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Alternative Breeding Inventory Specifications In A Livestock Market Model

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  • Vere, David T.
  • Griffith, Garry R.
  • Bootle, B.W.

Abstract

The procedures adopted for incorporating breeding decisions in a livestock market model have implications for the simulation of the model. Specifically, there is a need to consider the nature of the biological lags between livestock breeding decisions and outputs, and how these are incorporated in the breeding inventory used in such a model. In this paper, five alternative breeding inventory specifications are used in a structural econometric model of the Australian prime lamb market. The predictions of lamb slaughterings and of price responses of lamb producers are affected by the specification of the lamb breeding inventory used. The extent to which the modelling results approximated reality was substantially improved when disaggregated and seasonally allocated data were used to estimate lamb breeding inventories.

Suggested Citation

  • Vere, David T. & Griffith, Garry R. & Bootle, B.W., 1993. "Alternative Breeding Inventory Specifications In A Livestock Market Model," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 37(3), pages 1-24, December.
    • Handle: RePEc:ags:ajaeau:22739
    DOI: 10.22004/ag.econ.22739
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    References listed on IDEAS

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    1. Griffith, G. R. & Vere, D. T. & Bootle, B. W., 1995. "An integrated approach to assessing the farm and market level impacts of new technology adoption in Australian lamb production and marketing systems: The case of large, lean lamb," Agricultural Systems, Elsevier, vol. 47(2), pages 175-198.

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