairy farms. A panel regression model with fixed effects is estimated in an effort to identify management factors that influence profitability. The model is estimated with two-stage least squares to account for endogenous farm size and debt use variables. Production management factors such as farm size, rate of milk production, and milking system had a positive impact on farm profitability. Financial management variables for the type of accounting system used and the debt use were also significantly related to profitability. Unlike the findings of many other studies, measures of human capital did not have a statistically significant impact on profitability.

A Real Options Analysis of Automatic Milking Systems

Abstract Cover crop management with a roller/crimper might reduce the need for herbicide. Weed suppression from a rolled cereal rye cover crop was compared to no cover crop with and without postemergence herbicide application in no-till soybean. The experiment was designed as a two-way factorial with rye termination and soybean planting date as the first factor and weed control treatment as the second. Cereal rye was drill-seeded in late September and managed using glyphosate followed by a roller/crimper in the spring. Soybean was no-till seeded after rolling and glyphosate was applied postemergence about 6 wk after planting to half the plots. Rye biomass doubled when delaying rye kill by 10 to 20 d. Weed density and biomass were reduced by the rye cover crop in all site–location combinations except one, but delaying rye kill and soybean planting date only reduced both weed density and biomass at a single location. The cover crop mulch provided weed control similar to the postemergence herbicide in two of four locations. Treatments did not affect soybean grain yield in 2007. In 2008, yield at Landisville with rye alone was equal to those yields receiving the postemergence herbicide, whereas at Rock Springs, it was equivalent or less. The net added cost of a rye cover crop was

U.S. wine consumer preferences for bottle characteristics, back label extrinsic cues and wine composition

123 ha−1 with or

Meeting the ‘multi-’ requirements in organic agriculture research: Successes, challenges and recommendations for multifunctional, multidisciplinary, participatory projects

68.50 ha−1 without a postemergence herbicide application. A rolled-rye cover crop sometimes provided acceptable weed control, but weed control alone did not justify the use of the cover crop. The potential for reduced herbicide use and other ecosystem services provided by a cover crop justify further refinement and research in this area. Nomenclature: Glyphosate; rye, Secale cereale L.; soybean, Glycine max L.

An economic analysis of non-Bt corn refuges

A stochastic capital budget was used to analyze the effect of net metering policies and carbon credits on profitability of anaerobic digesters on dairy farms in Pennsylvania. We analyzed three different farm sizes—500, 1, 000, and 2,000 cows—and considered the addition of a solids separator to the project. Results indicate that net metering policies and carbon credits increase the expected net present value (NPV) of digesters. Moreover, the addition of a solids separator further increases the mean NPV of the venture. In general, the technology is profitable only for very large farms (1, 000+ cows) that use the separated solids as bedding material.

Estimating Dynamic Relationships between Pork Advertising and Revenues

Automatic, or robotic, milking systems have the potential to significantly change the way milk is produced on U.S. dairy farms. However, there is a high degree of uncertainty associated with adoption of this new technology. A real options approach is used to analyze the decision to replace an operational milking system with an automatic milking system. The most important source of uncertainty is shown to be the length of the technologys useful life. Under our assumptions, the automatic system is always an optimal investment if it is certain that it will last longer than the operational system being replaced.

Usage rate segmentation: enriching the US wine market profile

Purpose – The purpose of this paper is to examine what factors and assortment of factors on wine back labels, representative of those found in the US market, appealed to consumers. Moreover, what changes to wine bottle characteristics and standard wine composition appealed and could affect their purchasing decision. Design/methodology/approach – Data were collected through an online survey of 910 wine consumers who resided in Metropolitan Philadelphia and New York City. Findings – Based on conjoint analysis, averaged importance for food-wine-pairing information on wine bottle back labels was greater than both how to contact and connect with the winery and winery background information. Within the pairing information factor, description of food-wine-pairings and symbols of food-wine-pairings received positive utility values, indicating consumers preferred these options more than having no pairing information present. Consumers who purchased wine at least once a week were more positively impacted by the alt...