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Price transmission asymmetry for peanuts used in peanut butter was examined using monthly data from 1984 to 1992. Results show an incomplete price passthrough from the wholesale to the retail level. Furthermore, the results indicate that the initial price response of peanut butter price to a reduction in peanut prices occurs later than the response to an increase in peanut prices. The price transmission is asymmetric in the short-run but symmetric in the long-run. © 1995 by John Wiley & Sons, Inc.

A structural probit model is estimated to determine the change in the probability of selecting a milk handler. Cooperatives are thought to have lower prices and higher deductions than independent milk handlers and these factors reduce the probability that a farmer will select a cooperative by 0.39 and 0.32. Cooperatives are thought to have better services and an assured market and payment than independent milk handlers and these factors increase the probability that a farmer will select a cooperative by 0.20 and 0.26. This indicates that many cooperative members value monetary characteristics over non-monetary characteristics.

Japan's import demand for both raw peanuts and processed peanut products was estimated using the Rotterdam model in order to determine the impact of an increase in the Japanese raw peanut quota on peanut imports from the USA and its competitors. The results indicate that if a larger import budget were allocated to raw peanut imports by Japan, most of the increase would be allocated to imports of Chinese raw peanuts. Furthermore, U.S. exports of peanut products could be affected if Japanese expenditures on peanut product imports change as a result of an increase in the quota for raw peanut imports. Thus, this study concludes that an increase in the Japanese import quota for raw peanuts provides only limited market opportunity for U.S. peanut exports, and China appears to benefit more than the USA from an increase in the Japanese raw peanut import quota. In contrast, the value added trade of peanut products could provide a better market opportunity for the U.S. peanut industry.

Survey data of 2,538 dairy farmers located in 12 southern states were used to analyze the factors influencing farmers' degree of satisfaction with the overall performance of milk marketing cooperatives. Results from an ordered probit model indicate that southern dairy farmers perceive cooperatives' ability to hold down operating and marketing costs, to provide higher prices and competent field services, and assure a market for their milk as important attributes of efficient viable cooperatives. Furthermore, the study found that there are significant differences in the degree of satisfaction with the cooperatives among the dairy farmers located in the 12 southern states. © 1993 John Wiley & Sons, Inc.

Survey data of 2,538 dairy farmers located in 12 southern states were used to analyze the factors influencing farmers' choice of milk handlers. Results from a qualitative response model indicate that a combination of price and non-price factors contribute to dairy farmers' attitudes toward their milk handlers. Specifically, the decision to change milk handlers was significantly influenced by prices paid and deductions charged. However, non-price factors including field services, friendly personnel, and loyalty to a handler contributed to the longer term affiliation of dairy farmers with their milk handlers.

The analysis identified factors affecting market participants' attitudes toward selected market alternatives for US shelled peanuts using a mirrorimage survey design and multivariate probit. Agreement or disagreement among shellers, among processors, and between shellers and processors is ascertained via matching patterns of mirror-image profiles. Results indicate that the computerized cash market might hold promise as a starting point in the implementation of a centralized market for shelled peanuts with or without the government program in effect.

It has been conjectured that elimination of the U.S. peanut program would have a profound impact on the supply of fresh produce grown in the peanut producing area of Georgia. Awareness regarding this possibility was brought to bear for two reasons: a) the nature of peanut legislation in 1977 and subsequent years has created a great deal of speculation concerning the possible elimination or phasing out of the program and b) fresh vegetables and fruits produced for the national market and peanuts under the peanut program represent high value crops. (This abstract was borrowed from another version of this item.)

Attitudes of producers and buyers of farmers' stock peanuts toward different market alternatives were analyzed assuming the absence of the government support program. A multivariate probit model was used to ascertain profiles of producers favoring the private treaty market and the proposed organized markets. Results indicate that computerization of the private treaty market might serve as a basis for implementation of an organized market for farmers' stock peanuts.

Considerable controversy exists with regard to pricing agricultural commodities, especially when pricing departs from classical market concepts dependent on equating supply and demand. In a recent study of alternative Class I pricing systems, it was suggested that “pricing of milk and dairy products is one of the major policy issues to be resolved in the 1970s”. A different pricing system in federal milk orders was considered urgent enough that a concentrated study of pricing alternatives was pursued by the U.S. Department of Agriculture.

Dairy farmers in the South have become increasingly interested in gaining a stronger bargaining position in the market arena for the purpose of obtaining a more favorable price for their milk. They have implemented this objective by organizing cooperative associations. Cooperative bargaining relationships have been of three types (1) bargaining between seller and buyer (bilateral competition), (2) bargaining between sellers or bargaining between buyers (interfirm competition), and (3) bargaining in or through the political economy.

Recycling can recover the value of solid waste materials. Recycling reduces solid wastes, conserves virgin materials, and preserves and improves environmental quality. Ideally, it has been stated that “what we must aim for essentially is a steady-state world, one in which per capita consumption has virtually leveled off and the goods used are for the most part produced from recycled materials” [6]. Trends in recycling, however, are not encouraging, and, in fact, resource recovery is losing ground [3, 7].Currently, recycling is largely that of relatively homogeneous waste materials. The Council on Environmental Quality has identified over 50 systems in various stages of development aimed primarily at the technology of recovering materials from mixed wastes [7].