Date of Award:
Master of Science (MS)
We evaluate the historically optimal producer-selected coverage options comprised of coverage length and level for each marketing month for various types of livestock insured with Livestock Risk Protection insurance. We begin with feeder cattle steers (600-900lbs) and then analyze the other types of feeder cattle, followed by fed cattle and swine. The optimal contracts are identified as those that have historically provided the highest probability of a positive net return and the highest average net return. We find that regardless of marketing month, the optimal contracts consist of relatively high coverage levels whereas the optimal length of the contracts varies across marketing months and by livestock type. The results are compared against actual policies purchased to evaluate whether producer decision patterns are in line with the current findings.
Haviland, Logan B., "Livestock Risk Protection: An Analysis of Coverage Length and Level to Determine Optimal Contract Selection" (2023). All Graduate Theses and Dissertations, Spring 1920 to Summer 2023. 8747.
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