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Planning Beef Production: An Application of Dynamic Programming

Author

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  • Clark, John
  • Kumar, Santosh

Abstract

The determination of an optimal feeding and marketing strategy for a beef grazing enterprise is formulated as a dynamic programming problem. It is supposed that a decision has to be made from time to time as to whether to market animals at their current weights or to retain them for further fattening; if the former policy is adopted, a further judgment is required as to whether to purchase replacement cattle immediately or at some later time. To obtain a realistic feeding and marketing model, liveweight gains and saleyard prices are assumed to be dependent on the time of the year and the breed of the cattle, saleyard prices also being dependent on liveweight.

Suggested Citation

  • Clark, John & Kumar, Santosh, 1978. "Planning Beef Production: An Application of Dynamic Programming," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 46(03), pages 1-12, December.
    • Handle: RePEc:ags:remaae:10298
    DOI: 10.22004/ag.econ.10298
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    References listed on IDEAS

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    1. Kennedy, John O.S. & Rofe, B.H. & Greig, I.D. & Hardaker, J. Brian, 1976. "Optimal Feeding Policies For Broiler Production: An Application Of Dynamic Programming," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 20(1), pages 1-14, April.
    2. C. F. Meyer & R. J. Newett, 1970. "Dynamic Programming for Feedlot Optimization," Management Science, INFORMS, vol. 16(6), pages 410-426, February.
    3. John O. S. Kennedy, 1973. "Control systems in farm planning," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 1(4), pages 415-433.
    4. Wright, A. & Dent, J. Barry, 1969. "The Application Of Simulation Techniques To The Study Of Grazing Systems," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 13(2), pages 1-10, December.
    5. A. Wright & J.B. Dent, 1969. "The Application Of Simulation Techniques To The Study Of Grazing Systems," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 13(2), pages 144-153, December.
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    Cited by:

    1. Nuthall, Peter L., 1980. "A Survey of Methods for Determining A Planning Horizon," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 48(01), pages 1-15, April.

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    Keywords

    Livestock Production/Industries;

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