Change in woolgrower profits from adopting staple strength-enhancing management strategies

Templeton, D., Griffith, G., Piggott, R. and O'Donnell, C. J. (2005) Change in woolgrower profits from adopting staple strength-enhancing management strategies. International Journal of Sheep and Wool Science, 53 1: 1-23.


Author Templeton, D.
Griffith, G.
Piggott, R.
O'Donnell, C. J.
Title Change in woolgrower profits from adopting staple strength-enhancing management strategies
Journal name International Journal of Sheep and Wool Science
ISSN 1832-8679
Publication date 2005
Sub-type Article (original research)
Volume 53
Issue 1
Start page 1
End page 23
Total pages 23
Editor D. Cottle
Place of publication Armidale, Australia
Publisher University of New England
Collection year 2005
Language eng
Subject C1
340201 Agricultural Economics
340202 Environment and Resource Economics
720404 Productivity
Abstract Wool tenderness is a significant problem in Australia, especially in areas where sheep graze under highly seasonal conditions. In this study, a profit function model is specified, estimated and simulated to assess the economic impact of staple strength-enhancing research on the profits of Australian woolgrowers. The model is based on a number of fundamental characteristics of the Australian wool industry and the staple-strength enhancing technology being assessed. The model consists of a system of demand and supply equations that are specified in terms of effective, rather than actual, prices. The interrelationships between the inputs and outputs are allowed for in the model in a manner that is consistent with theoretical restrictions. The adoption of the new feed management strategy results in a 4.4% increase in the expected profits of Australian wool producers in the short-run, and a 2.2% increase in expected profits in the long-run.
Q-Index Code C1

Document type: Journal Article
Sub-type: Article (original research)
Collections: Excellence in Research Australia (ERA) - Collection
2006 Higher Education Research Data Collection
School of Economics Publications
 
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Created: Wed, 15 Aug 2007, 07:14:24 EST