A Stochastic Dominance Analysis of Contract Grazing Feeder Cattle

Basis Variability on the Feeder Cattle Contract Versus the Failed Stocker Contract

producers to hedge feeder cattle and stocker cattle. Feeder cattle prices, and hence basis, varies with cattle type, lot characteristics and location. Producers need to consider these factors when estimating their basis. However, there still remains variability in prices due to volume, or more likely lack of volume, in a particular weight class or in some cases for an entire market. The volume ...

Decision criteria in risk analysis : an application of stochastic dominance with respect to a function

Stocker Cattle Ownership vs. Contract Grazing: a Comparison of Risk-Adjusted Returns

Stocker cattle ownership is compared to contract grazing using stochastic simulation. Returns are evaluated for both cattle owners and caretakers in contract grazing agreements. For caretakers, contract grazing is significantly less risky than cattle ownership. For cattle owners, contracting reduces risk only slightly while significantly reducing expected returns. The authors are Assistant Exte...

Comparisons of Cattle Grazing and Sheep Grazing

Controversy has surrounded the possible differences in pasture production which result from grazing by cattle or sheep. Experiments conducted over the 1972-76 period show that pasture production under grazing by sheep is greater than under grazing by cattle under similar intensive managements. A change from sheep grazing to cattle grazing can cause a rapid deterioration in pasture production, w...

Stochastic Dominance Analysis of Australian Income Distributions

We apply stochastic dominance tests to investigate trends in inequality in Australia over the period 1983 to 1998. Results show significant levels of inequalities in the income and expenditure distributions for the population as a whole as well as within population groups. We further find that the impact of the government’s tax and transfer redistribution scheme varied greatly among the differe...