Net return and risk analysis of winter cover crops in dryland cotton systems
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Winter cover crop and notill are two promising conservation practices to reduce soil erosion and promote longterm sustainability. This research evaluates the net returns of two different tillage methods and five cover crop treatments in dryland cotton (Gossypium hirsutum L.) production and identifies riskefficient tillage and cover crop management practices. Fouryear field experiments (20132016) were conducted for a continuous cotton production system under conventional tillage and notill without a cover crop, as well as notill with cover crops including winter wheat (Triticum aestivum L.), crimson clover (Trifolium incarnatum L.), Austrian winter field pea (Pisum sativum L.), hairy vetch (Vicia villosa Roth), and mixed cover crops. Results showed no statistical differences in lint yields (P=.98) or net returns (P=.82). Notill with crimson clover decreased yield variation compared to conventional tillage, while hairy vetch and mixed cover crops increased yield variation. The average net returns were US$454and $461ha for conventional tillage and notill without a cover crop, respectively. The average net returns ranged from $346to $389ha for the cover crop treatments. Producers have a higher probability of getting a higher net return if switching from conventional tillage to notill. The risk analysis results showed that notill without a cover crop was the most preferred practice by riskneutral, somewhat and rather riskaverse producers. For very and extremely riskaverse producers, notill with crimson clover was the most preferred management practice.
