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Phone: (307) 766-5124

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University of Wyoming Extension

 

Publications - Details

Managing your ranch during drought: Implications from long and short-run analyses

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Publication #: B-1205
Date Published: 05/01/2010

Publication Author(s):
John P. Ritten
Christopher T. Bastian
W. Marshall Frasier
etal

Description:
In this analysis, we examine the economic consequences of the two most common drought management strategies utilized by Wyoming producers according to survey results reported in Nagler et al. (2006) purchasing additional feed and partial herd liquidation. We analyze different combinations of drought and price cycles to determine how these strategies will perform across differing situations. Specific attention is given to long-run and short-run outcomes and the important considerations for producers thinking about implementing these strategies. We hope to answer whether it is better to 1) liquidate animals and increase current revenues at the potential expense of increasing herd sizes in the future, or 2) maintain larger herd sizes and increase current costs while decreasing the need for future expenses related to restocking by utilizing purchased feed to address forage shortages during periods of drought.


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University of Wyoming Extension

Department #3354

1000 E. University Ave.

Laramie, WY 82071

Phone: (307) 766-5124

Email: glen@uwyo.edu

Find us on Facebook (Link opens a new window) Find us on Twitter (Link opens a new window) Find us on YouTube (Link opens a new window) Find us on Pinterest (Link opens a new window)

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