Net return and risk analysis of winter cover crops in dryland cotton systems

Abstract

AbstractWinter cover crop and no‐till are two promising conservation practices to reduce soil erosion and promote long‐term 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 risk‐efficient tillage and cover crop management practices. Four‐year field experiments (2013−2016) were conducted for a continuous cotton production system under conventional tillage and no‐till without a cover crop, as well as no‐till 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). No‐till 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$454 and $461 ha−1 for conventional tillage and no‐till without a cover crop, respectively. The average net returns ranged from $346 to $389 ha−1 for the cover crop treatments. Producers have a higher probability of getting a higher net return if switching from conventional tillage to no‐till. The risk analysis results showed that no‐till without a cover crop was the most preferred practice by risk‐neutral, somewhat and rather risk‐averse producers. For very and extremely risk‐averse producers, no‐till with crimson clover was the most preferred management practice.