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Alfalfa Hay Quality and Alternative Pricing Systems

Published online by Cambridge University Press:  28 April 2015

Jared A. Hopper ,
Hikaru Hanawa Peterson  and
Robert O. Burton Jr.
Jared A. Hopper
Affiliation:
Department of Agricultural Economics, and graduate research assistant, Department of Entomology, Kansas State University, Manhattan, KS
Hikaru Hanawa Peterson
Affiliation:
Department of Agricultural Economics, and graduate research assistant, Department of Entomology, Kansas State University, Manhattan, KS
Robert O. Burton Jr.
Affiliation:
Department of Agricultural Economics, Kansas State University, Manhattan, KS
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Abstract

Price-quality relationships for alfalfa hay were analyzed by hedonic pricing models using 1996-2001 Wisconsin auction data. Individual nutrients included in the analysis all affected alfalfa price, with acid detergent fiber accounting for the largest impact. Alternative pricing models, based on an aggregate quality index or detailed quality information, were similar in their ability to predict price. However, disaggregating price predictions to account for differences in relative feed value (RFV) and crude protein (CP) indicate that both RFV and CP are important determinants of price and that aggregating the two into a quality index is not warranted.

Keywords

aggregate indexalfalfaauction datahedonic pricing modelsqualityQ11
Type
Articles
Information
Journal of Agricultural and Applied Economics , Volume 36 , Issue 3 , December 2004 , pp. 675 - 690
Copyright
Copyright © Southern Agricultural Economics Association 2004

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