Production and Farm Management
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Browsing Production and Farm Management by Subject "Colorado"
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Item Open Access 2012 drought in Colorado: estimates of foregone revenues, indirect and induced economic activity for the crop sector(Colorado State University. Libraries, 2013-08) Goemans, Christopher, author; Pritchett, James, author; Nelson, Ron, author; Colorado State University, Department of Agricultural and Resource Economics, publisherPrecipitation, whether realized as rain showers during the growing season or stored as snowmelt in reservoirs, is critical for crop and pasture production in Colorado. Drought is the persistent absence of precipitation, and this lack of moisture results in reduced yields, fewer harvested acres and less forage for livestock. Since October of 2010, extreme drought has plagued agricultural producers throughout much of Southern Colorado, and in May of 2012 the drought advanced to encompass the entire state. Agriculture is absorbing faced with economic hardship and drought impacts statewide. The primary objective of this research is to describe and quantify the broader economic impacts of the drought on agricultural productivity and allied economic activity in Colorado. The scope of the analysis takes three forms: a description of agricultural production and prices received for important Colorado crops; calculation of actual 2012 crop revenues juxtaposed against what might have been received if harvested acres and yields were consistent with historical averages; and a broader estimate of the drought's economic impact by accounting for reduced input purchases and wages spent locally.Item Open Access Adaptations to drought: evidence from ag producer survey(Colorado State University. Libraries, 2013-07) Pritchett, James, author; Goemans, Christopher, author; Nelson, Ron, author; Colorado State University, Department of Agricultural and Resource Economics, publisherColorado's ongoing drought is in its significant geographic reach and economic impacts. For Ncondition, reduces cow condition and leads to difficulty in locating critical feed inputs. These production losses generally reduce revenues although declining receipts may be partially offset by higher prices. Yet, the drought's impacts to the farm or ranch business are not contained within a single season. Much like reservoir levels that are drawn down and may take years to replenish, the impact of a drought can reduce a farm or ranch's equity position making it difficult to service debt or take advantage of future investment opportunities. Equity erosion may take years to rebuild. In this article, recent drought survey responses are described in order to characterize the potential longer term impacts of drought. Emphasis is placed on production losses and producers' mitigating actions. While it is difficult to forecast the length of the recovery period for Colorado farmers and ranchers, their adaptations and changing production activities in 2012 do indicate the severity and persistence of financial stress.Item Open Access Farmer resiliency under drought conditons(Colorado State University. Libraries, 2013-07) Nelson, Ron, author; Goemans, Christopher, author; Pritchett, James, author; Colorado State University, Department of Agricultural and Resource Economics, publisherColoradoans continue to experience severe drought conditions resulting in significant economic losses. The ongoing drought has led to widespread crop failures, damaged rangelands and reduced livestock productivity. The drought's financial impacts will be felt by agricultural producers for years to come and may threaten the long-term economic viability of some agricultural operations. Nearly all operations are less resilient to future shocks when compared to conditions before the drought. The purpose of this document is to shed light on some aspects of Colorado agricultural operations' lost resiliency.