FINANCIAL AND ENVIRONMENTAL TRADEOFFS OF PHOSPHORUS MANAGEMENT PRACTICES ON VERMONT DAIRY FARMS

Robert L. Parsons

No 19786, 2002 Annual meeting, July 28-31, Long Beach, CA from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: FLIPSim is combined with GISPLM to provide policymakers and dairy farmers estimated farm financial impacts on the implementation of 8 Best Management Practices (BMP) designed to reduce phosphorus loading in Lake Champlain. Financial performance indicators are derived for three Vermont dairy farms (60, 150, and 350 cows). Results indicate that feed reformulation and nutrient management are the least cost BMPs but that a combination of 4 BMPs cannot meet the 8% reduction goal. Additional, less effective but more costly BMPs will have to be implemented to meet the goal. None of the individual BMPs cause any of the farms to go out of business. However, the initial declining financial position of the small farm is hastened by the implementation of all BMP's except the row crop field buffer and feed reformulation. The medium farm is also threatened by several costly BMPs. Achieving the desired goal will have an adverse financial impact on watershed farms.

Keywords: Environmental Economics and Policy; Livestock Production/Industries (search for similar items in EconPapers)
Pages: 17
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea02:19786

DOI: 10.22004/ag.econ.19786

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