Hay Price Forecasts at the State Level
| dc.creator | Diersen, Matthew A. | |
| dc.date | 2017-04-01T18:08:22Z | |
| dc.date.accessioned | 2026-07-09T04:28:57Z | |
| dc.description | Higher prices for major crops (e.g., corn, soybeans and wheat) have received considerable attention by analysts, researchers, and producers. A common perception is that acres can be readily bid away from other crops to quickly return to equilibrium price levels. Seldom mentioned are crops that do not trade on a national platform. Principal among these crops probably would be hay from alfalfa and grass. A balance sheet model is developed at the state level for South Dakota. As a state with typically large carryover stocks of hay and multiple markets served, South Dakota presents a stark contrast to states with more stable production, supply, and use. Several structural relations and equations are presented to forecast acres, supply, and price through an inverse demand function. A discussion follows on how to update the price forecast as additional information is obtained. Suggestions are also offered on extending the model to other states. | |
| dc.identifier | doi:10.22004/ag.econ.37600 | |
| dc.identifier | https://ageconsearch.umn.edu/record/37600/files/confp05-08.pdf | |
| dc.identifier | http://ageconsearch.umn.edu/record/37600 | |
| dc.identifier.uri | http://hdl.handle.net/123456789/550572 | |
| dc.language | eng | |
| dc.publisher | ||
| dc.source | http://ageconsearch.umn.edu/record/37600 | |
| dc.title | Hay Price Forecasts at the State Level | |
| dc.type | Text |