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Table 1 Summary statistics

From: Can insurance provide the US dairy farm safety net?

Variable Description All respondents Respondents who had used risk management Respondents who had not used risk management
   Mean (Standard deviation)
Herd size milk cows 360 (1,018) 713 (1,529) 167 (475)
Acres operated acres 652 (3,004) 846 (1,270) 371 (444)
Operator age years 51.0 (12.7) 50.6 (11.2) 51.2 (13.5)
Operator education years 12.66 (2.20) 13.59 (2.22) 12.18 (2.04)
Sole proprietors % yes 67.6 (49.7) 48.3 (50.1) 77.1 (42.1)
Dairy coop member % yes 78.7 (41.7) 74.8 (43.5) 80.8 (40.6)
Milk/cow lbs. milk/cow/year 20,940 (5,109) 23,459 (4,413) 19,229 (4,847)
Purchased feed % of feed purchased 32.1 (24.8) 36.1 (26.5) 30.0 (23.7)
Solvency risk debt to asset ratio (%) 26.3 (21.5) 29.1 (18.9) 24.8 (22.7)
Number of respondents   662 223 439