This paper discusses the value of manure as a soil
amendment/fertilizer source. An often asked question is “what is the price of
manure?” This question is difficult to answer because price is determined by
markets. In the absence of markets for manure, its price is unknown. The best
that can be done is to estimate the potential price of manure for a specific
purpose. The estimation process is called hedonic pricing. In the absence of a
market, the sum of the value of various manure components approximates a price
for the manure itself. Hedonic pricing is heavily dependent on the many
assumptions imposed on the use of manure. Any change in assumptions will result
in a change in the approximate price of the manure. Because this type of
estimation of the price of manure is dependent on its many assumptions, rather
than on market supply and demand, it is only a starting point for negotiations
in a developing market. A person with an estimate of potential manure price can
use it to interest another in buying the manure, thus creating a market that
establishes a price for manure.
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