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Modeling Impacts of Location- and Product-Targeted Demand Enhancement on Pork Producer Profitability
May 1, 2024
Meat Demand Research Studies
these values, the average live market price of lean
hogs … the year 2023 at an average live-weight price of $0.59/lb …
May 1, 2003
Assessing Business Opportunities
under which the producers
live; (2) the amount of oil extracted …
June 20, 2016
Financial Management
A farm’s net income measures its ability to cover the cost of crop inputs, fuel, and wages along with
costs of land and equipment assets. Over time farms must maintain a positive net income to remain in business
and cover family living expenses. Additionally, a farm’s viability is affected by how its net income compares to
other operations. Crop production is a competitive industry. Farms compete indirectly with one another through
crop markets and directly over land. More profitable farms are more capable of lasting through periods of
unprofitability and producing crops at long run equilibrium prices while also remaining more competitive in land
markets. Farms that achieve a higher than average net income over time are better positioned to reinvest in and
grow their businesses and pass them on to future generations.
In his paper “What is Strategy?” Michael Porter (1996) specifies two ways businesses can outperform
their rivals: operation efficiency and strategy. Superior performance by operation efficiency means executing
the same activities more efficiently and therefore at a higher profit than rivals. In crop production this could
equate to planting the same crops, using the same tillage practices, and applying similar inputs as other rival
farms, but doing it more efficiently (i.e., getting a higher yield with similar inputs) and therefore earning a higher
profit. Superior performance through strategy means performing different activities or performing similar
activities in a different way than rivals. In crop production this could equate to planting different crops, using
different tillage technology, or using different rates of inputs (e.g., applying a more optimal rate of fertilizer)
than rivals and as a result producing crops at a higher profit. The primary focus of this research is identifying
how farms can outperform other farm operations by farming differently (i.e. superior performance through
strategy).
Farms can outperform other operations as a direct result or through rippling effects of strategic
decisions. Taking pest and weed control as example, farms that use no tillage practices will typically have higher
Kansas State University Department Of Agricultural Economics Extension Publication …
March 1, 2006
Dairy
built. Producers will have to live with
these mistakes for …
March 9, 2011
Energy
make them a good feed for live-
stock. They are dried (at …
May 1, 2014
Projections and Forecasts by LMIC
Live Sltr. % Chg. Feeder Steer …
certain film, television, and live theatrical productions.
• …
November 29, 2021
Ag Law Issues
taxpayer was a non-farmer that lived in Texas and worked for the …
May 2, 2022
Recent Videos, Risk and Profit Online Mini-Conference Presentations