Progress 07/01/00 to 06/30/06
Outputs
The objective of this research project is to provide practical and pertinent information that contributes to a more stable and efficient livestock industry in Mississippi. This includes identifying management practices and resource requirements associated with profitable and environmentally responsible livestock (beef cattle and hogs) and poultry production systems. The primary research focus this year has been on stocker management. Many growing cattle graze ryegrass pastures in South Mississippi before they are shipped for fattening in western feedlots. The profitability of grazing ryegrass is greatly affected by stocking rate and supplemental feed costs. As stocking rates increase per animal pasture costs decrease. However, at higher stocking rates, feed costs may also increase. Because most producers remove animals from pasture when grazing is inadequate due to adverse weather effects, they try to set their initial stocking rate to minimize the amount of time that
cattle are off pasture to minimize the amount of supplemental feed necessary. The overall objective of this study was to determine if selected supplementation strategies could improve profitability of grazing cattle, whether the farmer owned the cattle or not.
Impacts
The research suggests that there is potential to increase returns to management of beef cattle operations through supplemental feeding of stockers on ryegrass. Performance data suggest that there is no significant difference in gains among the stocker grazing/feeding scenarios studied. The consistency of animal gains that result from supplemental feeding appears to offset the associated additional costs.
Publications
- Romano, C.L., T.J. Engelken, and R.D. Little. Preconditioning: An Economic Model. Research Paper presented at the Annual Conference of the Southwestern Economics Association, April 12-15, 2006, San Antonio, Texas.
- Shumaker, J.R., D.K. Hardin, D.E. Hostetler, and R.D. Little. Economic Comparison of Drenching Fresh Dairy Cows Versus Pre-partum Testing of Non-esterified Fatty Acids to Reduce Production Losses Associated with Post-partum Disorders. Research Paper presented at the Annual Conference of the Southwestern Economics Association, April 12-15, 2006, San Antonio, Texas.
|
Progress 01/01/05 to 12/31/05
Outputs
The objective of this research project is to provide practical and pertinent information that contributes to a more stable and efficient livestock industry in Mississippi. This includes identifying management practices and resource requirements associated with profitable and environmentally responsible livestock (beef cattle and hogs) and poultry production systems. Work continues with animal scientists and food animal veterinarians to use data generated in their physical studies in economic analyses of alternative cattle management practices. The primary research focus this year has been on preconditioning programs. Preconditioning programs have been recommended in beef cattle production systems to reduce disease-associated losses and improve production during the feeding period. However, producers have been slow to adopt these programs because they may not receive sufficient returns. To the cow-calf producer, the losses associated with preconditioning include
increases in labor, supplies, equipment, feed, and death losses. Increases in return are associated with castration, dehorning, uniformity, and possibly weight. The cow may also affect the economic viability of preconditioning calves due to increases in weight gain. The cattle feeder may experience increased profits resulting from decreases in losses associated with morbidity and mortality and increases in carcass qualities. A model has been designed to assess the economic viability of preconditioning for both the cow-calf producer and cattle feeders and determine the impact of the various costs and returns associated with preconditioning. Special attention is paid to preconditioning economics and the potential impact of improved cow body condition score on overall herd productivity. Research on dairy cow veterinary management has also been in process. Dairy cattle are more susceptible to metabolic disorders in the days and weeks after calving, due to the stress of parturition and the
demands of lactation. Though the incidence of post-partum disorders varies, research has established a monetary estimate of production losses for milk fever, displaced abomasums, retained placenta, and ketosis. Drenching fresh cows with gluconeogenic precursors and calcium supplements is common preventive practice on some dairies. However, research has shown that this practice has little to no impact on reducing production losses associated with post-partum disorders. Measuring non-esterified fatty acids (NEFA) is a method to determine pre-partum energy balance. Cows that are in negative energy balance in the dry period are more susceptible to post-partum disorders especially ketosis and displaced abomasums. Evaluating NEFA is a way to determine if cows are at greater risk for post-partum disorders and if nutritional or management changes need to be made. The objective of this research is to determine the economic relationship between levels of disease prevalence and the response to
either treatment or management intervention. Preliminary research suggests that NEFA testing and management intervention to be more economically feasible than treating all cows as prevalence rates in the herd increase.
Impacts
The research suggests that there is potential to increase returns to management of beef cattle operations through preconditioning. Because there are gains possible for both cow-calf operations and cattle feeders, the importance of reducing transaction costs through improved communication is highlighted. Cow-calf operators are typically not compensated for implementing preconditioning programs. Hence they are reluctant to perform that production practice. However, performance data suggest that preconditioned calves warrant a price premium, relative to calves that were not preconditioned.
Publications
- No publications reported this period
|
Progress 01/01/04 to 12/30/04
Outputs
The objective of this research project is to provide practical and pertinent information that contributes to a more stable and efficient livestock industry in Mississippi. This includes identifying management practices and resource requirements associated with profitable and environmentally responsible livestock (beef cattle and hogs) and poultry production systems. Work continues with animal scientists and food animal veterinarians to use data generated in their physical studies in economic analyses of alternative cattle management practices.
Impacts
Research was conducted to determine the economic potential of selecting bulls with increased genetic potential. A net present value approach was used to determine the present value of the additional earnings, based on improved weaning weights, of a superior bull, compared to an average, status quo bull. It would take a producer investing an additional $1,500 in a superior herd bull (above the $800 for an average bull) about three years to recover that additional investment, assuming the superior bull increased average weaning weight by 50 pounds. Alternatively, it would take marketing 67 offspring from that bull to recover that additional investment. Given the assumptions used in this study, producers can potentially increase net income by purchasing superior bulls, compared to average bulls. However, producers should be aware that changes in calf price relationships, input costs, bull performance, the number of cows per bull, and bull longevity could alter the
findings of this study.
Publications
- Anderson, John D. Curt Lacy, Charlie S. Forrest, and Randall D. Little. "Expected Utility Analysis of Stocker Cattle Ownership Versus Contract Grazing in the Southeast." Journal of Agricultural and Applied Economics. 2004. 36(3):719-730.
- Engelken, Terry, Randy Little, and R. Curt Lacy. "Cattle Producer Attitudes Towards Alternative Production and Marketing Practices." Proceedings of the 2004 Central Veterinary Conference. Kansas City, Missouri.
- Little, Randall D., R.Curt Lacy, and John D. Anderson. "Boosting Output by Purchasing Superior Sires." Research Paper presented at the 2004 Annual Meeting of the Western Economics Association. Vancouver, B.C. June 30 - July 3, 2004.
- Reeves, D. Daphne, Robert W. Wills, Randall D. Little, and John D. Anderson. "Financial Impacts of PRRS Intervention and Prevention Strategies." Research Paper presented at the 2004 Annual Meeting of the Western Economics Association. Vancouver, B.C. June 30 - July 3, 2004.
|
Progress 01/01/03 to 12/31/03
Outputs
The objective of this research project is to provide practical and pertinent information that contributes to a more stable and efficient livestock industry in Mississippi. This includes identifying management practices and resource requirements associated with profitable and environmentally responsible livestock (beef cattle and hogs) and poultry production systems. Work continues with animal scientists and food animal veterinarians to use data generated in their physical studies in economic analyses of alternative cattle management practices.
Impacts
Several of the publications listed provide important descriptive information about beef production and marketing practices. These data are reported for large and small beef operations. Research was conducted to estimate demand for a beef cattle marketing cooperative in Mississippi and determine the amount producers were willing to pay to form such a cooperative. Analysis was conducted by using a censored prohibit model to estimate willingness to pay. On average, producers were willing to invest $1.66 per head marketed. Factors that had the largest positive impact on WTP were producers who were willing to permanently identify all of their cows and calves and producers who were willing to accept prices negotiated by the cooperative. Negative factors included producer willingness to implement a pre-weaning health management program and the percentage of replacement heifers purchased through regular auctions.
Publications
- St. Louis, D.G., T. J. Engelken, R.D. Little, and N.C. Edwards. Case Study: Systems to Reduce the Cost of Preconditioning Calves. The Professional Animal Scientist. 2003. 19:357-361.
- Lusk, Jayson L., Randall Little, Allen Williams, John Anderson and Blair McKinley. Utilizing Ultrasound Technology to Improve Livestock Marketing Decisions. Review of Agricultural Economics. 2003. 25(1):203-217
- White, Larry, Randy Little, and Webb Flowers. Beef Supply Chain Profitability Series Summary. Cattle Business in Mississippi. 50(10):22-23. November 2003.
- White, Larry, Randy Little, and Webb Flowers. Supply Chain Profitability Restaurant Sector. Cattle Business in Mississippi. 50(9):22. October 2003.
- Lacy, R. Curt, M. Darren Hudson, and Randall D. Little. Beef Producer Willingness to Pay to Participate in a Marketing Cooperative. Research Paper presented at the 2003 Annual Meeting of the Western Agricultural Economics Association, July 13-15, 2003, Denver, Colorado.
- Anderson, John D., Curt Lacy, Charlie Forrest, and Randy Little. Stocker Cattle Ownership vs Contract Grazing: A Comparison of Risk-Adjusted Returns. Research Paper presented at the 2003 Annual Meeting of the Southern Agricultural Economics Association, February 2-5, 2003, Mobile, Alabama.
- Anderson, John D., Curt Lacy, Charlie Forrest, and Randy Little. Risk Considerations of Owning versus Contract Grazing Stocker Cattle. Research Poster Paper presented at the 2003 Annual Convention of the American Farm Bureau Federation, January 19, 2003, Tampa, Florida
- White, Larry, Randy Little, and Webb Flowers. Supply Chain Profitability. Cattle Business in Mississippi. 50(7):22-23. August 2003.
- White, Larry, Randy Little, and Webb Flowers. Measuring Profitability from a Lender's Perspective IRM News. Cattle Business in Mississippi. 50(6):20, 52. June/July 2003.
- White, Larry, Randy Little, and Webb Flowers. How Should We as Cow-calf Producers Measure Profitability? IRM News. Cattle Business in Mississippi. 50(5):22. May 2003.
- Little, Randall D., John D. Anderson, R. Curt Lacy, and Charlie S. Forrest. Production Practices of Mississippi Beef Cattle Producers. Research Report 2003-002. Department of Agricultural Economics, Mississippi State University. December 2003.
- Little, Randall D., John D. Anderson, R. Curt Lacy, and Charlie S. Forrest. Marketing Practices of Mississippi Beef Cattle Producers. Research Report 2003-003. Department of Agricultural Economics, Mississippi State University. December 2003.
- Little, Randall D., R. Curt Lacy, Charlie S. Forrest, and Thomas L.Gregory. Attitudes of Large Beef Producers Toward Selected Production and Marketing Practices. MAFES Bulletin 1128. Mississippi Agricultural and Forestry Experiment Station, Mississippi State University. January 2003.
- Lacy, Richard C., Randall D. Little, Charlie S. Forrest, and Thomas L. Gregory. Attitudes of Small Beef Producers Toward Selected Production and Marketing Practices. MAFES Bulletin 1126. Mississippi Agricultural and Forestry Experiment Station, Mississippi State University. January 2003.
|
Progress 01/01/02 to 12/31/02
Outputs
The objective of this research project is to provide practical and pertinent information that contributes to a more stable and efficient livestock industry in Mississippi. This includes identifying management practices and resource requirements associated with profitable and environmentally responsible livestock (beef cattle and hogs) and poultry production systems. Work continues with animal scientists and food animal veterinarians to use data generated in their physical studies in economic analyses of alternative cattle management practices.
Impacts
In the cull cow management study, we used enterprise budgets and sensitivity analyses to illustrate cull cow management strategies that overcome certain physical and economic factors that limit the profitability of fall cow sales. The key limiting physical factor is often poor body condition, which results from the combined effect of lactation and deteriorating forage quality. The key economic factor is a seasonal price low, generated by a large beef supply in the fall. The results suggest potential, with adequate, low-cost feedstuffs, to increase net returns by properly managing cull breeding stock. In only one year during the 10-year period, 1990-1999, was selling cull cows in the fall the more profitable option. Over that time period, the net present value of spring cull sales averaged about $30 per cow more than selling cull cows in the fall. In the study of the investment in the infrastructure supporting Mississippi's equine industry, we estimated that a total of
$985.8 million is invested in selected aspects of the equine industry. Towing vehicles accounted for 38.2 percent of selected investments and trailers accounted for 21.3 percent of selected investments. These estimates represent 59.5 percent of the total. Investment in barns and land, estimated to be 18.6 percent and just over 11 percent, respectively, were the next most important areas or infrastructure investment. Investment information is a necessary component when considering the economic impact of the horse industry on the economy of Mississippi.
Publications
- Baird, George and Randy Little. Agriculture Asset Management; Sound Business Development. 2002 Journal of Farm Managers and Rural Appraisers. Pp. 64-68.
- Little, Randall D., Allen Williams, R. Curt Lacy, and Charlie S. Forrest. Cull Cow Management and Its Implications for Farm Profitability. Journal of Range Management. 2002. 55:112-116.
- Mancill, David A. An Economic Evaluation of Retained Ownership of Beef Cattle in Mississippi. Unpublished Master of Science Thesis. Department of Agricultural Economics, Mississippi State University. 2002.
- Anderson, John D., Malcolm L. Broome, and Randall D. Little. Evaluating Rotational Grazing Management Systems in Mississippi. Forage Facts. Cattle Business in Mississippi. 49(5):12, 13, 17, 19. May 2002.
- Anderson, John D., Malcolm L. Broome, and Randall D. Little. Rotational Grazing: Will It Pay? Publication No. 2299, Extension Service, Mississippi State University. 2002.
- St. Louis, David G., Terry J. Engelken, Randall D. Little, and Ned C. Edwards. Systems to Reduce the Cost of Preconditioning Purchased Calves. MAFES Research Report 23(3). Mississippi Agricultural and Forestry Experiment Station, Mississippi State University. March 2002.
- Hamill, James and Randall D. Little. Investment in Infrastructure in the Mississippi Horse Industry. MAFES Research Report. Mississippi Agricultural and Forestry Experiment Station, Mississippi State University. 23(1), February 2002.
- Hamill, James G. and Randall D. Little. Infrastructure Investment in the Mississippi Horse Industry. Research Paper presented at the Annual Conference of the Southwestern Economics Association, March 27-30, 2002, New Orleans, Louisiana.
|
Progress 01/01/01 to 12/31/01
Outputs
The objective of this research project is to provide practical and pertinent information that contributes to a more stable and efficient livestock industry in Mississippi. This includes identifying management practices and resource requirements associated with profitable and environmentally responsible livestock (beef cattle and hogs) and poultry production systems. I am working with animal scientists and food animal veterinarians to use data generated in their physical studies in economic analyses of alternative livestock management and marketing practices. Projects currently underway include using the Farm-to-Feedlot program data to analyze live animal carcass ultrasound technology. We are also studying the effect of feeder cattle morbidity rates on the overall profitability of a finishing operation. These data are also being used to determine the relative economic performance of alternative retained ownership strategies.
Impacts
The purpose bull purchase decision study was to determine the economic potential of selecting a bull with increased genetic potential. A net present value approach was used to determine the present value of the additional earnings, based on improved weaning weights, of a superior bull, compared to an average, status quo bull. Based on the results, it would take a producer investing an additional $1,500 in a superior herd bull (above the $800 assumed for an average bull) less than three years to recover that additional investment, assuming the superior bull increased average weaning weight by 50 pounds. Given the assumptions used in this study, producers can potentially increase net income by purchasing superior bulls, compared to average bulls. However, producers should be cognizant that changes in calf prices, input costs, bull performance, the number of cows per bull, and bull longevity could alter the findings of this study. Energy expenditures are a major
component of the total costs growers face when producing broilers under contract. High environmental temperatures hinder rate of growth and feed efficiency. The negative effect of temperature on flock performance can be lessened by evaporative cooling and increased air velocity. The objective of the study of internal environment control in broiler houses was to evaluate the financial response of maintaining in-house temperatures at selected setpoints. The results, based, on improved broiler growth rates and feed efficiency, suggest that financial incentives exist for maintaining cooler broiler house temperatures.
Publications
- Little, Randall D., R. Curt Lacy, Terry J. Engelken, Fred D. Lehman, and Charlie S. Forrest. "Net Present Value Analysis of a Bull Purchase Decision." Southwestern Journal of Economics. 2001. 4(2):117-130.
- Little, Randall D., James D. May, John D. Simmons, and Berry D. Lott. "Financial Analysis of Selected Setpoints for Broiler Houses." 2001 Journal of Farm Managers and Rural Appraisers. Pp. 3-7.
- Little, Randall D., Jayson Lusk, John Anderson, and Allen R. Williams. "Economic Benefit of Live Animal Carcass Ultrasound Technology." Abstract: Journal of Agricultural and Applied Economics. 33(3):620. 2001.
- Little, Randall D., Allen R. Williams, and Jayson Lusk. "Live Animal Carcass Ultrasound - Physical and Economic Considerations." Abstract: Journal of Agricultural and Applied Economics. 33(3):634. 2001.
- Lacy, R.C., W.A. Frank, and R.D. Little. "Composting Swine Manure: A Technical and Economic Analysis." Livestock Environment VI - Proceedings of the Sixth International Symposium. Richard R. Stowell, Ray Bucklin, and Robert W. Bottcher, Editors. 2001. Pp. 758-763.
- Randall Little (Moderator), Jayson Lusk, and Allen Williams. "Live Animal Carcass Ultrasound - Physical and Economics Considerations." Organized Symposium. Southern Agricultural Economics Association Annual Meetings. January 27-31, 2001, Fort Worth, Texas.
- Lacy, R.C., W. Franks, and R.D. Little. "Composting Swine Manure: A Technical and Economic Analysis." Technical paper accepted for presentation at the Sixth Annual Livestock Environment Symposium, Lexington, Kentucky, May 2001.
- Little, Randall D., R. Curt Lacy, and Charlie S. Forrest. "Attitudes of Large Beef Producers Toward Selected Production and Marketing Practices." Research Paper presented at the Annual Conference of the Southwestern Economics Association, March 14-18, 2001, Fort Worth, Texas.
- Lacy, R.C., R.D. Little, A.R. Williams, Charlie S. Forrest, and B. McKinley. "Contrasting Key Animal Performance Traits of Most Profitable and Least Profitable Beef Steers." Research Paper presented at the Annual Conference of the Southwestern Economics Association, March 14-18, 2001, Fort Worth, Texas.
- Little, Randall D., Michael E. Boyd, R. Curt Lacy, Philip Vandevere, and Charlie S. Forrest. "An Economic Comparison of Selected Summer Stocker Systems." Research Paper presented at the Annual Conference of the Southwestern Economics Association, March 14-18, 2001, Fort Worth, Texas.
- Lacy, R.C., R.D. Little, and C.S. Forrest. "Attitudes of Small Beef Producers Toward Selected Production and Marketing Practices." Research Paper presented at the 28th Annual Meeting of the Academy of Economics and Finance, February 14-17, 2001, Biloxi, Mississippi.
- Little, R.D., R.C. Lacy, A.R. Williams, and B. McKinley. "Economic Analysis of Selected Retained Ownership Strategies." Research Paper presented at the 28th Annual Meeting of the Academy of Economics and Finance, February 14-17, 2001, Biloxi, Mississippi.
- Little, Randall D., Jayson Lusk, John Anderson, and Allen R. Williams. "Economic Benefit of Live Animal Carcass Ultrasound Technology." Research Paper presented at the 2001 Annual Meeting of the Southern Agricultural Economics Association, February 28-31, 2001. Ft. Worth, Texas.
|
Progress 01/01/00 to 12/31/00
Outputs
The objective if this research project is to provide practical and pertinent information that contributes to a more stable and efficient livestock industry in Mississippi. This includes identifying management practices and resource requirements associated with profitable and environmentally responsible livestock (beef cattle and hogs) and poultry production systems. I am working with animal scientists and food animal veterinarians to use data generated in their physical studies in economic analyses of alternative cattle management practices. Projects currently underway include using stocker and feedlot performance data collected from animals participating in the Farm-to-Feedlot program to compare physical performance attributes of the most and least profitable animals in the study. These data are also being used to determine the relative economic performance of retained ownership alternatives. Selling at weaning will be compared to selling after a stocker phase with
custom grazing and also with selling after finishing. Finally, data collected as part of a summer grazing study will be used to consider the economic ramifications of alternative summer stocker systems. The preliminary physical performance results are promising, especially considering the drought conditions of the summer of 2000.
Impacts
Cattle Producer Attitudes Towards Alternative Production and Marketing Practices Larger producers use more intensive production and management practices and production and financial records than other size groups Larger producers use more intensive health management practices than small producers Most producers are willing to change production practices if they think they can increase the profits from their cattle operations Larger producers are more willing to use marketing practices other than simply selling at a conventional auction market Key factors that motivate cattle marketing decisions include reaching a target weight, prices reaching a set level, forage availability, and anticipation of falling prices Most producers are less willing to adopt alternative marketing practices, including retaining ownership, forward contracting, and pooling cattle, than production practices Cull Cow Management and Its Implications for Farm Profitability Selling cull breeding
livestock is often viewed as `just another chore.' However, since cull cow sales comprise about 15 to 30 percent of a cow-calf enterprise's gross revenue, perhaps the culling activity should be managed as a potential profit center. Our research suggests that it may be profitable for producers to feed cull cows through the winter to capture premiums for better body condition and capitalize on seasonal price patterns. Net returns from adding weight to cows and selling them in the spring, which average $30 per cow more, exceeded net returns from fall sales in all but one of the10 years studied.
Publications
- Little, Randy, Allen Williams, Curt Lacy, and Charlie Forrest. August 2000. "Cull Cow Management and Its Implications for Farm Profitability." The Leading Edge Cattleman. Mississippi/Alabama Cattle Producers. 2(7):1-2.
- Little, Randy, Charlie Forrest, Allen Williams, and Blair McKinley. August 2000. "Making Cull Cows a Potential Profit Center." Cattle Business in Mississippi. 48(8):19, 23, 52.
|
|