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Calf Retention And Production Decisions Over Time

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  • Lambert, David K.

Abstract

Ranch production and marketing decisions occur sequentially over time as uncertainty regarding future events is resolved. The model developed in this paper explicitly considers the sequential nature of ranch decision making in determining optimal strategies for calf retention and production. A number of optimal decisions are reported for each period, conditional upon the state of nature and expected future events at that decision node. Solutions are found to be dependent on observed and expected output prices.

Suggested Citation

  • Lambert, David K., 1989. "Calf Retention And Production Decisions Over Time," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 14(01), July.
  • Handle: RePEc:ags:wjagec:32445
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    File URL: http://purl.umn.edu/32445
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    References listed on IDEAS

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    1. Garoian, Lee & Conner, J. Richard & Scifres, C.J., 1987. "A Discrete Stochastic Programming Model To Estimate Optimal Burning Schedules On Rangeland," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 19(02), December.
    2. Olson, Kent D. & Mikesell, Chris L., 1988. "The Range Stocking Decision And Stochastic Forage Production," Staff Papers 13502, University of Minnesota, Department of Applied Economics.
    3. Garoian, L. & Conner, J. R. & Scifres, C. J., 1987. "A Discrete Stochastic Programming Model to Estimate Optimal Burning Schedules on Rangeland," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 19(02), pages 53-60, December.
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    Cited by:

    1. Tang, Minfeng & Lewis, Karen E. & Griffith, Andrew P. & Boyer, Christopher N., 2016. "Identifying Factors that Impact Returns to Retained Ownership of Cattle," 2016 Annual Meeting, February 6-9, 2016, San Antonio, Texas 229766, Southern Agricultural Economics Association.
    2. Schilizzi, S. G. M. & Kingwell, R. S., 1999. "Effects of climatic and price uncertainty on the value of legume crops in a Mediterranean-type environment," Agricultural Systems, Elsevier, vol. 60(1), pages 55-69, May.
    3. Kingwell, Ross S., 1992. "The Tactics of Dryland Farm Management given Variance in Climate and Prices," 1992 Conference (36th), February 10-13, 1992, Canberra, Australia 146536, Australian Agricultural and Resource Economics Society.
    4. Tronstad, Russell & Teegerstrom, Trent, 2001. "Managing Herd Composition Of Range Cattle: Sale Weight And Seasonal Factors," 2001 Annual Meeting, July 8-11, 2001, Logan, Utah 36058, Western Agricultural Economics Association.
    5. Mosnier, C. & Agabriel, J. & Lherm, M. & Reynaud, A., 2009. "A dynamic bio-economic model to simulate optimal adjustments of suckler cow farm management to production and market shocks in France," Agricultural Systems, Elsevier, vol. 102(1-3), pages 77-88, October.
    6. Taylor, R. Garth & Young, Robert A., 1995. "Rural-To-Urban Water Transfers: Measuring Direct Foregone Benefits Of Irrigation Water Under Uncertain Water Supplies," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 20(02), December.
    7. Popp, Michael P. & Faminow, Merle D. & Parsch, Lucas D., 1998. "Adoption Of Backgrounding On Cow-Calf Farms," 1998 Annual meeting, August 2-5, Salt Lake City, UT 20800, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    8. Rose, G. & Mulder, H.A. & Thompson, A.N. & van der Werf, J.H.J. & van Arendonk, J.A.M., 2014. "Varying pasture growth and commodity prices change the value of traits in sheep breeding objectives," Agricultural Systems, Elsevier, vol. 131(C), pages 94-104.
    9. Kingwell, Ross S. & Pannell, David J. & Robinson, Stephen D., 1993. "Tactical responses to seasonal conditions in whole-farm planning in Western Australia," Agricultural Economics, Blackwell, vol. 8(3), pages 211-226, March.
    10. Novak, Frank & Eales, James & Munro, Earl, 1993. "Profitability and Risk of Retained Ownership of Beef Calves," Project Report Series 232371, University of Alberta, Department of Resource Economics and Environmental Sociology.
    11. Apland, Jeffrey & Hauer, Grant, 1993. "Discrete Stochastic Programming: Concepts, Examples And A Review Of Empirical Applications," Staff Papers 13793, University of Minnesota, Department of Applied Economics.
    12. Tsakiridis, Andreas & Breen, James & O'Donoghue, Cathal & Hanrahan, Kevin & Wallace, Michael & Crosson, Paul, 2016. "Flexibility of beef suckler cow systems under varying calf retention strategies," 90th Annual Conference, April 4-6, 2016, Warwick University, Coventry, UK 236289, Agricultural Economics Society.

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    Keywords

    Livestock Production/Industries;

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