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Maximum Profit Livestock Rations That Include Wheat

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  • E. E. Weeks

Abstract

This article reports some results of a phase of work at Washington State University which was designed to estimate conditions under which wheat would be fed to livestock. The linear programming models developed for this study maximize returns net of feed costs by simultaneous selection of the animals to be fed and their rations. Solutions were obtained by parametrically varying wheat price. The "breakeven" prices for including wheat in the livestock rations ranged from $1.28 per bushel for lambs to $1.35 per bushel for fattening hogs, with those for yearling steers at $1.33 and sows at $1.30 per bushel. For substantial parts of the rations, wheat appears nearly perfectly substitutable with competitive feed grains. Changing the price of wheat from zero to its "breakeven" prices changes the marginal opportunity costs of the livestock fattening alternatives.

Suggested Citation

  • E. E. Weeks, 1965. "Maximum Profit Livestock Rations That Include Wheat," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 47(3), pages 669-680.
  • Handle: RePEc:oup:ajagec:v:47:y:1965:i:3:p:669-680.
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    File URL: http://hdl.handle.net/10.2307/1236280
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    Cited by:

    1. Friend, Reed E., 1971. "Use of Wheat for Feed in the European Economic Community, with Projections to 1975," Foreign Agricultural Economic Report (FAER) 145567, United States Department of Agriculture, Economic Research Service.
    2. Jensen, Harald R., 1977. "PART I. Farm Management and Production Economics, 1946-70," AAEA Monographs, Agricultural and Applied Economics Association, number 337213, january.

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