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Evaluating Returns to Cool Season Grass Quality Characteristics for Niche Equine Feed Markets

Kynda Curtis, Margaret Cowee (), Man-Keun Kim and Thomas Harris

Journal of Agribusiness, 2010, vol. 28, issue 1, 18

Abstract: This study examines the impact of cool season grass quality characteristics on pricing and net returns in niche equine feed markets. A hedonic analysis of Timothy grass hay prices in Nevada was performed to determine the implicit values of its quality characteristics. A Monte Carlo simulation was then conducted to estimate the distribution of net returns to improving grass hay quality characteristics. Results show that the presence of foreign matter had the largest impact on grass hay price, followed by seller reputation and hay color. However, for risk-averse producers, enhancing seller reputation and grass hay color are the preferred strategies for increasing net returns.

Keywords: Crop Production/Industries; Marketing; Risk and Uncertainty (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jloagb:131184

DOI: 10.22004/ag.econ.131184

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