Volume 15, Number 2, Fall 1997

Abstracts


The Pleasures and Pitfalls of Interdisciplinary Research in Agriculture

Patricia A. Duffy, Elizabeth A. Guertal and Russell B. Muntifering

Abstract: Increasingly, interdisciplinary research is being touted as a way to solve real-life problems of interest to the taxpayers who support research at public universities. The purpose of this paper is to examine the benefits of interdisciplinary agricultural research involving economists and natural scientists, to discuss problems associated with carrying out this type of work and to offer some suggestions on how such research can be facilitated Mutual trust and ongoing relationships can lead to better timing of collaboration and more satisfaction for all parties. Open communications are also important for success in collaboration. Within the broader university environment, it is important for tenure and promotion committees to be able to properly evaluate interdisciplinary work; otherwise, faculty will not be properly rewarded for these efforts.

Key Words and Phrases: Interdisciplinary research, agriculture, economics.



Research, Technology and Farm Structure

Susan E. Offutt

Abstract: Public debate about the relationships among research, technology, and farm size is often fueled by a particular hypothesis, that public sector research supports the development of scale-biased technologies that lead to fewer and larger farms. The evidence suggests that it is the private sector that has dominated the development of scaled-biased, mainly mechanical farm technologies and that the public sector has concentrated on biological innovations, more likely to be scale neutral. Moreover, powerful macroeconomic and social forces, not simply the availability of new technologies, have driven change in the number and size distribution of American farms. The complexity of the determinants of farm structure make it unlikely that public research can guarantee the development of technologies that, by themselves, result in the preservation of small farms.

Key Words and Phrases: research, technology, farm size.



In the Land of Milk and Money: One Dairy Farm's Strategic Compensation System

Mary E. Graham, Rick Welsh and George Mueller

Abstract: Farm businesses need to attract, retain and motivate valuable workers, and meet productivity and quality goals in order to achieve their strategic objectives. Willow Bend Farm, a dairy operation run by the Mueller family in upstate New York, created and implemented a strategic compensation system to help achieve farm growth over its nearly forty-year history. This paper is a case study of Willow Bend's total compensation system from 1957-1996, during which time the farm experienced tremendous growth. The owners of Willow Bend Farm implemented an array of compensation programs over this time period, including a unique worker cow-ownership program that, by design, increases workers' initial investments as new calves are born, Other incentives target key behaviors necessary to farm success.

Key Words and Phrases: Compensation, human resource management, dairyfarms.



Cost/Benefit Analysis of Bur Extractors in Cotton Harvesting

Blake K. Bennett, Sukant K. Misra and Alan Brashears

Abstract: The objective of this research was to estimate the effect of using bur extractors in cotton stripping on foreign material in harvested cotton, on both quality attributes and lint turnout, and to determine the minimum harvested acres a producer must have for a bur extractor to be cost effective. Results indicate that the bur extractor has a significant effect in reducing bur percent, stick percent, and in increasing seed cotton percent and lint turnout, while it showed no statistically significant effect on any of the quality attributes. Results also suggest that investment in bur extractors is profitable for both irrigated and dryland cotton production situations with an operation of at least 750 acres. This study provides a simple method that can be employed by producers of stripper-harvested cotton to determine the cost effectiveness of a bur extractor given individualized production scenarios.

Key Words and Phrases: Stripper harvesting, bur extractors, cotton, cost-benefit analysis.



The Effects of Weather and Output Price Risk on the Economic Returns of Backgrounding Feeder Cattle

R. Wes Harrison

Abstract: Stochastic simulation is used to analyze the effects of weather and output price risks on feeder cattle backgrounding systems common to the mid-south region of the United States. The results show that backgrounding systems beginning in the fall and ending from April to late August are associated with higher expected returns relative to summer backgrounding. However, winter backgrounding is associated with greater overall risk relative to summer backgrounding. Stochastic dominance analysis indicates that slightly risk averse backgrounders prefer both winter and summer backgrounding, but summer backgrounding is preferred by strongly risk averse decision makers.

Key Words and Phrases: Feeder cattle, weather risk, price risk, stochastic dominance.



Analysis of Expected Price Dynamics Between Fluid Milk Futures Contracts and Cash Prices for Fluid Milk

T. Randall Fortenbery, Robert A. Cropp and Hector 0. Zapata

Abstract: Futures contracts for fluid milk began trading in late 1995 and early 1996. This paper investigates the potential use of fluidmilk futures contracts as hedge vehicles for dairy producers in the Upper Midwest and California markets. This is done by developing simulated futures prices for the period 1988 to 1995. The simulated futures prices are used to estimate basis relationships between cash and futures prices for the markets considered. Results suggest that the fluid milk futures contracts could be used to reduce market price risk for producers in the Upper Midwest. Results were less conclusive for California producers.

Key Words and Phrases: Fluid milk futures, contracts, basis, dairy markets.



United States, Latin America and the Global Economy: The Vision of Greater America

L. Ronald Scheman

Abstract: Latin America is the most important partner of the United States in consolidating the base of democracy and open markets in the global context as well as providing resources, markets and energy security for a growing economic base. The backbone of the global economy, the productive capacity deriving from the great combination of the treasures of the Rockies and Andes, together with U.S. technology, will be the bedrock foundationfor unassailable economic growth. Together a combined open market of more than 600 million people will enable the coming generation to see Greater America emerge as a major force defining the values of the coming century.

Key Words and Phrases: Greater America, international trade, Latin America.



The Land Grant College: Repositioning to Meet the Needs of a Rapidly Changing Food, Agriculture and Natural Resource System

Robert L. Thompson

Abstract: The land grant college of food, agriculture and natural resources constitutes a major historical innovation. Land grant colleges need to continue to do cutting edge science and education as well as maintain the outreach function to maintain state appropriations. Moreover, fund raising is going to have to be broader than it historically has been.

Key Words and Phrases: Land grant college, education, cooperative extension service, teaching, research.



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