On the Inclusion of Hay in Ontario's Gross Revenue Insurance plan: A Target Semivariance Approach

Catherine Skelton and Calum Turvey

Review of Agricultural Economics, 1994, vol. 16, issue 2, 321-331

Abstract: This article examines the effects of including or excluding hay under Canada's new Gross Revenue Insurance Plan on optimal beef input (feed ration) and output decisions. Using a representative target-semivariance model of a medium-sized Ontario feedlot, it is shown that inclusion of hay as a program crop would have little effect on either choice of feed ration or beef production. In fact, since greater price protection/benefits accrue to program crops such as corn, corn silage, and soybeans, plantings of these crops crowd out both the growing of hay and the use of hay-based feed rations.

Date: 1994
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