Hostname: page-component-78c5997874-94fs2 Total loading time: 0 Render date: 2024-11-10T03:21:16.263Z Has data issue: false hasContentIssue false
  • English
  • Français

Hog Producers' Risk Management Attitudes and Desire for Additional Risk Management Education

Published online by Cambridge University Press:  28 April 2015

George F. Patrick ,
Amy J. Peiter ,
Thomas O. Knight ,
Keith H. Coble  and
Alan E. Baquet
George F. Patrick
Affiliation:
Department of Agricultural Economics, Purdue University, West Lafayette, IN
Amy J. Peiter
Affiliation:
Department of Agricultural Economics, Purdue University, West Lafayette, IN
Thomas O. Knight
Affiliation:
Department of Agricultural and Applied Economics, Texas Tech University, Lubbock, TX
Keith H. Coble
Affiliation:
Department of Agricultural Economics, Mississippi State University, Mississippi State, MS
Alan E. Baquet
Affiliation:
Department of Agricultural Economics, University of Nebraska, Lincoln, NE
Get access Rights & Permissions [Opens in a new window]

Abstract

Hog producers in Indiana and Nebraska were surveyed about sources of risk, effectiveness of risk management strategies, and prior participation in and desire for additional risk management education. Ownership of hogs by the producer, size of the operation, and age did have significant effects on ratings of both sources of risk and effectiveness of risk management strategies. Probit analysis found age, prior attendance, knowledge and prior use of the tool, level of integration, and concern about price and performance risk have significant effects on interest in further education about production contracts, futures and options, packer marketing contracts, and financial management.

Keywords

financial managementfutures and optionspacker marketing contractsproduction contractsrisk attitudesrisk managementD81D83Q12Q16
Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 39 , Issue 3 , December 2007 , pp. 671 - 687
Copyright
Copyright © Southern Agricultural Economics Association 2007

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Anderson, K.B., and Mapp, H.P.. “Risk Management Programs in Extension.” Journal of Agricultural and Resource Economics 21(July 1996):31–38.Google Scholar
Ben-Porath, Y. “The Production of Human Capital and the Life Cycles of Earnings.” The Journal ofPolitical Economy 75(Part 1 August 1967):352-65.CrossRefGoogle Scholar
Boehlje, M.D., and Lins, D.A.. “Risks and Risk Management in an Industrialized Agriculture.” Agricultural Finance Review 58(1998):1–16.Google Scholar
Boehlje, M.D., and Trede, L.D.. “Risk Management in Agriculture.” Journal of the American Society of Farm Managers and Rural Appraisers 41 (April 1977):20–29.Google Scholar
Buzby, J.C., Skees, J.R., and Benson, F.J.. “Risk Management Education.” Journal of Extension 30(Spring 1992). Internet site: www.joe.org/joe/1992spring/a7.html (Accessed September 13, 2007).Google Scholar
Carter, B.R., and Batte, M.T.. “Selecting Delivery Methods for Outreach Education Programs.” Journal of Agricultural and Applied Economics 26(December 1994):473-84.CrossRefGoogle Scholar
Coble, K.H., Knight, T.O., Patrick, G.F., and Baquet, A.E.. Crop Producer Risk Management Survey: A Preliminary Summary of Selected Data. Mississippi State: Department of Agricultural Economics, Mississippi State University, Information Report 99-001, 1999.Google Scholar
Goodwin, B.K., and Schroeder, T.C.. “Human Capital, Producer Education Programs, and the Adoption of Forward-Pricing Methods.” American Journal of Agricultural Economics 76(November 1994):936-47.CrossRefGoogle Scholar
Hall, D.C., Knight, T.O., Coble, K.H., Baquet, A.E., and Patrick, G.F.. “Analysis of Beef Producers’ Risk Management Perceptions and Desire for Further Risk Management Education.” Review of Agricultural Economics 25 (Fall/Winter 2003):430-48CrossRefGoogle Scholar
Knight, T.O., Coble, K.H., Patrick, G.F., and Baquet, A.E.. “Risk Management Education: An Examination of Crop Producers’ Participation in Recent Programs and of Their Desire for Additional Training.” Journal of Agricultural and Applied Economics 35(December 2003):571-87.CrossRefGoogle Scholar
Lawrence, J.D., and Grimes, G.. Production and Marketing Characteristics of U.S. Pork Producers, 2000. Ames: Department of Economics, Iowa State University, Staff Paper No. 343, August 2001.Google Scholar
Lawrence, J.D., and Hayenga, M.L.. “The U.S. Pork and Beef Sectors: Divergent Organizational Patterns, Paradoxes and Conflicts.” Paradoxes in Food Chains and Networks. Trienekens, J.H. and Omta, S.W.F. eds. Wageningen, Netherlands: Wageningen Academic Publishers, 2002.Google Scholar
Likert, R. “A Technique for the Measurement of Attitudes.” Archives of Psychology 140(June 1932):5–55.Google Scholar
Patrick, G.F., and DeVuyst, E.A.. “Whence and Whither in Farm Management Risk Research and Extension Delivery?” Canadian Journal of Agricultural Economics 43(March 1995):1–14.Google Scholar
Patrick, G.F., Wilson, P.N., Barry, P.J., Boggess, W.G., and Young, D.L.. “Risk Perceptions and Management Responses: Producer-Generated Hypotheses for Risk Modeling.” Southern Journal of Agricultural Economics 17(December 1985):231-38.Google Scholar
Selley, R.A., and Wilson, P.N.. “Risk Research and Public Outreach: A Tale of Two Cultures?” Journal of Agricultural and Resource Economics 22(December 1997):222-32.Google Scholar
United States Congress. H.R. 2557 – Agricultural Risk Protection Act of 2000. Washington D.C., 2000.Google Scholar
Vergara, O., Martin, S., Coble, K.H., Patrick, G.F., Knight, T.O., and Baquet, A.E.. Extension Educators’ Supply of Risk Management Training to Farmers. Selected paper presented at the Southern Agricultural Economics Association Annual Meeting, Mobile, Alabama. February 1-5, 2003.Google Scholar
Walker, O.L., and Nelson, A.G.. “Dealing with Risks in the Management of Agricultural Firms: An Extension/Teaching Viewpoint.” Risk Analysis in Agriculture: Research and Educational Developments. Western Regional Project W-149 Proceedings, Champaign/Urbana: University of Illinois, Department of Agricultural Economics, AE–492, 1980:22–53.Google Scholar