Alternative Breeding Inventory Specifications In A Livestock Market Model
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.
Volume (Year): 37 (1993)
Issue (Month): 03 (December)
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- Vere, David T. & Griffith, Garry R., 1988. "Supply and Demand Interactions in the New South Wales Prime Lamb Market," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 56(03), December.
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- Jarvis, Lovell S, 1974. "Cattle as Capital Goods and Ranchers as Portfolio Managers: An Application to the Argentine Cattle Sector," Journal of Political Economy, University of Chicago Press, vol. 82(3), pages 489-520, May/June.
- S. N. Kulshreshtha & A. G. Wilson, 1972. "An Open Econometric Model of the Canadian Beef Cattle Sector," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 54(1), pages 84-91.
- Reynolds, R.G. & Gardiner, B., 1980. "Supply Response In The Australian Sheep Industry: A Case For Disaggregation And Dynamics," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 24(03), December.
- Randal R. Rucker & Oscar R. Burt & Jeffrey T. LaFrance, 1984.
"An Econometric Model of Cattle Inventories,"
Monash Economics Working Papers
archive-25, Monash University, Department of Economics.
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