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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