SOUTHERN JOURNAL OF AGRICULTURAL ECONOMICS DECEMBER 1991 INCORPORATING THE IMPACTS OF UNCERTAIN FIELDWORK TIME ON WHOLE-FARM RISK-RETURN LEVELS: A TARGET MOTAD APPROACH

Abstract tions. However, because of limited equipment, planting may be spread over several days or weeks.Given an equipment complement, a specific crop mix has a probability distribution for whole-farm net In addition, the harvestable yield on many crops returns. Increasing crop acreage while holding the may be sensitive to the timing of harvest. Harvesting set of equipment constant will reduce fixed costs per the crop too early or too late could result in decreased acre, but it will also increase the length of time yields. Early or delayed harvesting could also lower required to complete crucial field operations such as crop quality resulting in reduced market prices. As planting and harvesting. Thus, the probability of with planting, farmers harvest their crops over sev-encountering weather-related delays in fieldwork eral days or weeks. More harvesting equipment per will increase. This increase in delays may cause a acre can increase the speed of the harvest operation, decline in yields and changes in the distribution of but only at an increase in cost per acre. Adverse net returns. This paper develops a Target MOTAD weather can delay the harvest operation, often re-model capable of capturing intra-year impacts on suiting in lower yields. Excessive rainfall and wind profit that arise from the timing of planting and can cause lint'weight and quality losses on cotton harvesting operations as well as inter-year impacts and weight loss on grains due to stalk damage. Also