Contract and Exit Decisions in Finisher Hog Production
نویسندگان
چکیده
منابع مشابه
Contract Hog Production: A Case Study of Financial Arrangements
Contract production in the hog industry has increased substantially in recent years to reach 53.4 percent of hog production in 2001 (Economic Research Service, U.S. Department of Agriculture). Among other industry classes, only poultry and egg production, at 81.3 percent, exceed this level. The drivers of this major structural change include consumer preferences, institutional change in the foo...
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The increasing use of production contracts in the hog sector has reduced the number of spot market transactions and raised concerns about price manipulation by packers. These concerns have helped spur legislative efforts to restrict packer ownership of livestock and to regulate livestock contracts. Using panel data from the 2002 and 2007 Census of Agriculture, this study looks for evidence that...
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M firms in capital-intensive industries face inherent demand volatility for their products and the inability to change their capacity quickly. To cope with these challenges, manufacturers often enter into contracts with their customers that offer greater certainty of supply in return for more predictable orders. In this paper, we study a “forecast-commitment” contract in which the customer prov...
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The paper assesses the usefulness of selective hedging strategies when combined with forecast techniques in the live hog contract. The use of routine futures and options hedging is not attractive relative to a cash-only strategy. However, forecasting and hedging can contribute to price risk management improvement for risk-averse producers. Consistent with previous research, the results indicate...
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Background and objective Intensive livestock farming in Germany is characterized by two facts. First, the production seems hardly to respond to the considerable price changes that occurred during the past decades. Second, the spatial allocation of production is rather unequal, though no special natural conditions are required for this business. Such an unequal distribution is not desired by agr...
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ژورنال
عنوان ژورنال: American Journal of Agricultural Economics
سال: 2010
ISSN: 0002-9092,1467-8276
DOI: 10.1093/ajae/aap041