VITA
NAME— Emmett Elam
Department of Agricultural and Applied Economics, MS 2132
Texas Tech University
Lubbock, Texas 79409
806+742-2023, ext. 243 (phone); 806+742-1099 (fax); email, emmett.elam@ttu.edu
EDUCATION—Ph.D. in Agricultural Economics, Department of Agricultural Economics,
University of Illinois, 1978. M.S. in Statistics, Department of Mathematics, Univ. of Memphis,
1970. B.B.A. in Economics, Department of Economics, Univ. of Memphis, 1969.
PROFESSIONAL POSITIONS—Associate Professor, Texas Tech University, 1987-present;
Assistant Professor, University of Arkansas, 1980-87; Research Associate, University of Illinois,
1978-79.
ADMINISTRATION—Undergraduate Coordinator, Dept. of Agricultural and Applied
Economics, TTU, 1999-present.
COURSES TAUGHT—Courses taught at Texas Tech University:
Seminar (AAEC 3300)—Review of microeconomics and statistics, assigned readings, informal
discussion, guest speakers, and written and oral reports on subjects relating to agricultural and
applied economics.
Agricultural Statistics (AAEC 3401)—Principles and procedures involved in the analysis of
agricultural data including indices of central tendency and dispersion; probability; sampling;
significance tests; analysis of variance; and simple linear correlation.
Agricultural Economics Methodology for Research and Management (AAEC 4300)—
Introduction to conceptual issues for research, applications of designing, planning, and
conducting economic research.
Commodity Futures Trading and Analysis (AAEC 4317)—History and characteristics of
commodity futures markets, mechanics of trading, hedging and speculation, use of futures as a
business management tool, and analytical techniques involved in hedging and trading.
Advanced Statistical Methods in Economic Research (AAEC 5307)—Advanced statistical
methods including multiple regression analysis for applied economic problems; emphasis on
multicollinearity, autocorrelation, heteroscedasticity, related problems.
Applied Econometric Methods (AAEC 5311)—Methods and applications of single and
multiple equation models in agricultural economics; logit and probit models; nonstructural
models and related methods.
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Financial and Agricultural Futures and Options (AAEC 5317)—Mechanics of futures
trading, history and functions of futures markets. Role of futures and options markets in
managing risks.
Other courses taught: macro economic principles and agricultural commodity price analysis.
GRADUATE STUDENTS DIRECTED—70 graduate committees; major advisor for 22
graduate students:
Bobby Williams, M.S. in Agricultural Economics, Univ. of Arkansas, 1980. Thesis title: "The
Broiler Industry's Response to Profitability.”
Lee Earhart, M.S. in Agricultural Economics, Univ. of Arkansas, 1981. Thesis title: "The
Import Demand for Rice in Cuba.”
Ron Burnett, M.S. in Agricultural Economics, Univ. of Arkansas, 1981. Research Paper title:
"A Study of the Seasonal Variation in the Price of Arkansas Livestock and Livestock Products.”
Neal Alexander, M.S. in Agricultural Economics, Univ. of Arkansas, 1983. Research Paper title:
"An Investigation Into Why the Futures Market for Broilers Was Unsuccessful.”
Ron Stanley, M.S. in Agricultural Economics, Univ. of Arkansas. 1983. Research Paper title:
"A Spatial Analysis of Prices for Arkansas Feeder Pigs in Local Versus Midwestern Markets.”
Tom White, M.S. in Agricultural Economics, Univ. of Arkansas, 1985. Thesis title: "Selective
Hedging Strategies for Marketing Feeder Cattle in Arkansas.”
Daniel Vaught, M.S. in Agricultural Economics, Univ. of Arkansas, 1986. Thesis title: "MeanVariance Efficiency of a Portfolio of Commodity Futures Contracts.”
Steve Thompson, M.S. in Agricultural Economics, Univ. of Arkansas, 1987. Thesis title:
Hedging Fort Smith Feeder Cattle.”
Brett Hall, M.S. in Ag. Econ., TTU, 1989. Thesis title: “Risk and Return in Texas High Plains
Custom Cattle Feeding.”
John Smith, M.S. in Ag. Econ., TTU, 1991. Research paper title: “Pricing Inefficiency in
Soybean Futures.”
Stephen Njukia, M.S. in Ag. Econ., TTU, Aug. 1993. Thesis title: “Risk Premium in Live Cattle
Futures.”
Shane Faught, Master of Agriculture, TTU, Dec. 1993.
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Chaw Wayoopagtr, Ph.D. in Ag. Econ., TTU, May 1995. Thesis title: “Pricing Efficiency in the
U.S. Hog Futures Markets.”
Preston Snoga, M.S. Ag. Econ., TTU, Dec. 1995. Research paper title: “An Empirical Analysis
of Spatial Price Relationships in Texas Feeder Cattle Markets.”
Mario Lopez, M.S. Ag. Econ., TTU, Aug. 1996. Thesis title: “Selection of Cotton Varieties in
the State of Texas Using Lint and Seed Components.”
Mark Castleberry, M.S. Ag. & Appl. Econ., TTU, Dec. 1998. Thesis title: “Economics of
Cotton Gin Waste as a Roughage Ingredient in Beef Feedlot Rations on the Texas High Plains.”
Ronald Mutai, M.S. Ag. & Appl. Econ., TTU, May 2002. Thesis title: “Economic Analysis of
Outdoor Pig Production in the Texas High Plains.”
Steve White, Master of Agriculture, AAEC, TTU, May 2003.
Gary Gregory, Master of Agriculture, AAEC, TTU, Dec. 2004.
Jevon Cheuvront, Master of Agriculture, AAEC, TTU, May 2005.
Tomas Resendiz, Master of Agriculture, AAEC, TTU, May 2013.
Andrea Stigarll, M.S. Ag. & Appl. Econ., TTU. Thesis title: “Hedonic Analysis of Curb Appeal
Characteristics for Lubbock, in progress.
RESEARCH AREAS—Include price analysis, marketing, futures markets and price risk
management, value-added processing, cotton variety selection, and economics of livestock
production and marketing.
RESEARCH AND GRANT SUPPORT
Livestock projects:
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Marketing efficiency of feeder pig auctions, USDA, AMS, 1980-81, $22,000.
Impact of forward contracting on fed cattle prices, Texas Cattle Feeders Assoc., July 89April 90, $3,000.
Returns from custom cattle feeding, Res. Food and Fiber Prod., TTU, $10, 335.
Low-input, high-output sustainable pork production, USDA Fund for Rural America, Sept.
97-Aug. 2001, $95,440—with Dr. John McGlone and Dr. Mark Miller, An. Sci. & Food
Technology, TTU, and Dr. Vivien Allen, Plant & Soil Sci. Dept., TTU.
Development and implementation of a value added beefsteak product, State of Texas and
Texas T-bone Express, Sept. 99-Aug. 2000, $11,000—with Dr. Mark Miller, An. Sci.
Dept., TTU.
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Value-added cotton products for animal feed, College of Ag. Sci. & Nat. Res., Research
Enhancement Program, Sept. 99-Aug. 2001, $20,000—with Dr. Reed Richardson and Dr.
Sam Jackson, An. Sci. Dept., TTU, Dr. Carlos Villalobos, Range, Wildlife & Fisheries
Mgt. Dept., TTU, and Jacqui Lockaby, Ag. Ed. & Comm. Dept., TTU.
Cotton/cottonseed projects:
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Effect of changing cottonseed index on cottonseed grade and price, National Cottonseed
Prod. Assoc., Sept. 93-June 93, $3,911.
Computer program for cotton variety selection based on the lint and seed components, The
Cotton Foundations, July 94-June 99, $24,600.
Utilization/disposal of cotton gin trash and demand for cotton gin trash in cattle feedlot
rations, State of Texas, Sept. 96-Aug. 98, $42,000.
Pricing efficiency of the cotton futures market, Texas State Support Committee and Cotton,
Inc., 1999, $6,720.
Further development of the Cotton Wizard, a cotton/cottonseed variety selection program,
Cotton, Inc., 1999-2006, $190,500.
PUBLICATIONS—25 journal articles, 5 research bulletins, 15 published proceedings papers, 2
USDA publications, 18 technical articles, 13 other papers, 2 software applications, 26 abstracts
of presentations, 1 poster presentation, and 18 other presentations (not listed under abstracts).
Journal Articles (25)
Elam, Emmett, and Shelby Holder. "An Evaluation of the Rice Outlook and Situation Price
Forecasts." Southern J. of Agricultural Economics, 17(1985): 155-61.
Elam, Emmett, and Shelby Holder. "The Rice Outlook and Situation Price Forecasts: An
Evaluation of Forecast Accuracy and Use in a Selective Storage Program." Mid-South Business
Journal, 5(1985): 15-17.
Elam, Emmett, Steve Miller, and Shelby Holder. "Simple and Multiple Cross-Hedging of Rice
Bran." Southern J. of Agricultural Economics, 18(1986): 123-28.
Elam, Emmett, and Ed Fryar. "Profits from Long Term Pricing Inaccuracy in Soybean Futures."
J. of Business and Economic Perspectives, 12(1986): 5-12.
Elam, Emmett. "Can Hedging Risk be Reduced for Arkansas Elevators and Processors with a
Gulf Soybean Futures Contract?" Arkansas Business and Economic Review, 19(1986): 1-6.
Elam, Emmett. "Hedging Risk Using Price Change and Price Level Regression." J. of
Economics, 12(1986): 132-35.
Elam, Emmett, and Dan Vaught. "Risk and Return in Cattle and Hog Futures." J. of Futures
Markets, 8(1988): 79-87.
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Elam, Emmett, and Bruce Dixon. "Examining the Validity of a Test of Futures Market
Efficiency." J. of Futures Markets, 8(1988): 365-72.
Elam, Emmett. "Estimated Hedging Risk for Cash Settlement Versus Delivery Feeder Cattle
Futures." Western J. of Agricultural Economics, 13(1988): 45-52.
Elam, Emmett, and John Woodworth. "Forward Selling Soybeans with Cash Forward Contracts,
Futures Contracts, and Options." Arkansas Business and Economic Review, 22(1989): 10-20.
Davis, James, and Emmett Elam. "Hedging Feeder Cattle in the Texas Panhandle." Texas J. of
Agriculture and Natural Resources, 4(1990): 2-8.
Elam, Emmett, and John Smith. "The Impact of a Grain Sorghum Futures Market on Hedging
Risk for Texas Grain Sorghum." Texas J. of Agriculture and Natural Resources, 4(1990): 53-56.
Elam, Emmett, and Dan Vaught. "Using a Technical Trading Strategy to Test for Pricing
Efficiency of Commodity Futures Markets." J. of Business and Economic Perspectives,
16(1990): 29-33.
Elam, Emmett, and James Davis. "Hedging Risk for Feeder Cattle with a Traditional Hedge
Compared to a Ratio Hedge." Southern J. of Agricultural Economics, 10(1990): 209-16.
Elam, Emmett. "Reduction in Hedging Risk from Adjusting for Autocorrelation in the Residuals
of a Price Level Regression." J. of Futures Markets, 11(1991): 371-84.
Elam, Emmett, and Chaw Wayoopagtr. "A Re-Examination of the Systematic Downward Bias
in Live Cattle Futures Prices." J. of Futures Markets, 12,3 (1992): 329-338.
Elam, Emmett. "Cash Forward Contracting vs. Hedging of Fed Cattle and the Impact of Cash
Contracting on Cash Prices." J. of Agricultural and Resource Economics, 17,1(1992): 205-217.
Dodson, Charles, and Emmett Elam. "Returns to Custom Cattle Feeding," J. of Agribusiness, 10
(1992): 3-18.
Elam, Emmett, and Wade Donnell. "Cross Hedging Cattle Rations Using Corn Futures," Texas
J. of Agr. and Natural Resources, 5 (1992): 7-14.
Sudduth, C.W., R.T. Ervin, and E.W. Elam. "Factors Affecting the Sale of and Returns to
Investment in CRP Enrolled Lands on the Southern High Plains of Texas," J. of Soil and Water
Conservation, 48,2 (1993): 151-54.
Elam, Emmett and Stephen Njukia. "The Cost to Hedge Fed Cattle Using Live Cattle Futures,
and the Returns from Hedged Cattle Feeding." J. of Amer. Soc. of Farm Mgrs. and Rur. App., 58
(1994): 72-78.
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Hudson, Darren, Don Ethridge, Jeff Brown, and Emmett Elam. "Price Information in Producer
Markets: An Evaluation of Futures and Spot Cotton Price Relationships in the Southwest Region
Using Cointegration." Agribusiness: An International Journal, 12,4(1996): 363-69.
Beddow, Jason, Emmett Elam, and Mario Lopez. “The Cotton Wizard: A Quantitative Decision
Tool for Cotton Variety Selection.” Cotton Ginning Journal, (1997-98): 48-53. Also published
in 1997 Proc. Beltwide Cotton Conferences, Natl. Cotton Council, Memphis, TN, pp. 1585-89.
Stigarll, Andrea, and Emmett Elam. “Impact of Improved Landscape Quality and Tree Cover on
the Price of Single-Family Homes.” Journal of Environmental Horticulture, 27,1(2009): 24-30.
Elam, E. and Andrea Stigarll. “Landscape and House Appearance Impacts on the Price of
Single-Family Houses.” J. of Environmental Horticulture, 30,4 (2012): 182-188.
Research Bulletins (5)
Reneau, Duane, and Emmett Elam. Seasonal Price Patterns for Arkansas Agricultural Products.
Arkansas Agricultural Experiment Station, Report Series 297, November 1986, 21 pp.
Elam, Emmett. Forward Contracting vs. Hedging of Fed Cattle. College of Agricultural
Sciences, Texas Tech University, Publication No. T-1-300, June 1989, 30 pp.
Elam, Emmett. "User's Manual for the Cotton Wizard: A Cotton/Cottonseed Variety Selection
Model." College of Agr. Sci. & Nat. Res. Manuscript No. T-1-529 and CER-00-12-00, Feb.
2000, 44 pp.
Beddow, Jason, Emmett Elam, and Mario Lopez. 2000. "The Cotton Wizard: A Software
Implementation of a Cotton Variety Selection Model." College of Agr. Sci. & Nat. Res.
Manuscript No. T-1-531 and CER-00-14, April 2000, 20 pp.
Elam, E. and Andrea Stigarll. 2012. “Landscape and House Appearance Impacts on SingleFamily House Prices.” College of Agri. Sci. & Nat. Res. Technical Report T-1-607, Texas Tech
University, Lubbock, TX, pp. 27.
Published Proceedings Papers (15)
Elam, Emmett. "The Impact of Cash Forward Contracting of Fed Cattle on Cash Prices." Papers
of the 1991 Annual Meeting, Western Agricultural Economics Association, Portland, Oregon,
July 1991, pp. 428-34.
Brashears, Todd, and Emmett Elam. "Testing Efficiency of the Cotton Futures Market Using
Japanese Candlestick Charts," 1993 Proceedings Beltwide Cotton Economics and Marketing
Conferences, Natl. Cotton Council, Memphis, TN, pp. 445-48.
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Elam, Emmett and Stephen Njukia. "The Risk Premium in Live Cattle Futures," in Applied
Commodity Price Analysis, Forecasting, and Market Risk Management, 1993 Proceedings of
NCR-134 Conference, Chicago, IL, pp. 317-29.
Elam, Emmett. "The Relation Between Seed Index and Cottonseed Grade and Price." Proc. 43rd
Oilseed Processing Clinic, Nat. Cottonseed Products Assoc. and Southern Reg. Res. Center,
ARS-USDA, March 1994, pp. 7-18.
Elam, Emmett, and Charles Dodson. "Excess Returns from Custom Cattle Feeding?" In Applied
Commodity Price Analysis, Forecasting, and Market Risk Management, 1994 Proceedings NCR134 Conference, Chicago, IL, pp. 104-18.
Elam, Emmett. "Impact of Variation in Seed Index on the Cotton Industry." 1995 Proc.
Beltwide Cotton Conferences, Natl. Cotton Council, Memphis, TN, vol. 1, pp. 420-26.
Chen, Changping, Emmett Elam, and Don Ethridge. "Historical Pricing Inaccuracies in Cotton
Futures: Implications for Hedging Strategies and Profits." Addendum: 1995 Proc. Beltwide
Cotton Conferences, Natl. Cotton Council, Memphis, TN, pp. 96-99.
Lopez, M.F., and Emmett Elam. "Estimating Seed Yield Using Lint Yield and Lint Percentage
of Seed Cotton." 1996 Proc. Beltwide Cotton Conferences, Natl. Cotton Council, Memphis, TN,
pp. 486-89.
Beddow, Jason, Emmett Elam, and Mario Lopez. “The Cotton Wizard: A Quantitative Decision
Tool for Cotton Variety Selection.” 1997 Proceedings Beltwide Cotton Conferences, Natl.
Cotton Council, Memphis, TN, 1585-1589.
Castleberry, Mark, and Emmett Elam. “Production and Disposal/Utilization of Cotton Gin
Waste from the Texas High and Low Plains.” 1998 Proceedings Beltwide Cotton Conferences,
Natl. Cotton Council, Memphis, TN, 1669-1674.
Castleberry, Mark, and Emmett Elam. “Economics of Cotton Gin Waste as a Roughage
Ingredient in Cattle Feedlot Rations on the Texas High Plains.” 1999 Proceedings Beltwide
Cotton Conferences, Natl. Cotton Council, Memphis, TN, 1472-1478.
Elam, Emmett. "Seed Selection: A Researcher's Perspective on Cottonseed Quality, Profits, &
Variety Selection." Member of the Seed Selection Panel, 2000 Beltwide Cotton Conferences,
San Antonio, TX, Jan. 2000. Published in 2000 Proceedings Beltwide Cotton Conferences, Natl.
Cotton Council, Memphis, TN, vol 1, p. 21.
Elam, Emmett. "A Marketing Strategy for Cotton Producers Based on Mean Reversion in Cotton
Futures Prices." 2000 Proceedings Beltwide Cotton Conferences, Natl. Cotton Council,
Memphis, TN, vol. 1, pp. 310-313.
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Middleton, Marty, Emmett Elam, Greg Holt, and Weldon Laird. “Preliminary Estimates of the
Cost of Extrusion Processing of Cotton Gin By-Product as a Livestock Feed.” 2001 Proceedings
Beltwide Cotton Conferences, Natl. Cotton Council, Memphis, TN, vol. 1, pp. 266-270.
Middleton, Marty, Emmett Elam, Greg Holt, and Weldon Laird. “Cost of Extrusion Processing
of Cotton Gin By-Product as Livestock Feed.” 2002 Proceedings Beltwide Cotton Conferences,
Natl. Cotton Council, Memphis, TN, CD-ROM disk.
USDA Publications (2)
Holder, Shelby H., and Emmett W. Elam. "Returns to Selected Rice Marketing Strategies." Rice
Outlook and Situation, USDA, RS-41(1983): 12-15.
Elam, Emmett, Steve Miller, and Shelby Holder. "Cross-Hedging of Rice Bran and Millfeed."
Rice Outlook and Situation, USDA, RS-43(1984): 14-18.
Technical Articles (18)
Elam, Emmett, and Barry Crudup. "Farmers Surveyed on Price Projections, Cash Contracting
and Hedging." Arkansas Farm Research, 31(1982): 14.
Elam, Emmett, and Shelby Holder. "Returns to Rice Storage, 1972-81." Arkansas Farm
Research, 32(1983): 3.
Holder, Shelby, and Emmett Elam. "On-farm Storage Holds Rice Cheaper, Offers Price
Benefits." Rice Farming, 17(1983): 29-34.
Elam, Emmett W., Stephen E. Miller, and Shelby H. Holder. "Pricing Rice Bran and Millfeed by
Using Corn Futures." Grain Age, 25(1984): 8-9.
Elam, Emmett, Steve Miller, and Shelby Holder. "Using Corn Futures to Price Rice Bran."
Arkansas Farm Research, 33(1984): 9.
Elam, Emmett W., Steve Miller, and Shelby Holder. "Using Corn Futures to Price Rice Bran."
The Rice World and Soybean News, 4(1984): 7.
Elam, Emmett, and Shelby Holder. "Rice Outlook and Situation Price Forecast Accuracy
Evaluated." Arkansas Farm Research, 34(1985): 7.
White, Tom, and Emmett Elam. "A Marketing Strategy for Cattle Backgrounders." Arkansas
Farm Research, 34(1985): 2.
Elam, Emmett. "Arkansas Soybean Hedging Risk Using Gulf vs. Chicago Futures." Arkansas
Farm Research, 34(1985): 3.
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Elam, Emmett. "Arkansas Feeder Pig Pricing." Arkansas Farm Research, 35(1986): 11.
Reneau, Duane, and Emmett Elam. "Seasonal Agricultural Price Patterns." Arkansas Farm
Research, 35(1986): 5.
Elam, Emmett. "Hedging Arkansas Feeder Cattle." Arkansas Farm Research, 35(1986): 8.
Jordan, Ed, Duane Reneau, Emmett Elam, and Teri Huffaker. "Seasonal Price Patterns for
Arkansas Corn." Arkansas Cooperative Extension Service, Fact Sheet 4, November 1986.
Jordan, Ed, Duane Reneau, Emmett Elam, and Teri Huffaker. "Seasonal Price Patterns for
Arkansas Soybeans." Arkansas Cooperative Extension Service, Fact Sheet 5, November 1986.
Jordan, Ed, Duane Reneau, Emmett Elam, and Teri Huffaker. "Seasonal Price Patterns for
Arkansas Cotton." Arkansas Cooperative Extension Service, Fact Sheet 6, November 1986.
Jordan, Ed, Duane Reneau, Emmett Elam, and Teri Huffaker. "Seasonal Price Patterns for
Arkansas Rice." Arkansas Cooperative Extension Service, Fact Sheet 8, April 1987.
Jordan, Ed, Duane Reneau, Emmett Elam, and Teri Huffaker. "Seasonal Price Patterns for
Arkansas Grain Sorghum." Arkansas Cooperative Extension Service, Fact Sheet 9, April 1987.
Thompson, S.L. and E.W. Elam. "Feeder Cattle Hedging Risk with Cash Settlement Futures."
Arkansas Farm Research, 36(1987): 7.
Other Papers (13)
Elam, Emmett. "Memphis Hog Basis Tables." Department of Agricultural Economics and Rural
Sociology, University of Arkansas, Staff Paper No. SP0383, March 1983, 15 pp.
Elam, Emmett W. "A Current Appraisal of the New Orleans Commodity Exchange Rice Futures
Markets." Department of Agricultural Economics and Rural Sociology, University of Arkansas,
Staff Paper No. SP0483, April 1983, 44 pp.
Fryar, Ed, Emmett Elam, and Oscar Bonifaz. "Forecasting Future Cash Prices Using Current
Cash and Current Futures Quotes." Department of Agricultural Economics and Rural Sociology,
University of Arkansas, Staff Paper No. SP1185, May 1985, 16 pp.
Elam, Emmett, Ed Fryar, and Daniel Vaught. "A Re-Examination of the Forward Pricing
Performance of the Live Beef Cattle Futures Market." Department of Agricultural Economics
and Rural Sociology, University of Arkansas, Staff Paper No. SP1285, May 1985, 22 pp.
Elam, Emmett, and Ed Fryar. "Profits from Long Term Soybean Trades." Department of
Agricultural Economics and Rural Sociology, University of Arkansas, Staff Paper No. SP1685,
June 1985, 20 pp.
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Elam, Emmett. "Can Hedging Risk be Reduced with a Gulf Soybean Futures Contract?"
Department of Agricultural Economics and Rural Sociology, University of Arkansas, Staff Paper
No. SP2785, August 1985, 17 pp.
Elam, Emmett. "Determining the Minimum Variance Hedge Ratio." Department of Agricultural
Economics and Rural Sociology, University of Arkansas, Staff Paper No. SP3785, September
1985, 16 pp.
Elam, Emmett. "Market Efficiency at Arkansas Feeder Pig Auctions." Department of
Agricultural Economics and Rural Sociology, University of Arkansas, Staff Paper No. SP0786,
January 1986, 37 pp.
Elam, Emmett. "Feeder Pig Marketing Costs." Department of Agricultural Economics and Rural
Sociology, University of Arkansas, Staff Paper No. SP1286, February 1986, 38 pp.
Elam, Emmett, and Dan Vaught. "The Return on Publicly Traded Futures Funds." Department
of Agricultural Economics and Rural Sociology, University of Arkansas, Staff Paper No.
SP0387, January 1987, 12 pp.
Smith, Roger, and Emmett Elam. "Fed Cattle Basis for the Texas High Plains." Department of
Agricultural Economics, Texas Tech University, May 1990, 11 pp.
Roesler, Ron, and Emmett Elam. "Cattle Cash Contracting." Department of Agricultural
Economics, Texas Tech University, December 1990, 31 pp.
Elam, Emmett, Marty Middleton, Greg Holt, Weldon Laird, and Reed Richardson. “Economic
Feasibility of Extrusion of Cotton Gin Byproduct as Livestock Feed.” Department of
Agricultural and Applied Economics, Texas Tech University, July 2003, 35 pp.
Software Applications
Elam, Emmett, Mario Lopez, John Messec, and Jason Beddow. “Cotton Wizard: A
Cotton/Cottonseed Variety Selection Program.” The program is a computer implementation of a
cotton/cottonseed variety selection model intended to assist cotton producers in variety selection.
The operation of the program is explained in a user's manual and a software article referenced
under “Research Bulletins.”
Elam, Emmett. “Cotton Wizard: A Cotton/Cottonseed Variety Selection Application.” The
web-based application includes a database of cotton performance tests and analytical tools to
assist industry decision makers in data analysis and cotton variety selection.
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The Cotton Wizard program has been demonstrated at national/regional meetings:
"Producing the Best" Workshop, Beltwide Cotton Conferences, New Orleans, LA, Jan.
1997.
Lubbock Gin Show, Lubbock, TX, April 1997.
National Cotton Ginners' Assoc., Ginning Technology Committee, Cottonseed
Subcommittee, Stoneville, MS, June 1997.
Cotton Breeder Tour, Maricopa, AZ, September 1997.
"Cotton Improvement: A Partnership with Producers" Workshop, Beltwide Cotton Conf.,
San Diego, CA, Jan. 7, 1998.
Select State Extension Cotton Specialists and Select Members of National Cotton Ginners
Assoc., Beltwide Cotton Conferences, San Diego, CA, Jan. 8, 1998.
Department of Ag. & Appl. Economics: presentation made for Dr. Marion Tobler, ETH
Zentrum, Jan. 13, 1998.
Three-day demonstration of the Cotton Wizard: A Cotton/Cottonseed Variety Selection
computer program at the Lubbock Gin Show, April 7-9, 1999.
The Cotton Wizard program has been presented in magazine articles:
"Variety Selection Software Boosts Profits," Cotton Farming Magazine, March 1997, p. 24.
"Variety Program Raises Cottonseed Value Awareness," Fiber Innovator, March 1997, p.
18.
"Shopping for Software," Progressive Farmer, Cotton Report, May 1998, pp. 8 & 10.
Abstracts of Presentations (26)
Elam, Emmett. "An Appraisal of the New Orleans Commodity Exchange Rice Futures
Markets." Proceedings—Nineteenth Rice Technical Working Group, Texas A & M University,
(1982): 31.
Elam, Emmett. "The Predictability of the Hogs and Pigs Intentions Series." Southern J. of
Agricultural Economics, 15(1983): 168.
Elam, Emmett, Steve Miller, and Shelby Holder. "Remarks on Cross-Hedging Rice Bran and
Millfeed." Proceedings—Twentieth Rice Technical Working Group, Texas A & M University,
(1984): 64.
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Elam, Emmett. "An Evaluation of the Rice Outlook and Situation Price Forecasts." Western J.
of Agricultural Economics, 9(1984): 371.
Elam, Emmett, Steve Miller, and Shelby Holder. "Simple and Multiple Cross-Hedging of Rice
Bran." American J. of Agricultural Economics, 66(1984): 907.
Elam, Emmett. "The Variability of Intertemporal Price Relationships for a Storable
Commodity." American J. of Agricultural Economics, 66(1984): 909.
Elam, B.P., and Emmett Elam. "An Indirect Method for Determining the Minimum Variance
Hedging Level." American J. of Agricultural Economics, 66(1984): 900-901.
Fryar, Edward O., Emmett Elam, Mark Cochran, and Oscar Bonifaz. "A New Procedure for
Evaluating the Forecasting Efficiency of the Futures Market." Southern J. of Agricultural
Economics, 17(1985): 190.
Ed Fryar, Emmett Elam, and Oscar Bonifaz. "Forecasting Performance of the Corn Futures
Market." Western J. of Agricultural Economics, 10(1985): 423.
Elam, Emmett, and Ed Fryar. "Pricing Inefficiency and Long Term Profits in Soybean Futures."
Southern J. of Agricultural Economics, 18(1986): 195-96.
Elam, Emmett, and Daniel Vaught. "Using the Capital Asset Pricing Model to Evaluate Risk and
Return in Cattle and Hog Futures." Southwestern J. of Economic Abstracts, 7(1986): 26.
Elam, Emmett, and Shelby Holder. "Accuracy of Rice Outlook and Situation Price Forecasts."
Proceedings—Twenty-First Rice Technical Working Group, Texas A & M University, (1986):
116.
Elam, Emmett. "Hedging Risk for Beef Cattle Using Price Change and Price Level Regression."
American J. of Agricultural Economics, 68(1986): 1389.
Elam, Emmett. "Hedging Risk with Cash Settlement Feeder Cattle Futures." Southern J. of
Agricultural Economics, 19(1987): 139.
Elam, Emmett. "Hedging Risk With Price Change and Price Level Regression." Southern J. of
Agricultural Economics, 19(1987): 138-39.
Elam, Emmett, and Dan Vaught. "Trading a Portfolio of Commodity Futures Using a 10-day
Channel Strategy." American J. of Agricultural Economics, 69(1987): 1086.
Elam, Emmett, and Bruce Dixon. "Examining the Validity of a Test of Futures Market
Efficiency." Southwestern J. of Economic Abstracts, 10(1989): 44-45.
Elam, Emmett, and John Smith. "Grain Sorghum Futures at the Kansas City Board of Trade."
Southwestern J. of Economic Abstracts, 11(1990): 53-55.
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Elam, Emmett. "Price Level Regression, Autocorrelated Residuals, and Hedging Risk."
Southern J. of Agricultural Economics, 23(1991): 256.
Elam, Emmett, and Chaw Wayoopagtr. "The Systematic Downward Bias in Live Cattle Futures
Prices." Southwestern J. of Economic Abstracts, 12(1991): 47.
Elam, Emmett. "The Impact of Cash Forward Contracting of Fed Cattle on Cash Prices." J. of
Agricultural and Resource Economics, 16,2(1991): 459.
Elam, Emmett, and Chaw Wayoopagtr. "A Re-Examination of Helmuth's Trading Strategy for
Live Cattle Futures." American J. of Agricultural Economics, 73,5(1991): 1532.
Chen, Changping, Emmett Elam, and Don Ethridge. "Mean Reversion in Cotton Futures Prices:
Implications for Hedging Strategies and Trading Profits." J. of Ag. and Res. Econ., 20,2(1995):
403.
Hudson, Darren, and Emmett Elam. "Pricing Efficiency: Linkages Between 'Traditional' Pricing
Efficiency Models and Cointegration." J. of Agr. and Appl. Econ., 27,1(1995): 323. Published
as Texas Tech College of Agr. Sci. and Nat. Res. Publication No. T-1-409, April 1995, 30 pp.
Chen, Changping, Emmett Elam, and Don Ethridge. "Mean Reversion in Cotton Futures Prices."
J. of Agr. and Appl. Econ., 28,1(1996): 227.
Middleton, M., E. Elam. "Economic-Engineering Cost Analysis of a Cotton Gin Trash Extrusion
Plant." Journal of Agricultural and Applied Economics, 33,3(2001): 625.
Poster Presentation (1)
Alexander, Aaron, Terry A. Wheeler, Jason E. Woodward, Randal K. Boman, Craig W. Bednarz,
Emmett Elam, Tom C. Wedegaertner, and Norman W. Hopper. “Incidence of Bacterial Blight in
Easiflo Cottonseed as Compared to Acid Delinted Cottonseed.” 2008 Beltwide Cotton
Conferences, Nashville, TN, Jan. 8, 2008.
Other Presentations (not listed under Abstracts) (18)
Elam, Emmett. "A Causal Analysis of Volume, Open Interest and Price Change in the Live
Cattle Futures Market." Selected for presentation at the Applied Price Analysis Conference,
Iowa State University, October 1981.
Elam, Emmett. "Wheat Options." Department of Agricultural Economics and Rural Sociology,
University of Arkansas, Staff Paper No. SP0484, June 1984. Invited presentation to the Wheat
Committee of the Arkansas Farm Bureau, Little Rock, Arkansas, June 1984.
Elam, Emmett. "Feeder Pig Pricing." Invited presentation to the Swine Committee of the
Arkansas Farm Bureau, Little Rock, Arkansas, January 1985.
14
Elam, Emmett. "Risk in the Beef Cattle Industry." Presentation at the annual meeting of
Southern Regional Research Project, S-190, Memphis, Tennessee, January 1986.
Elam, Emmett. "Hedging Risk Using Price Change and Price Level Regression." Selected for
presentation at the Missouri Valley Economics Association, St. Louis, Missouri, March 1986.
Elam, Emmett. "Agricultural Futures Markets." Invited presentation to Texas Agricultural
Youth Congress, Austin, Texas, June 1989.
Elam, Emmett. "Forward Contracting of Fed Cattle." Invited presentation to the Texas Cattle
Feeders Association convention, San Antonio, Texas, November 1989.
Elam, Emmett. "Contracting Fed Cattle." Presentations were made to audiences of feedlot
managers, cattle feeders, journalists, etc. at three locations: Garden City, Kansas, April 5, 1990;
Kearney, Nebraska, April 6-7, 1990, Amarillo, Texas, April 9, 1990.
Elam, Emmett. "Futures Markets." Invited presentation to Texas Agricultural Youth Congress,
Austin, Texas, June 1990.
Elam, Emmett. "Diversification Using Agricultural Futures." Invited presentation to the West
Texas Chapter of the International Association for Financial Planning, Lubbock, Texas, October
1991.
Mario Lopez, Emmett Elam, and Eric Wanjura. "Predicting Feed Efficiency of Feedlot Cattle."
Presentation to Beef Discussion Group, Texas Tech University, Lubbock, TX, March 1996.
Mario Lopez, and Emmett Elam. "Cotton Variety Selection Model." Presentation at 1996
Beltwide Cotton Conferences, Nashville, TN, Jan. 1996.
“A Marketing Strategy for Cotton Producers Based on Mean Reversion in Cotton Futures
Prices.” Presentation to Texas State Support Committee, Cotton Incorporated, Austin, TX, Dec.
1999.
"The Cotton Wizard Computer Program." Presentation at the First Annual Research/Extension
Symposium, sponsored by the Cotton Economics Research Institute, Texas Tech Univ. and
Texas Agr. Extension Service, Lubbock, TX, April 5, 2000.
"Cotton Gin Trash as Livestock Feed Product." Presentation at the 2nd Annual
Research/Extension Symposium, Texas Tech Univ. and Texas Ag. Ext. Service, Lubbock, TX,
April 4, 2001.
"Coby Plant Design." Presentation to the Cotton Gin Trash Workshop, Insta-Pro International,
Jackson, MS, July 11, 2001.
15
"Economics of Outdoor Pig Production." Presentation to Sustainable Pork Seminar, Lubbock,
TX, Dec. 6, 2001.
“Cotton Wizard: Variety Comparison Tool.” Presentation to 2007 Breeders’ Tour, Phoenix, AZ,
Sept. 17, 2007.
Selected Articles Reporting My Research
Smith, Linda. "Feeder-Cattle Hedges Work." Beef Today, August 1988,
p. 20.
Knox, Alex. "How to Profit Trading Soybeans." Farm Journal, October 1988, p. 26.
"Research Briefs." Broker News (Livestock), October 1988, p. 4.
"Contracting or Hedging--Which Pays?" Beef Business Bulletin, National Cattleman's
Association, Dec. 1989.
Byers, Ward. "Cattle Contracts Costly, Studies Show." The Sunday Oklahoman, Nov. 26, 1989,
p. 1-C.
"Study Says Hedging Cattle More Profitable Than Forward Contracting." Weekly Livestock
Reporter, Nov. 14, 1989.
Fohn, John. "Dealing with Uncertain Futures." Express and News, San Antonio, Texas, Nov.
15, 1989.
Stalcup, Larry. "Hedging vs. Forward Contracting, Which Way to Go?" Drovers Journal,
December 1989.
"Fed Cattle Hedge Favored over Forward Contracting." Reuters, Nov. 14, 1989.
"Study Says Hedging Cattle More Profitable Than Forward Contracting." Commodity News
Service, Inc., Nov. 14, 1989.
"Peace-of-mind Selling Has a Cost." Beef, January 1990, p. 50.
"The Cost in Forward Contracts." Beef Today, January 1990, p. 5.
"Captive Supplies May Affect Prices." Cattle Buyers Weekly, May 14, 1990.
Stalcup, Larry. "The Cost of a Forward Contract." Beef Today, February 1990, pp. 28-29.
Painter, Steve. "Mounting a Challenge to the Powerful Packers." Wichita Eagle, April 22, 1990,
p. 2f.
16
"News Glance." TSCRA News Update, Texas and Southwestern Cattle Raisers Association, vol.
11, Nov. 20, 1989, p. 8.
Kay, Steve. "Co-op Contracting Gains Support." Beef Today, May 1990, pp. 34-35.
"Co-op Contracting Gains Support." Cattle Buyers Weekly, April 16, 1990.
"Co-op Contracting Is Touted." Cattle Buyers Weekly, March 26, 1990.
"IBP Has Feeders Lining Up." Cattle Buyers Weekly, June 4, 1990.
Fava, Al. “EPA Probing Gin Trash.” Cotton Grower, Jan. 1999, p. 6.
Board, Wayne. “Stockyards make scant use of cotton gin trash.” Lubbock Avalanche-Journal,
May 7, 1999, p. 4E.
Reed, Jimmy. “Extrusion Can Make Gin Trash Valuable.” Cotton Farming, March 2001, pp. 60
& 62.
“Gin Trash Being Repackaged as Cattle Feed.” Progressive Farmer, May-June 2001, p.
COTTON-17.