Production Flexibility and Technical Change in Australia's Wheat-Sheep Zone

McKay, Lloyd; Lawrence, Denis; Vlastuin, Chris

doi:10.22004/ag.econ.12290

Cited by 6 publications

References 8 publications

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Investigating improved pasture productivity change on the New South Wales tablelands

Vere

1998

Agricultural Economics

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The productivity of improved pastures in Australia's southeastern grazing regions is now bclievcd to be in a sture of long-terni decline. As yer, therc is little economie evidence to support this perception. The analysis reported in this paper secks to examine improved pasture Productivity change l'rom an economie standpoint in a major Australian grazing area, The analysis rests on the central proposition that the productivity of the livestock enterprises is a direct rcflection of pasture productivity. Using both index nurnber and econometrie mcthods, the results indicate that while the annual growth in livestock and hence, improved pasture produciivity has been positive over the period, thore has been a significant decline in legume pasture productivity. Because thèse pastures comprise the bulk of improved pastures, the livestock productivity of ail improvcd pasturcs has dcclined in recent ycars. In contrast, the growth in livestock productivity l'mm the perennial grass pastures continues to be high. The main l'casons for legume pasture Iivestock productivity decline appcar to he varions important hiological problems and the long-terni decline in the farmers' terms-of-trade. Puhlished hy Elsevier Science B.V.

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Investigating improved pasture productivity change on the New South Wales tablelands

Vere

1998

Agricultural Economics

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Potential demand for hedging by Australian wheat producers

Simmons

Rambaldi

1997

Aus J Agri & Res Econ

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The potential for hedging Australian wheat with the new Sydney Futures Exchange wheat contract is examined using a theoretical hedging model parametised from previous studies. The optimal hedging ratio for an`average' wheat farmer was found to be zero under reasonable assumptions about transaction costs and based on previously published measures of risk aversion. The estimated optimal hedging ratios were found by simulation to be quite sensitive to assumptions about the degree of risk aversion. If farmers are signi®cantly more risk averse than is currently believed, then there is likely to be an active interest in the new futures market.

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Supply Response in the Australian Sheep Industry: A Profit Function Approach*

Fisher

Wall

1990

Australian Journal of Agricultural Economics

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A ustralia n Bureau of Agricultural and Reso ti rce Econo m icx Canberra, ACT 2601Profit function models for the three major regions in which the Australian sheep industry operates are specified and estimated. The supply response elasticity estimates are made using a normalised quadratic functional form and time series cross-sectional data. Elasticity estimates, together with their confidence intervals, are presented for the pastoral, wheat-sheep and high rainfall zones. In general, the supply response elasticity estimates derived in this study are lower than those previously reported for studies in which little or no account has been taken of the multi-product nature of Australian agriculture.

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Production Flexibility and Technical Change in Australia's Wheat-Sheep Zone

Cited by 6 publications

References 8 publications

Investigating improved pasture productivity change on the New South Wales tablelands

Investigating improved pasture productivity change on the New South Wales tablelands

Potential demand for hedging by Australian wheat producers

Supply Response in the Australian Sheep Industry: A Profit Function Approach*

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