@article{Henty:284953,
      recid = {284953},
      author = {Henty, Sam and Griffith, Garry},
      title = {The Effect of Heat Stress on Milk Production and the  Profitability of Investing in a Permanent Shade Structure},
      journal = {AFBM Journal},
      address = {2017-12},
      number = {1672-2019-645},
      year = {2017},
      abstract = {This paper details an economic analysis of investment in a  permanent shade structure to minimise milk production  losses as a result of heat stress. Using data over a seven  year period from a northern Victorian dairy farm, the  analysis found that annual milk production loss, due to  heat stress, varied from 240 litres to 415 litres per cow  per year. This variation was due to the number and severity  of days that exceeded the Temperature Humidity Index  threshold. Three future climate scenarios were developed  for the next 20 years and these generated differing milk  production losses. Net present values from different  scenarios over the 20 year period showed that the level of  profitability of investing in a shade structure was  determined by the severity of temperatures experienced,  with more extreme heat events increasing the profitability  of the investment. The milk price received by the farmer  also determined the time it took for the investment to  become profitable. The minimum price required after 20  years to return a NPV of $0, ranged from of 35.7 to 24.6  cents per litre over the three climate scenarios.},
      url = {http://ageconsearch.umn.edu/record/284953},
      doi = {https://doi.org/10.22004/ag.econ.284953},
}