Agribusiness : An International Journal

Gao, X. M.; Reynolds, Anderson; Lee, Jonq‐Ying

doi: 10.1002/1520-6297(199307)9:4<317::AID-AGR2720090403>3.0.CO;2-Jpmid: N/A

Recognizing the unobservability of consumer perception, a structural latent variable model with multiple dichotomous indicators and multiple cause variables was employed to characterize consumer perception of orange juice. Results indicated that education, sex, race, urbanization, and household size were important determinants of consumer perception. Other results suggested that several of the included indicator variables (such as orange juice is good for breakfast, is good for health, is energizing, and is refreshing) represented important dimensions of the latent consumer perception variable. © 1993 John Wiley & Sons, Inc.

Gleckler, James; Koopman, Robert; Tweeten, Luther

doi: 10.1002/1520-6297(199307)9:4<325::AID-AGR2720090404>3.0.CO;2-Fpmid: N/A

The economics of agriculture favors acceptance by the European Community (EC) of members of the European Free Trade Association (EFTA) before former members of the East Bloc. Analysis indicates the considerable agricultural production bread basket potential of Central and East Europe will be unleased first by market‐directed economies and later by integration with the EC—if the latter occurs. US consumers gain more than producers lose so economic welfare of Americans is raised modestly. US producers of most commodities lose from East European adjustments to a market orientation and merger with the EC. An EFTA merger mitigates these losses to US producers. © 1993 John Wiley & Sons, Inc.

Schroeder, Ted C.

doi: 10.1002/1520-6297(199307)9:4<339::AID-AGR2720090405>3.0.CO;2-5pmid: N/A

Live hog prices must reflect end‐use pork value to efficiently convey market information from consumers to producers. Precise end‐use value is excessively costly to trace for each carcass given current technology. As such, pricing structures must be based upon carcass merit information that is correlated with end‐use value. In this study, a model to value hog carcasses based upon carcass characteristics is estimated. The model is used to evaluate the pricing structures of five hog slaughterers. The results indicate that although some packers pricing schedules are highly consistent with estimated end‐use values others are less consistent. © 1993 John Wiley & Sons, Inc.

Misra, Sukant K.; Carley, Dale H.; Fletcher, Stanley M.

doi: 10.1002/1520-6297(199307)9:4<351::AID-AGR2720090406>3.0.CO;2-4pmid: N/A

Survey data of 2,538 dairy farmers located in 12 southern states were used to analyze the factors influencing farmers' degree of satisfaction with the overall performance of milk marketing cooperatives. Results from an ordered probit model indicate that southern dairy farmers perceive cooperatives' ability to hold down operating and marketing costs, to provide higher prices and competent field services, and assure a market for their milk as important attributes of efficient viable cooperatives. Furthermore, the study found that there are significant differences in the degree of satisfaction with the cooperatives among the dairy farmers located in the 12 southern states. © 1993 John Wiley & Sons, Inc.

Angirasa, Aditi K.; Davis, Bob; Banker, David E.

doi: 10.1002/1520-6297(199307)9:4<363::AID-AGR2720090407>3.0.CO;2-Xpmid: N/A

The comparative financial performance of Southern Plains and US farm businesses was analyzed for the 1987–1989 period. The results showed no significant differences between the profitability ratios of the two groups of farms, except in the $40,000 to $249,999 sales class, where US farms performed at a higher level in two of the three years studied. In both groups, farms with gross sales of $250,000 or more had significantly higher profitability ratios among the three sales classes analyzed. The intergroup or interclass differences in performance were due primarily to the differences in efficiency and/or the leverage position of the farms. © 1993 John Wiley & Sons, Inc.

Wilson, William W.; Preszler, Todd

doi: 10.1002/1520-6297(199307)9:4<377::AID-AGR2720090408>3.0.CO;2-Npmid: N/A

The input characteristic model (ICM) was used to analyze impacts of price and quality on competition in international wheat trade. The model was applied to a UK processor that produces flour with domestically produced wheat and imported hard wheats. Results are used to identify critical quality parameters and the impact of relative prices on import demand. © 1993 John Wiley & Sons, Inc.

Ortmann, Gerald F.; Patrick, George F.; Musser, Wesley N.; Howard Doster, D.

doi: 10.1002/1520-6297(199307)9:4<391::AID-AGR2720090409>3.0.CO;2-Kpmid: N/A

Farmers attending the 1991 Top Farmer Crop Workshop were surveyed on their sources and costs of information. Respondents spent an average of $2,578 per year on information sources and rated their own farm records/budgets highest for usefulness in decisions. In contrast to earlier studies, these farmers gave less importance to salesmen and other farmers as sources of information, but gave greater importance to consultants. Use of consultants tended to be greater on larger, more diversified farms with more complex financial structure. Younger farmers and those using computers also tended to make use of consultants. © 1993 John Wiley & Sons. Inc.

Crane, Laurence M.; Leatham, David J.

doi: 10.1002/1520-6297(199307)9:4<403::AID-AGR2720090410>3.0.CO;2-Xpmid: N/A

This study reviews profit and loss sharing instruments used in Islamic banking. It is argued that US financial intermediaries can use profit and loss sharing instruments to provide external equity capital needed to finance agricultural production. Such an innovation would help reduce financial risk in agriculture. © 1993 John Wiley & Sons, Inc.