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Feed Prices, Substitution Patterns, and Technical Efficiency in Feedlot Cattle

Author

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  • Anderson, Andrew E.
  • Mitchell, James L.
  • Luke, Jaime R.

Abstract

The cattle feeding industry is sandwiched between relatively volatile commodity markets, and efficiency is critical. Changing prices for feedstuffs may cause substitution and output effects, in turn impacting technical efficiency. Using Kansas feedlot data, we estimate the effects of feed prices on cattle performance, focusing on the feed conversion ratio, average daily gain, and days on feed. Results show that several feed prices do indeed impact technical efficiency. These results have implications for management adapting to changing feed prices. Further, there are policy implications for programs that may impact commodity prices.

Suggested Citation

  • Anderson, Andrew E. & Mitchell, James L. & Luke, Jaime R., 2026. "Feed Prices, Substitution Patterns, and Technical Efficiency in Feedlot Cattle," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 58(1), pages 17-37, February.
    • Handle: RePEc:cup:jagaec:v:58:y:2026:i:1:p:17-37_2
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