Factors Impacting Reproductive Success and Asset Value of Beef Breeding Females in Mississippi Auctions

A breeding female’s perceived value is a complicated process and depends on a combination of expected production costs, reproductive success, and calf values. A conceptual asset value model based on female characteristics as signals and net implicit marginal value expectations is developed. A hedoni...

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Bibliographic Details
Published in:Journal of agricultural and applied economics 2021-02, Vol.53 (1), p.110-133
Main Authors: Marshall, Tori L., Coatney, Kalyn T., Parish, Jane A., Little, Randall D., Maples, Josh G., Williams, Brian R.
Format: Article
Language:English
Subjects:
Abortion
Agricultural economics
Animal reproduction
Auctions
Beef
Breeding success
Capital investments
Cattle
Cost benefit analysis
Expected values
Females
Net present value
Production costs
Purchasing
Regression analysis
Reproduction
Salvage value
Success
Valuation
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Summary:A breeding female’s perceived value is a complicated process and depends on a combination of expected production costs, reproductive success, and calf values. A conceptual asset value model based on female characteristics as signals and net implicit marginal value expectations is developed. A hedonic model based on sequentially sold individuals at multiple Mississippi auction locations is estimated by panel regression. Among other findings, pregnant females are discounted in proportion to abortion risk, which decreases toward birth. A follow-up cost/benefit analysis indicates producers are better off from at home pregnancy checking and selling only nonpregnant females or cow/calf pairs.
ISSN:1074-0708
2056-7405
DOI:10.1017/aae.2020.29