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Title: The Effects of Weather and Output Price Risk on the Economic Returns of Backgrounding Feeding Cattle
Authors: Harrison, R. Wes
Keywords: Feeder cattle
Weather risk
Price risk
Stochastic dominance
Issue Date: 1997
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 indicated that slightly risk averse backgrounders prefer both winter and summer baskgrounding but summer backgrounding is preferred by strongly risk averse decision makers.
Identifiers: 0738-8950
Institution/Association: Journal of Agribusiness>Volume 15, Number 2, Fall 1997
Total Pages: 16
From Page: 199
To Page: 214
Collections:Volume 15, Number 2, Fall 1997

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