** AWARDS ISSUED PRIOR TO JANUARY 20, 2025, WERE FUNDED UNDER PREVIOUS ADMINISTRATIONS AND MAY NOT REFLECT THE PRIORITIES AND POLICIES OF THE CURRENT ADMINISTRATION.** CATTLE ARE THE LARGEST SOURCE OF U.S. FARM REVENUE. WITH DROUGHTS BECOMING MORE FREQUENT AND SEVERE, CATTLE PRODUCERS ARE MAKING COSTLY DECISIONS TO REDUCE THEIR HERD SIZE OR STOCKING RATES. WHILE THE FEDERAL FARM SAFETY NET HAS BEEN FOCUSED ON ROW CROPS, DISASTER PROGRAMS AND CROP INSURANCE, FOR WHICH PAYOUTS BASED ON WEATHER CONDITIONS AND ARE LINKED TO THE VALUE OF FORAGE, ARE AVAILABLE TO CATTLE PRODUCERS. THE PROPOSED RESEARCH WILL STUDY THE INTERLINKAGE AMONG CATTLE PRODUCTION, FORAGE PRODUCTION AND STORAGE, AND THE UTILIZATION OF FEDERAL PROGRAMS FOCUSING ON INCREASING DROUGHT RISK. WE WILL FIRST EXPAND ON CATTLE CYCLE THEORY TO INCORPORATE FORAGE STORAGE AND SAFETY NET PAYMENTS THAT ARE CORRELATED TO LOCAL WEATHER SHOCKS. THE DEVELOPED THEORETICAL MODEL WILL PROVIDE THE FOUNDATION FOR TWO EMPIRICAL STUDIES. THE FIRST WILL USE BOTH NATIONAL DATA AND UNIQUE FARM-LEVEL DATA TO EXPLORE HOW FORAGE STOCKS PROVIDE A BUFFER AGAINST DROUGHT. THE SECOND EMPIRICAL STUDY WILL ESTIMATE THECOMPLEMENTARITIES AMONG FEDERAL DISASTERS PROGRAMS, FEDERAL RAINFALL INSURANCE FOR FORAGE PAYMENTS, AND FORAGE STORAGE. WE PLAN TO EXTEND THE LITERATURE THAT ASSESSES THE IMPACTS OF DROUGHT AND MARKET CONDITIONS ON HERD SIZE AND STOCKING RATE FOR CATTLE PRODUCTION BY EXPANDING THE FOCUS TO THE PRODUCTION AND MANAGEMENT OF FORAGE. THIS RESEARCH WILL PROPROVIDE A THEORETICAL AND EMPIRICAL FOUNDATION FOR FUTURE ECONOMIC RESEARCH, EXTENSION, AND MULTIDISCIPLINARY COLLABORATION ON THE RESILIENCE OF THE US CATTLE SECTOR TO CLIMATE CHANGE.