1. ECONOMIC EFFICIENCY ANALYSIS OF DIVERSIFICATION IN MILK FARM BUSINESS USING REAL OPTIONS APPROACHNemanja Jalić, 2025, doktorska disertacija Opis: The significance of the agricultural sector in the economy of Republika Srpska, as well as the importance of dairy cattle farming within agriculture, determined the thematic field of the research, which had several key research objectives. The first objective of the dissertation was to determine the economic efficiency of the investment in milk production and sales on family farms with 8-15 dairy cows in Republika Srpska. The second objective was to assess the risk, or volatility, of such investment projects. The third objective was to calculate the additional value of diversification in transitioning from selling milk to milk processing into cheese on the same farm and determine the additional project's strategic value. The final objective was to compare the case studies of the analyzed farms based on selected indicators. Primary data were collected by interviewing five farmers who produce milk and process it into cheese while secondary data were obtained from various sources. Key data processing methods included Cost-Benefit Analysis, Monte Carlo simulations, and Black-Scholes and Binomial methods for evaluating real options. Based on the results of the analysis of milk production projects on small farms in Republika Srpska, it was concluded that these projects are economically unsustainable due to their negative and insufficiently satisfactory indicators. Through Monte Carlo simulations, it was determined that changes in input and output prices have an impact on such projects. Diversification of milk production into cheese processing on small farms is economically efficient, as the option values of the additional project are satisfactory and the NPVS, representing the total value of the additional project, ranges from €28,000 to €143,000 for all five analyzed farms. Based on the farm analysis, the conclusion is that the farm with the highest number of dairy cows implements an extensive feeding method, and sells its products at a prominent tourist location in rural areas has the best indicators and represents the best business model for small milk farms in the territory of Republika Srpska.
Ključne besede: Agriculture, Milk farming, Cheese production, Cost-Benefit Analysis, Real Options Approach, Monte Carlo Simulation
Objavljeno v DKUM: 13.03.2025; Ogledov: 0; Prenosov: 3
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2. A new somatic cell count index to more accurately predict milk yield lossesJanez Jeretina, Dejan Škorjanc, Drago Babnik, 2017, izvirni znanstveni članek Opis: Intramammary infection and clinical mastitis in dairy cows leads to considerable economic losses for farmers. The somatic cell concentration in cow's milk has been shown to be an excellent indicator for the prevalence of subclinical mastitis. In this study, a new somatic cell count index (SCCI) was proposed for the accurate prediction of milk yield losses caused by elevated somatic cell count (SCC). In all, 97238 lactations (55207 Holstein cows) from 2328 herds were recorded between 2010 and 2014 under different scenarios (high and low levels of SCC, four lactation stages, different milk yield intensities, and parities (1, 2, and _>3). The standard shape of the curve for SCC was determined using completed standard lactations of healthy cows. The SCCI was defined as the sum of the differences between the measured interpolated values of the natural logarithm of SCC (ln(SCC)) and the values for the standard shape of the curve for SCC for a particular period, divided by the total area enclosed by the standard curve and upper limit of ln(SCC)=10 for SCC. The phenotypic potential of milk yield (305-day milk yield - MY305) was calculated using regression coefficients estimated from the linear regression model for parity and breeding values of cows for milk yield. The extent of daily milk yield loss caused by increased SCC was found to be mainly related to the early stage of lactation. Depending on the possible scenarios, the estimated milk yield loss from MY305 for primiparous cows was at least 0.8 to 0.9 kg day -1 and for multiparous cows it ranged from 1.3 to 4.3 kg day-1. Thus, the SCCI was a suitable indicator for estimating daily milk yield losses associated with increased SCC and might provide farmers reliable information to take appropriate measures for ensuring good health of cows and reducing milk yield losses at the herd level.
Ključne besede: dairy cows, milk production, lactation intervals, milk yield losses, somatic cell count index
Objavljeno v DKUM: 24.10.2017; Ogledov: 1593; Prenosov: 486
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3. The Influence of various origins of first calving Simmental and Black-White cows on production and content of milkMarjan Janžekovič, Dejan Škorjanc, Jože Smolinger, 2004, izvirni znanstveni članek Opis: A total of 1 070 Simmental and Black-White first calving cows and the same number of mother cows were investigated. The first calving cows originally arrived from Slovenia, the Netherlands, Germany and Denmark. No statistically significant differences were established in the milk production and quality of milk between the first calving cows from abroad compared to the first calving Slovenian cows. Statistically significant higher milk production (8 004 ± 981 kg; P ≤0.001) had mother cows of the imported Black-White compared to the Slovene (6 514 ± 1 142 kg) ones. There were no statistically significant differences, in the milk production and quality of milk, between the imported mothers of first calving cows of Simmental breed comparing with Slovenian mothers of first calving cows of the same breed. The milk production between the mothers and their Simmental daughters had a statistically significant correlation (rp = 0.125; P ≤ 0.01). The higher correlation coefficient for this characteristic was established between the Black-White mothers and their daughters (rp = 0.302; P ≤ 0.001). Among the milk production of first calving cows and protein content in milk a statistically negative significant correlation (rp = -0.198; P ≤ 0.001) was established. This result confirmed that the purchase of more expensive animals with better genetic potential is economically unjustified for the breeder who does not reach intensive technology of basic quality voluminous fodder.
Ključne besede: cattle, Simmental, Black-White, milk production, protein, fat
Objavljeno v DKUM: 10.07.2017; Ogledov: 1474; Prenosov: 106
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4. Kefir grains production - An approach for volume optimization of two stage bioreactor systemAndreja Goršek, Marko Tramšek, 2008, izvirni znanstveni članek Opis: The main objective of the present study was to design a continuous two-stage bioreactor system for kefir grains production. Based on the experimental data of time-depended kefir grain mass increase and average pH profile during kefir grains batch propagation, parameters of predictive growth and exponential pH models were initially estimated. Afterwards, the non-linear programming (NLP) optimization problem for estimating the optimal volumes of two unequal in series connected continuously stirred tank bioreactors (CSTB) has been developed. The NLP problem is based on criterion of minimal total holding time (MTHT), kefir grain mass balances in CSTB and parameters of the growth and pH models. The results showed that novel kefir grains production plant with two-stage continuous operation, at capacity, qm,KG,pr=3 kgh-1 and conversion, Xo,2=0.980, would primarily require investment in two CSTB with V1=5.93 m3 and V2=5.62 m3, respectively. Technological and economical authorization for a two-stage continuous bioreactor system was mainly confirmed with a more than five times lower total bioreactor volume compared to one-stage plant.
Ključne besede: chemical processing, bioprocesses, milk products, kefir grains production, bioreactor design, modeling, optimization
Objavljeno v DKUM: 31.05.2012; Ogledov: 3283; Prenosov: 131
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