Alternative Annual Forage Crop Options for Northern Great Plains Cattle Producers: A South Dakota Case Study

Md Rezwanul Parvez, Scott Fausti, Thandiwe Nleya, Patricia S. Johnson, Kenneth C. Olson and John Rickertsen

No 132501, Economics Staff Papers from South Dakota State University, Department of Economics

Abstract: In the Northern Great Plains, crop and livestock producers view forage crop production as an important component of their farm management system. During periods of increased environmental risk, alternative annual forage crops may provide producers with a risk reducing alternative to traditional forage crops. An alternative forage crop production study (20 varieties) was conducted by SDSU. Production yield data was analyzed using alternative decision making criteria when outcomes are uncertain. Empirical results provide insight on forage crop planting decisions with respect to the importance of optimal harvest timing, and the ranking of alternative forage crops as a cash crop or as a grazing resource for livestock. The management decision criteria used to evaluate the economic value of the forage crops included are: a) Expected Value, b) Max-Min, and c) Minimum Variance. Triticale and Barley rank the highest with respect to Expected Value criteria, but Oats and Barley dominate based on risk avoidance criteria (Max-Min and Minimum Variance criteria). Rankings for summer forage crops indicate that sorghum varieties ranked highest for economic value. However, the millet varieties rank higher with respect to the risk avoidance criteria.

Keywords: Crop Production/Industries; Farm Management (search for similar items in EconPapers)
Pages: 24
Date: 2012-08
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Persistent link: https://EconPapers.repec.org/RePEc:ags:sdsusp:132501

DOI: 10.22004/ag.econ.132501

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