Catfish Producer Harvest Response to Production and Asymmetric Price Risk

A theoretical non-risk model was hypothesized to Harvest response to production and asymmetric explain the monthly harvest of food-size catfish. price risk was analyzed using an ordinary least After initial estimation, risk variables were incorposquares model. Statistically significant responses to rated into the model to account for production, input production-quality and output price risk were indiprice, and output price risk. Individual risk variables cated. Results suggest that alternative pricing straterather than an aggregate risk variable (i.e. deviations gies designed to rece ris a t in returns or profits) were used so that specific response and decrease month to month harvest variinfluences of risk could be isolated. ability. A brief description of the catfish industry is followed by a description of the hypothesized harvest