Open access
Datum
2020-03Typ
- Journal Article
ETH Bibliographie
yes
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Abstract
Droughts represent a severe and increasing risk for the livestock sector as they can reduce yields of hay and feed grain. Droughts are predicted to increase in frequency and magnitude under climate change. Here we estimate the so far unexplored effect of drought shocks on feed prices. We use an empirical example from Germany and focus on the prices of hay as well as feed wheat and barley. Our results show that regional and national droughts substantially increase hay prices by up to 15%, starting with a delay of about 3 months and lasting for about a year. In contrast, feed grain prices in our sample are not affected by regional or national droughts. These price responses can be linked to market integration, as the hay market is usually regionally organized while feed grains are traded transnationally. It is important to include this knowledge into farm management and policy actions, especially considering climate change Mehr anzeigen
Persistenter Link
https://doi.org/10.3929/ethz-b-000388612Publikationsstatus
publishedExterne Links
Zeitschrift / Serie
Environmental Research LettersBand
Seiten / Artikelnummer
Verlag
The Electrochemical SocietyThema
Hay prices; Feed grain prices; Droughts; market integration; Weather extremes; Market integrationOrganisationseinheit
09564 - Finger, Robert / Finger, Robert
03648 - Buchmann, Nina / Buchmann, Nina
Zugehörige Publikationen und Daten
Is supplemented by: https://doi.org/10.3929/ethz-b-000385361
ETH Bibliographie
yes
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