Martin, Steven W.

By: Walton, Jonathan C.; Lambert, Dayton M.; Roberts, Roland K.; Larson, James A.; English, Burton C.; Larkin, Sherry L.; Martin, Steven W.; Marra, Michele C.; Paxton, Kenneth W.; Reeves, Jeanne M.
Adoption of precision agriculture technology has arrived considerable attention, but abandonment has received little. This paper identified factors motivating adoption and abandonment of precision soils sampling in cotton. Younger producers who farmed more cotton area, owned more of their cropland, planted more non-cotton area, or used a computer were more likely to adopt precision soil sampling. Those with more cotton area or who owned livestock were more likely to abandon, while those who used precision soil sampling longer, or used variable-rate fertilizer application were less likely to abandon precision soil sampling.
By: Martin, Steven W.; Barnett, Barry J.; Coble, Keith H.
Production agriculture and agribusiness are exposed to many weather-related risks. Recent years have seen the emergence of an increased interest in weather-based derivatives as mechanisms for sharing risks due to weather phenomena. In this study, a unique precipitation derivative is proposed that allows the purchaser to specify the parameters of the idemnity function. Pricing methods are presented in the context of a cotton harvest example from Mississippi. Our findings show a potential for weather derivatives to serve niche markets within U.S. agriculture.