scholarly journals PSIV-3 Cow Efficiency: Modeling the Biological and Economic Output of a Michigan Beef Herd

2020 ◽  
Vol 98 (Supplement_4) ◽  
pp. 286-287
Author(s):  
Logan R Thompson ◽  
Matt Beck ◽  
Dan Buskirk ◽  
Jason E Rowntree ◽  
Melissa McKendree
Keyword(s):  
Net Present Value ◽  
Biological Efficiency ◽  
Baseline Scenario ◽  
Economic Returns ◽  
Present Value ◽  
Economic Output ◽  
Net Returns ◽  
Tier System ◽  
Cow Calf ◽  
Lake City

Abstract The experiment objective was to examine the biological efficiency and economic returns of a Northern Michigan cow-calf system. We hypothesized that biological efficiency and economic returns would decrease with increasing cow body size. Data was collected from a Red Angus cow herd located at the Lake City AgBio Research Center in Lake City, MI from 2011 to 2018. Data included cow age, weight, and body condition score at weaning, and subsequent 205 d adjusted calf weaning weight (WW), sex, and yearling weight. Biological efficiency was defined as WW as a percentage of cow body weight (DBW). Enterprise budgeting techniques were used to calculate expected net returns from 2011 to 2018 after classifying cows into 11 BW tiers at 22.67 kg intervals beginning at 430.83 kg. Forward looking net present value was calculated using the same tier system, for a 10-year production cycle with the baseline being a 200 d grazing season. For each 1% increase in DBW, WW increased 0.37kg (P < 0.01), but percentage of DBW weaned declined 0.38% over that same range (P < 0.01). This led to cows weaning 26.38 kg/ha more with every 100 kg drop in DBW. Expected net returns from 2011–2018 did not differ by DBW tier on a per cow basis but did on a per ha basis with a decrease in $10.27/ha with each increase in DBW tier (P < 0.01). Net present value was maximized in the baseline scenario at 453.51 kg DBW and decreased in value as DBW increased. These results suggest that for a Northern Midwestern cow-calf herd, comparatively lighter cows combined with longer grazing seasons provide a higher economic value on a land basis.

scholarly journals Cow efficiency: modeling the biological and economic output of a Michigan beef herd

2020 ◽  
Vol 4 (3) ◽  
Author(s):  
Logan R Thompson ◽  
Matthew R Beck ◽  
Daniel D Buskirk ◽  
Jason E Rowntree ◽  
Melissa G S McKendree
Keyword(s):  
Body Weight ◽  
Body Size ◽  
Net Present Value ◽  
Biological Efficiency ◽  
Economic Returns ◽  
Present Value ◽  
Weaning Weight ◽  
Net Returns ◽  
Cow Calf ◽  
Lake City

Abstract In recent decades, beef cattle producers have selected cattle for biological traits (i.e., improved growth) to maximize revenue, leading to an increase in average cow body size. However, matching cow size to the production environment would allow producers to maximize productivity and economic returns per unit of land. This may help meet the goals of sustainable intensification, but environmental complexity and varying cow-calf production systems dictates a regional approach. The objective of this experiment was to examine the biological efficiency and economic returns of a Northern Michigan cow-calf system. We hypothesized that biological efficiency and economic returns would decrease with increasing cow body size. Data were collected from a Red Angus cow herd located at the Lake City AgBio Research Center in Lake City, MI from 2011 to 2018 on cow age, weight, and body condition score at weaning, and subsequent 205 d adjusted calf weaning weight (WW), sex, and yearling weight. Biological efficiency was defined as WW as a percentage of cow body weight (DBW). Enterprise budgeting techniques were used to calculate expected net returns from 2011 to 2018 after classifying cows into 11 BW tiers at 22.67 kg intervals beginning at 430.83 kg. Forward-looking net present value (NPV) was calculated using the same tier system, for a 10-yr production cycle with the baseline being a 200 d grazing season. Weaning weight increased with increasing DBW (P < 0.01), but the percentage of cow body weight weaned was reduced by −38.58 × Ln(DBW) (P < 0.01). This led to cows weaning 26.38 kg/ha more with every 100 kg drop in DBW. Expected net returns from 2011 to 2018 did not differ by DBW tier on a per cow basis but did on a per ha basis with a decrease in $10.27/ha with each increase in DBW tier (P < 0.01). Net present value was maximized in the baseline scenario at 453.51 kg DBW and decreased in value as DBW increased. These results suggest that for a Northern Midwestern cow-calf herd, comparatively lighter cows provide a higher economic value on a land basis.

scholarly journals The Economic Benefits of Malaysian University Degrees

2020 ◽  
Vol 7 (1) ◽  
pp. 15-25
Author(s):  
Mohd Nahar Mohd Arshad ◽  
Nur Nadhira Baharuddin
Keyword(s):  
Human Capital ◽  
Capital Investment ◽  
Net Present Value ◽  
Economic Benefits ◽  
Degree Programs ◽  
Educational Investment ◽  
Present Value ◽  
Public And Private ◽  
Net Returns ◽  
The Individual

AbstractThis study analyzes the net returns of educational investment in Malaysia using the net present value approach. The estimations consider the tuition payments of nine different bachelor degree programs of public and private universities in Malaysia and the forgone earnings while undertaking the degree programs as the cost of investments in human capital. The returns to education investment are based on the expected income accrued by the individual over the employment period until retirement. Under the assumptions that an individual would work until the retirement age of 60 years and a discount rate of 4 percent, the estimations show that holding a computer science degree from Universiti Sains Malaysia would give the highest net present value. Holding a medical degree, in general, would give the lowest net returns on educational investment as compared to the other selected programs. The net returns are sensitive to the costs of education, earnings and the duration of undertaking the degree programs.Keywords: Human capital investment, net present value, private rate of return, educational investment, Malaysian degree programmes

Long-term economic performance of organic and conventional field crops in the mid-Atlantic region

2009 ◽  
Vol 24 (2) ◽  
pp. 102-119 ◽  
Author(s):  
Michel A. Cavigelli ◽  
Beth L. Hima ◽  
James C. Hanson ◽  
John R. Teasdale ◽  
Anne E. Conklin ◽  
...  
Keyword(s):  
Cropping Systems ◽  
Production Costs ◽  
Economic Returns ◽  
Economic Risk ◽  
Present Value ◽  
Atlantic Region ◽  
Price Premiums ◽  
Net Returns ◽  
Organic Systems ◽  
Short Rotation

AbstractInterest in organic grain production is increasing in the United States but there is limited information regarding the economic performance of organic grain and forage production in the mid-Atlantic region. We present the results from enterprise budget analyses for individual crops and for complete rotations with and without organic price premiums for five cropping systems at the US Department of Agriculture–Agricultural Research Service (USDA–ARS) Beltsville Farming Systems Project (FSP) from 2000 to 2005. The FSP is a long-term cropping systems trial established in 1996 to evaluate the sustainability of organic and conventional grain crop production. The five FSP cropping systems include a conventional, three-year no-till corn (Zea maysL.)–rye (Secale cerealeL.) cover crop/soybean (Glycine max(L.) Merr)–wheat (Triticum aestivumL.)/soybean rotation (no-till (NT)), a conventional, three-year chisel-till corn–rye/soybean–wheat/soybean rotation (chisel tillage (CT)), a two-year organic hairy vetch (Vicia villosaRoth)/corn–rye/soybean rotation (Org2), a three-year organic vetch/corn–rye/soybean–wheat rotation (Org3) and a four- to six-year organic corn–rye/soybean–wheat–red clover (Trifolium pratenseL.)/orchard grass (Dactylis glomerataL.) or alfalfa (Medicago sativaL.) rotation (Org4+). Economic returns were calculated for rotations present from 2000 to 2005, which included some slight changes in crop rotation sequences due to weather conditions and management changes; additional analyses were conducted for 2000 to 2002 when all crops described above were present in all organic rotations. Production costs were, in general, greatest for CT, while those for the organic systems were lower than or similar to those for NT for all crops. Present value of net returns for individual crops and for full rotations were greater and risks were lower for NT than for CT. When price premiums for organic crops were included in the analysis, cumulative present value of net returns for organic systems (US$3933 to 5446 ha−1, 2000 to 2005; US$2653 to 2869 ha−1, 2000 to 2002) were always substantially greater than for the conventional systems (US$1309 to 1909 ha−1, 2000 to 2005; US$634 to 869 ha−1, 2000 to 2002). With price premiums, Org2 had greater net returns but also greater variability of returns and economic risk across all years than all other systems, primarily because economic success of this short rotation was highly dependent on the success of soybean, the crop with the highest returns. Soybean yield variability was high due to the impact of weather on the success of weed control in the organic systems. The longer, more diverse Org4+ rotation had the lowest variability of returns among organic systems and lower economic risk than Org2. With no organic price premiums, economic returns for corn and soybean in the organic systems were generally lower than those for the conventional systems due to lower grain yields in the organic systems. An exception to this pattern is that returns for corn in Org4+ were equal to or greater than those in NT in four of six years due to both lower production costs and greater revenue than for Org2 and Org3. With no organic premiums, present value of net returns for the full rotations was greatest for NT in 4 of 6 years and greatest for Org4+ the other 2 years, when returns for hay crops were high. Returns for individual crops and for full rotations were, in general, among the lowest and economic risk was, in general, among the highest for Org2 and Org3. Results indicate that Org4+, the longest and most diverse rotation, had the most stable economic returns among organic systems but that short-term returns could be greatest with Org2. This result likely explains, at least in part, why some organic farmers in the mid-Atlantic region, especially those recently converting to organic methods, have adopted this relatively short rotation. The greater stability of the longer rotation, by contrast, may explain why farmers who have used organic methods for longer periods of time tend to favor rotations that include perennial forages.

scholarly journals Economic Feasibility for Recycling of Waste Crystalline Silicon Photovoltaic Modules

2017 ◽  
Vol 2017 ◽  
pp. 1-6 ◽  
Author(s):  
Idiano D’Adamo ◽  
Michela Miliacca ◽  
Paolo Rosa
Keyword(s):  
Net Present Value ◽  
Crystalline Silicon ◽  
Economic Feasibility ◽  
Environmental Benefits ◽  
Baseline Scenario ◽  
Present Value ◽  
Photovoltaic Modules ◽  
Pv Module ◽  
Global Power ◽  
The Usa

Cumulative photovoltaic (PV) power installed in 2016 was equal to 305 GW. Five countries (China, Japan, Germany, the USA, and Italy) shared about 70% of the global power. End-of-life (EoL) management of waste PV modules requires alternative strategies than landfill, and recycling is a valid option. Technological solutions are already available in the market and environmental benefits are highlighted by the literature, while economic advantages are not well defined. The aim of this paper is investigating the financial feasibility of crystalline silicon (Si) PV module-recycling processes. Two well-known indicators are proposed for a reference 2000 tons plant: net present value (NPV) and discounted payback period (DPBT). NPV/size is equal to −0.84 €/kg in a baseline scenario. Furthermore, a sensitivity analysis is conducted, in order to improve the solidity of the obtained results. NPV/size varies from −1.19 €/kg to −0.50 €/kg. The absence of valuable materials plays a key role, and process costs are the main critical variables.

scholarly journals An Economic Analysis of Poplar Cultivation in Punjab

2020 ◽  
Vol 65 (4) ◽  
Author(s):  
Mandeep Singh
Keyword(s):  
Net Present Value ◽  
Primary Data ◽  
Cost Ratio ◽  
Operational Cost ◽  
Poplar Plantation ◽  
Present Value ◽  
Benefit Cost Ratio ◽  
Net Returns ◽  
Benefit Cost ◽  
Agro Forestry

The present study analyzed the economic viability of poplar based agro-forestry system in Punjab. Primary data were collected from a sample of 60 adopters and 32 non-adopters of agro-forestry from 4 clusters of villages from Ludhiana and Ropar districts of Punjab state pertaining to year 2013-14. Two types of agro-forestry systems AFS-I (wheat + kharif fodder during 1st four years of poplar cultivation) and AFS-II (sugarcane for first two years and wheat during 3-4 years) were identified. The establishment cost was estimated at ` 7,871 per acre for an average farmer. The operational cost was worked out at ` 3,724 during 1-4 years and ` 2,919 during 5-6 years of plantation in AFS-I on per acre basis. The per acre operational cost in AFS-II was estimated at ` 1,904 during 1-2 years, ` 5,071 during 3-4 years and ` 3,630 during 5-6 years of poplar plantation. The net returns were ` 2,02,463, ` 2,05,283 and ` 2,29,720 in AFS-I and ` 2,19,015, ` 1,78,832 and ` 2,00,639 in AFS-II at 4th, 5th and 6th years of harvesting on per acre basis. The benefit-cost ratio and net present value were the highest at 5th year of harvesting in case of AFS-I and AFS-II. The analysis of benefit-cost ratio and net present value showed that the investment in poplar cultivation is considered to be economically viable during the study year.

Economic Feasibility of Rose under Protected Cultivation in Himachal Pradesh

2020 ◽  
pp. 372-380
Keyword(s):  
Net Present Value ◽  
Himachal Pradesh ◽  
Economic Feasibility ◽  
Cost Ratio ◽  
Present Value ◽  
Benefit Cost Ratio ◽  
Internal Rate ◽  
Net Returns ◽  
Protected Cultivation ◽  
Average Size

Economic feasibility of rose under protected cultivation in Solan district of the mid-hill zone of Himachal Pradesh revealed that under the average size of landholding on the overall category was found 3.34 ha of which 23.01 percent was cultivated area. The cropping intensity was highest (173.04 percent) on small playhouse growers followed by semi-medium (172.66 percent), medium (164.20 percent) and large (138.48 percent). At the overall level, it was worked out to be 155.86 percent, which indicated that there was a scope to increase farm efficiency. It can be referred from the analysis that the average cost of production of rose per cut stem varied between 1.60 to 2.11. The net returns from the production of rose-cut stems were ? 3,21,728.66 under 500 m polyhouse, whereas, under 2000 2 m it was ? 15,94,952.69. The net present value of rose was found to vary between 8,37,453 to 5,80,871 under different sizes of non- 2 subsidized, whereas, under subsidized polyhouses, it ranged from 10,14,052 to 61,97,961 under 20 years life of polyhouse. A benefit-cost ratio under subsidized polyhouses of 500 to 2000 m varied 1.39 to 1.74 with an internal rate of return 28 to 41 percent. 2 Similarly, BCR varied from 1.30 to 1.66 under different sizes of non-subsidized polyhouses with an internal rate of 24 to 38 percent. At a discount rate of 10 percent, the present value of 1 received at the end of 20 years, varied between 1,12,117 to 7,77,664 under nonsubsidized and 1,35,760 to 8,29,775 under subsidized polyhouses of different sizes respectively. Therefore the production of rose-cut stems under subsidized and non-subsidized polyhouses infeasible and profitable. Hence, the economic indicators showed that protective cultivation is an economically viable option.

scholarly journals APPLYING CLASSICAL FOREST REGULATION METHODS TO SMALLHOLDINGS WITH COOPERATIVE CONSTRAINTS

CERNE ◽  
2016 ◽  
Vol 22 (2) ◽  
pp. 197-206 ◽  
Author(s):  
Rafael Rode ◽  
Helio Garcia Leite ◽  
Daniel Henrique Breda Binoti ◽  
Carlos Antonio Álvares Soares Ribeiro ◽  
Agostinho Lopes Souza ◽  
...  
Keyword(s):  
Mathematical Programming ◽  
Net Present Value ◽  
Programming Models ◽  
Baseline Scenario ◽  
Present Value ◽  
Regulation Process ◽  
Net Revenue ◽  
The Cost ◽  
Regulation Costs ◽  
Individual Regulation

ABSTRACT This study aims to assess the cooperative regulation process of forestry producers in comparison to the traditional individual regulation of properties. Twenty (20) forest properties are studied as examples of the development of three forest regulation scenarios: 1) individual regulation, 2) group regulation, and 3) cooperative regulation. The Net Present Value (NPV) of each of the scenarios is optimized according to mathematical programming models and compared to a baseline scenario without forest regulation. According to the proposed cooperative regulation, properties had a proportion factor for annual net revenue distribution calculated from results of the baseline scenario. By comparing the NPV maximization results from scenarios 1 and 3 with the non-regulation scenario, the cost for individual regulation is on average 25%, while being only 11% for cooperative regulation, that is, a 14% reduction in property regulation costs. Additionally, cooperative regulation had the advantage of dividing properties into fewer areas when compared to individual regulation.

scholarly journals Use of Optimization Modeling to Assess the Effect of Timber and Carbon Pricing on Harvest Scheduling, Carbon Sequestration, and Net Present Value of Eucalyptus Plantations

Forests ◽  
2021 ◽  
Vol 12 (6) ◽  
pp. 651
Author(s):  
Andrés Hirigoyen ◽  
Mauricio Acuna ◽  
Cecilia Rachid-Casnati ◽  
Jorge Franco ◽  
Rafael Navarro-Cerrillo
Keyword(s):  
Net Present Value ◽  
Programming Model ◽  
C Sequestration ◽  
Mixed Integer ◽  
Harvest Scheduling ◽  
Economic Returns ◽  
Present Value ◽  
Planning Period ◽  
Eucalyptus Dunnii ◽  
The Impact

Quantifying the impact of carbon (C) and timber prices on harvest scheduling and economic returns is essential to define strategies for the sustainable management of short-rotation plantations so that they can provide timber products and contribute to C sequestration. In this paper, we present a mixed-integer linear programming model that optimizes harvest scheduling at the forest level, C sequestration, and Net Present Value (NPV) over a planning period of up to 15 years. The model included revenue from the sale of timber (pulplogs) and credits from the net C sequestered during the life of the stands. In addition, plantation establishment, management, harvesting, and transportation costs were included in the analysis. The study area comprised 88 Eucalyptus grandis W. Hill and Eucalyptus dunnii Maiden stands located in Uruguay, totaling a forest area of nearly 1,882 ha. The study investigated the impact of C and timber prices on NPV, harvest schedules, stands’ harvest age, timber flows to customers, and C sequestered per period. The maximum NPV among all the scenarios evaluated (USD 7.53 M) was calculated for a C price of 30 USD t−1, an interest rate of 6%, and a timber price of 75 USD m−3. This was USD 2.14 M higher than the scenario with the same parameters but that included only revenue from timber. C prices also impacted stands’ harvest age, C sequestration, and timber flows delivered to end customers. On average, in scenarios that included C prices, timber flows and C sequestration increased by 15.4 and 12.1%, respectively, when C price increased from 5 to 30 USD t−1. These results demonstrate that harvest scheduling, harvest age, and NPV are very sensitive to C and timber, and that the best economic returns are obtained when the stands are managed to maximize timber production and C sequestration.

Reducing Cycle Time to First Oil for Deepwater Field Developments

2005 ◽  
Author(s):  
Beverley F. Ronalds
Keyword(s):  
Cycle Time ◽  
Fast Track ◽  
Net Present Value ◽  
Oil And Gas ◽  
Economic Returns ◽  
Present Value ◽  
Field Development ◽  
Wide Range ◽  
Primary Determinant ◽  
The Cost

The cycle time to first production is a primary determinant of the net present value (NPV) of an oil and gas asset. The cost, complexity and risk inherent in deepwater field developments, combined with the relative lack of experience in their execution, often encourages engineers to proceed cautiously in field development. However, a successful fast-track development schedule from discovery to first oil may bring significantly better economic returns. This paper investigates the key parameters influencing cycle time for different facility types, and outlines a wide range of measures that may be adopted to accelerate the time to first production.

scholarly journals Assessment of an Alternative IPM Program for the Production of Apples for Processing

Plant Disease ◽  
2000 ◽  
Vol 84 (10) ◽  
pp. 1140-1146 ◽  
Author(s):  
Alan R. Biggs ◽  
Henry W. Hogmire ◽  
Alan R. Collins
Keyword(s):  
Net Present Value ◽  
Disease Incidence ◽  
Codling Moth ◽  
Management Program ◽  
Oriental Fruit Moth ◽  
Processing Plant ◽  
Alternative Program ◽  
Present Value ◽  
Economic Implications ◽  
Net Returns

Conventional and alternative integrated pest management (IPM) programs for managing arthropods and diseases affecting processing apple production were compared over 4 years. The effects of the two programs on populations of pest and beneficial insects, and on disease incidence and severity, were evaluated in the field and laboratory and at a commercial fruit processing plant by federal inspectors. The economic implications of the alternative management program were assessed by examining its relative costs and benefits compared with conventional management. In the alternative program, arthropods were managed with oil and Bacillus thuringiensis (Bt), and early-season diseases were managed with fungicides. Calcium chloride was used to suppress rot diseases. The alternative plots showed lower levels of indirect pests (aphids, leaf-hoppers, and mites) and increased numbers of arthropod natural enemies. On harvested fruit, there was significantly more injury in the alternative plots from codling moth or oriental fruit moth, plum curculio, and apple maggot. Levels of foliar diseases were similar between treatments; however, fruit from the alternative program exhibited significantly more sooty blotch, flyspeck, and rots. At the commercial processor, levels of cull fruit were higher for the alternative program in 2 of the 3 years with harvestable yield. Loads of fruit that were not acceptable for processing were due mostly to internal worms and worm damage. Incidence of decay was within the quality limits set by the processor, except for one conventional sample, in which decay exceeded 5%. Of the 36 loads of fruit that were examined from each program, 4 and 13 loads were rejected from the conventional and alternative programs, respectively. Net present value comparisons were dependent upon how rejected loads were valued. At cider prices for rejected loads, net returns were similar between programs. When rejected loads were valued at a complete loss, conventional net present value was over 140% higher than the alternative program. Among cultivars, Golden Delicious was most profitable and York was least profitable.

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