Dean Mccorkle

Texas A&M University | TAMU · Department of Agricultural Economics

The COVID-19 pandemic affected the economic status of all sectors of the global economy including the horse show industry. Reporting the impact of COVID-19 on in-person horse shows and an early assessment of its impact on the economy was the objective of this study. A Qualtrics survey instrument was disseminated to horse show participants through s...

The economic effects of the COVID-19 pandemic have diffused across all sectors of the global economy. Reporting the reduction of in person horse shows and an early assessment of its impact on the economy was the objective of this study. The survey instrument was disseminated to horse show participants through web-based modes and email. A Qualtrics...

The COVID-19 pandemic has been cause for major adjustments in the equine industry, including rescheduling, redesigning, and cancellation of horse shows. Although many changes have presented challenges and undue burden on horse owners and businesses, virtual horse showing has provided increased opportunities to show. The objectives of this study are...

The motivation for this study centres on the labour-and cost-intensive nature of wine grape production and the potential opportunities for robotic technology. The objectives of this study are to develop cost of production budgets for five representative wine grape vineyards in four US states, assess the economic viability of wine grape production u...

Hunting is an important source of economic activity for rural South Texas. However, little is known about the economic impacts associated with landowner expenses. Questionnaires were mailed to landowners across the South Texas region to collect expense data related to managing hunting operations. The data included expense information on 248 ranches...

Impacts of alternative agricultural water conservation strategies are being evaluated in the Texas Panhandle. Stakeholders have expressed concern that all effects need to be accounted for including the regional economy. A methodology was developed to evaluate the effects on the backward and forward-linked processing sectors and differentiated resul...

Giant reed, Arundo donax L., is a large, bamboo-like plant native to the Mediterranean region. It has invaded several thousand hectares of the Rio Grande riparian habitat in Texas and Mexico. The United States Department of Agriculture-Agricultural Research Service (USDA-ARS) is investigating four herbivore insects as potential biological control a...

Research shows that risk management, and in particular price risk management, has been a major concern for agricultural producers, and as such, has been the target area of a substantial amount of Extension education programming. Analysis of survey results indicate that the Master Marketer program, a 64-hour intensive training program that develops...

4 pp. People--human capital--are an important resource in making a farm or ranch business more competitive in today's business environment. This publication summarizes the ideas about modern personnel management that illustrate ways to attain a farm's or ranch's business goals through its people.

4 pp. Employee compensation is important to successful employee recruitment, retention, motivation, performance, feedback and satisfaction. This publication explains the many alternatives employers have for creating compensation packages.

Arundo donax is a large, invasive weed consuming large quantities of water in the riparian area of the Texas Rio Grande Basin. With water availability a concern to the area, the USDA-ARS is investigating biological control agents to increase available water, creating a benefit to both the region’s economy and society in general.

A recent study by Ernst and Young concluded that recruiting and retaining key personnel is the single largest concern of the 400 fastest growing companies in the country. Is your farm one of those 400? Probably not. Should agricultural managers be concerned about finding and keeping high quality employees? You bet. Successful managers have learned...

4 pp. Developing a good marketing plan will help you identify and quantify costs, set price goals, determine potential price outlook, examine production and price risk, and develop a strategy for marketing your crop. This publication describes the importance of a written plan, the components of a marketing plan, and information on evaluating the pl...

4 pp. A cash flow statement is simply a record of the dollars coming in and the dollars going out of a business. This publication briefly discusses cash flow and gives a cash flow projection for operating loan determination.

4 pp. Credit is a requirement for farming and ranching enterprises. Nowadays, lending institutions are requiring more and better information about enterprises before credit will be extended. This is a guide to the documentation you will need for a loan package.

4 pp.,1 table Without budgeting, family living expenses may exceed the available income and jeopardize the overall financial goals of the farm and family. This publication offers information on developing a family budget and provides an example of a monthly average family living budget.

Substantial progress has been made in eradicating the boll weevil from the majority of the cotton producing regions in Texas. While the full economic benefits will not be realized until eradication is achieved statewide, economic benefits approaching $1 billion have already been realized.

4 pp. Producers who wish to trade futures or options contracts will need to work with a broker. These tips can help in selecting a broker and in forging a good working relationship.

4 pp., 6 tables This publication explains the differences between cash and accrual accounting and suggests how farmers and ranchers can get the best of both accounting systems. There are sample income statements and a table to illustrate the adjustment of cash basis records to approximate accrual basis records.

This paper provides a comparison of successful and financially distressed producers based on the data from more than 400 individualized financial analyses. These objective variables are combined with subjective observations of management styles and attitudes to provide unique identification of the factors most influential in the success of Texas pr...

The 2002 Farm Bill provided the one time opportunity to update base acres and counter-cyclical payment yields to more closely reflect their current crops, rotations and yield levels. This paper discusses the available options and provides case study examples to illustrate the complexity of this decision.

The 1996 and 2002 farm bills moved government support toward decoupled tools rather than support coupled to production and/or prices. This paper analyzes whether areas with more production risk would prefer decoupled or coupled support. The results indicate areas with more yield risk would prefer decoupled payments and vice versa.

Several support programs have been developed to help support, reinforce, enhance, and improve the effectiveness of the educational experience of Master Marketer graduates and other marketing club participants. One of those products, the Master Marketer Newsletter, is currently mailed to over 700 Master Marketer graduates and Extension faculty on a...

Mathematical programming-based systems analysis is used to examine the consequences of alternative operation configuration for the agricultural operations within the Texas Department of Criminal Justice. Continuation versus elimination of the total operation as well as individual operating departments are considered. Methodology includes a firm sys...

3 pp., 1 table Niche markets are small, specialized markets for goods or services. Agricultural producers have many opportunities for niche marketing, and this strategy can contribute to the profitability of a firm. Examples of niche markets are included in this publication, along with ideas for getting started.

4 pp., 4 figures Put options are a pricing tool with considerable flexibility for managing price risk. This publication discusses some put option basics, how put options work and how to use them.

4 pp., 1 figure, 1 table Basic Formula Price (BFP) milk futures and options can be used to hedge, or lock in, milk prices in order to manage milk price fluctuations. This publication offers information on futures contracts, basis, cash settlement and margin call. There also is a hedging example.

4 pp. As U.S. government support to agriculture declines, understanding the economic impacts of agricultural trade and how markets and competition are affected will take on added importance for farmers, agribusinesses, policy makers, and agricultural leaders. This publication discusses why there is international trade, the fallacy of lost jobs and...

4 pp., 5 figures, 1 table The window strategy is one of several marketing strategies using futures and options to establish a floor price and allow for upside price potential. It also reduces option premium costs. This publication discusses how the window strategy works and when to use it.

An optimization model is used to evaluate the economics of various components of a large agribusiness. The benefits of using interger programming are contrasted to traditional linear programming analysis in conjunction with outside-the-model budgeting analysis.

Problem and Research Objectives Arundo donax, or giant reed, is a large, bamboo-like plant that is native to Spain and is thriving in the Mediterranean climate of the Rio Grande (River) in Texas (Goolsby and Moran 2009). It grows 6-8 meters (18-24 feet) tall (Bell 1997), consumes large quantities of water (exceeding four acre-feet per year) (Iverso...

The purposes of the study were to measure change in knowledge, adoption of practices, and economic impact, and to investigate relationships between selected personal and business parameters, and satisfaction, knowledge, adoption of practices, and economic impact of the Master Marketer program and marketing clubs. A census was attempted to collect d...

4 pp., 3 tables, 2 figures A call option is a pricing tool that helps producers manage the price risks associated with farm and ranch inputs. This publication offers a thorough explanation of the way call options work. It includes various strategies producers might use and illustrations of those strategies.

4 pp. A good manager invests time in careful planning, which includes developing a vision and a mission statement to guide the business enterprise. This publications discusses management of finances, people, equipment and land resources.

4 pp., 3 figures This publication discussess several management functions, including organization, staffing and direction and control. Suggested activities help managers learn how to implement these functions in their farm and ranch businesses.

4 pp., 2 tables, 1 chart Grain contracts can help farmers manage the increasing risks of production and the price volatility of the market. This publication explains grain contracts and how to use them wisely as a risk management tool.

4 pp. SPA is a tool for determining the production and financial performance of an individual cow-calf enterprise. It allows producers to compare production systems, identify areas that need to be changed and measure progress toward meeting business objectives. This publication details the information requirements of SPA and explains how producers...

2 pp., 1 table Enterprise budgets can help farmers and ranchers make better decisions about what products to produce and how to produce them economically. This publication tells how to create and use enterprise budgets and includes an example.

4 pp., 1 diagram A business plan is a road map for success. It describes a firm's organizational structure, products and services, objectives, financial and marketing plans, strengths and weaknesses. This publication guides business owners in developing plans that can help them make decisions and sell the feasibility of their businesses to bankers...

4 pp., 2 figures, 2 tables International markets are important for many U.S. farm products and greatly affect U.S. agriculture. This publication discusses the causes of import change, the export product mix, major markets, and markets of the future.

4 pp., 3 tables Equipment leasing has gained favor with farmers and ranchers in recent years. This publication discusses how to determine lease cost and analyzes lease vs. purchase options. An example of such an analysis is included.

4 pp. The marketing time frame for crops can be divided into three parts--pre-harvest, harvest and post-harvest. This publication focuses on the more common post-harvest marketing strategies using forward contracts, storage, futures contracts, options and various combinations of these tools.

4 pp. This publication lists and defines many financial and economic terms with which producers should be familiar.

4 pp. This publication defines many of the marketing terms producers may encounter.