THE RAINFALL INDEX ANNUAL FORAGE PILOT PROGRAM AS A RISK MANAGEMENT TOOL FOR COOL-SEASON FORAGE

THE RAINFALL INDEX ANNUAL FORAGE PILOT PROGRAM AS A RISK MANAGEMENT TOOL FOR COOL-SEASON FORAGE

The recently implemented Rainfall Index Annual Forage pilot program aims to provide risk coverage for annual forage producers in select states through the use of area rainfall indices as a proxy for yield. This article utilizes unique data from a long-term study of annual ryegrass production with ra...

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Veröffentlicht in:Journal of agricultural and applied economics 2016-02, Vol.48 (1), p.29-51
Hauptverfasser: MAPLES, JOSHUA G., BRORSEN, B. WADE, BIERMACHER, JON T.
Format: Artikel
Sprache:eng
Schlagworte:
Adverse selection
Agricultural production
Agriculture
Crop insurance
Feeds
Insurance coverage
Livestock
Moral hazard
Pilot projects
Precipitation
Rain
Rainfall index
Risk management
Seasons
Wheat
Winter
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Zusammenfassung:The recently implemented Rainfall Index Annual Forage pilot program aims to provide risk coverage for annual forage producers in select states through the use of area rainfall indices as a proxy for yield. This article utilizes unique data from a long-term study of annual ryegrass production with rainfall recorded at the site to determine whether the use of rainfall indices provides adequate coverage for annual forage growers. The rainfall index is highly correlated with actual rainfall. However, it does not provide much yield loss risk protection for our cool-season forage data.
ISSN:1074-0708
2056-7405
DOI:10.1017/aae.2016.3