000018971 001__ 18971
000018971 005__ 20170824042106.0
000018971 037__ $$a1267-2016-101934
000018971 041__ $$aen
000018971 245__ $$aMANAGING DAIRY PROFIT RISK USING WEATHER DERIVATIVES
000018971 260__ $$c2003
000018971 269__ $$a2003
000018971 270__ $$mchen796@osu.edu$$pChen,   Gang
000018971 300__ $$a19
000018971 336__ $$aConference Paper/ Presentation
000018971 390__ $$aReplaced with revised version of paper 05/26/04.
000018971 446__ $$aEnglish
000018971 490__ $$a2003 Conference, St. Louis, Missouri, April 21-22
000018971 500__ $$aReplaced with revised version of paper 05/26/04.
000018971 520__ $$aWeather conditions are the primary dairy production risk. Hot and humid weather induces heat stress, which reduces both the quantity and quality of milk production. Traditional heat abatement technologies control the environment through ventilation, misting or evaporative cooling. Usually, they can increase the producers' expected profit, but cannot cover all the profit losses from heat stress. Weather derivatives could reduce weather-induced profit risk and thus act as a substitute for traditional abatement technologies in the aspect of risk management. We test the risk management value of weather derivatives in a utility maximization framework. The result is that weather derivatives offer an opportunity to improve the efficient portfolio frontier, and simultaneously using weather derivatives and abatement equipment is more favorable than using each of them alone.
000018971 650__ $$aRisk and Uncertainty
000018971 700__ $$aChen, Gang
000018971 700__ $$aRoberts, Matthew C.
000018971 700__ $$aThraen, Cameron S.
000018971 8564_ $$s226200$$uhttp://ageconsearch.umn.edu/record/18971/files/cp03ch01.pdf
000018971 887__ $$ahttp://purl.umn.edu/18971
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  Previous issue date: 2003
000018971 982__ $$gNCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management>2003 Conference, St. Louis, Missouri, April 21-22
000018971 980__ $$a1267