Year: 2001
Type: article
Abstract: The financial risks of a group of New York dairy producers were measured from 1988 through 1997 and were decomposed by source of risk by two procedures. Decomposition of the variance suggested major contributors to variability in returns to New York dairy farms were variabilities in purchased feed quantities and milk production; milk price variability contributed substantially less. Similarly, decomposing the Gini measure of income dispersion indicated that milk revenues and purchased feed expenditures contributed most to farm return inequality over time. Controlling feed costs and maintaining high and stable milk production appear to be the principal approaches that dairy producers can use to control their financial risks.
Source: Journal of Dairy Science
Authors: T.M. Schmit, R.N. Boisvert, L.W. Tauer
Institution: Cornell University
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
SDG: Zero hunger
Open Access status: bronze
OpenAlex ID: W2078836679