Authors: Hannah M. Martin; Katherine T. Smith; L. Murphy Smith
Addresses: Hutson School of Agriculture, Murray State University, Murray, KY 42071, USA ' Bauernfeind College of Business, Murray State University, Murray, KY 42071-3314, USA ' Bauernfeind College of Business, Murray State University, Murray, KY 42071-3314, USA
Abstract: This study provides an economic and financial performance analysis of prominent companies in the meat industry in the aftermath of public policy initiatives that divert corn to making biofuel and away from making food and animal feed. Results should be of interest to policy makers, investors, and other stakeholders. An important part of personal and societal wellness is the issue of a healthy diet. Meat provides essential nutrients, notably protein, B vitamins, vitamin D, and iron. Eating a proper diet has been a concern from ancient times to the present. For example, the Bible story of Daniel, written about 540 B.C., describes the benefits of eating healthy food (Daniel 1:15). The meat industry is a major agricultural sector that plays an important economic role in many countries of the world. In light of the meat industry's important contributions to the economy and to people's health, great care should be given when developing public policies that affect the industry. Diverting corn crops to make biofuel, perhaps well motivated public policy when initiated, is now questionable.
Keywords: food production; international agriculture; meat industry; public policy; economic performance; financial performance; firm performance; corn crops; biofuels; animal feed.
International Journal of Economics and Accounting, 2016 Vol.7 No.1, pp.74 - 88
Received: 25 Jun 2015
Accepted: 26 Jun 2015
Published online: 26 May 2016 *