A Multivariate Evaluation of "Ex ante"  Risks Associated with Fed Cattle Production

Eric J. Belasco, Sujit K. Ghosh and Barry K. Goodwin

American Journal of Agricultural Economics, 2009, vol. 91, issue 2, pages 431-443

Abstract: The purpose of this paper is to evaluate production risks faced by fed cattle producers. We do this by jointly modeling a group of cattle production yield risk factors using a multivariate dynamic regression model. The proposed econometric model estimates parameters that influence the mean and variance of production yield factors, as well as the covariance between variables, while accounting for a high degree of censoring through the use of a dynamic multivariate Tobit model. The model provides insights into the relationship between production yield factors in fed cattle production. Copyright Copyright 2009 Agricultural and Applied Economics Association.

Date: 2009

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