Master of Agribusiness / Department of Agricultural Economics / Michael D. Tokach / Lone Tree Farms, Inc. is a diversified agricultural enterprise located in Harrisonville, Missouri. Since operations began in 1962, the hog operation has been expanded to the present size of a 2500 sow farrow-to-wean operation. The results of the thesis research lead Lone Tree Farms believes that there are economic and efficiency reasons behind adding to the existing farrow-to-wean operation with a 2500 sow farrow-to-wean operation. The thesis confirms and reveals several points. First, the project takes between 9 months and a year to complete. Some of the inputs required are eight more personnel and an additional 90,000 bushel of feed grain per operating year. Approximately 3,000 gilts are utilized to stock the project and building costs of approximately $3.5 million dollars will be accrued. The total costs of developing the project will be approximately $4.25 to 4.5 million dollars before the first pig is sold (2007 US Dollars). Many risk factors affect the outcome of the project, including risk of high grain prices due to ethanol, labor needs, environmental issues, and manure utilization needs of the project. The spreadsheet model that was developed as part of this thesis reveals that low productivity of the sow herd is the greatest risk factor for the success of the project. Reducing pigs weaned per sow from 11.0 to 8.5 would lower projected return on equity from 32.7. to 7.6% and increase the cost to produce a weaned pig by $8.72/pig. A major change in both corn (over $2.50/bu) and soybean meal (over $200/ton) price would be required for feed cost to have a similar impact on the cost to produce a weaned pig. The start-up and initial production year pose the greatest challenges and risks. After that, production flows should reach more consistency and effectively lower the risk. The initial start-up capitalization of approximately 30% reduces exposure and liquidity risks. The timing of the project should be made when both input expenses and output prices (pig price) are able to be managed. Combined with good management which maximizes pigs/sow weaned, the project stands a very good chance of being considered successful.

Master of Agribusiness / Department of Agricultural Economics / Vincent R. Amanor-Boadu / The Kansas Wheat Commission and the Kansas Association of Wheat Growers offer a number of services to Kansas wheat producers. Kansas wheat producers will be willing to pay more if they perceive they are getting more value from the Kansas wheat organizations. However, Kansas wheat producers are unaware of what the Kansas wheat organizations are doing on their behalf. It is believed that if Kansas wheat producers were more aware of what their organizations were doing on their behalf, they would be willing to contribute more. The overall objective is to improve Kansas wheat producer knowledge of Kansas Wheat activities. A survey of Kansas wheat producers provided data about willingness to pay, importance of services, channel preferences and producer demographics. Funds provided by the Kansas wheat assessment are used for a number of projects and programs. Current programs can be categorized into four areas: research; education, communications, and meetings supporting Kansas wheat growers; domestic market development; and international market development. When asked to rank those four areas from highest to lowest priority, respondents overwhelmingly chose research as the highest priority investment of the Kansas wheat assessment. The survey results indicated that Kansas wheat producers were willing to pay an amount above the current level of 10 mills per bushel for the Kansas wheat assessment. The mean response was 12.42 mills. Members of the Kansas Association of Wheat Growers were willing to pay more for the assessment (15.13 mills per bushel) than non-members. In general, radio is the preferred channel of Kansas wheat producers; however, the two most listed publications and radio stations they rely on for information about wheat were High Plains Journal (33%) and Kansas Farmer (30%), both industry publications. Other producer demographics such as location in the state, type of producer, and acreage also affect producers' willingness to pay.

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