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Modeling Dynamic Agricultural Production Response: The Case of Swine Production

Author

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  • Chavas, J. P.
  • Kliebenstein, James

Abstract

Crop and livestock production processes are typically dynamic and involve growing biological assets which are eventually marketed. This study presents a production model of biological growth based on a differential equation specification. Economic implications for optimal input use and optimal replacement policy are discussed in this context. The approach is applied to the growing-finishing phase of a swine production enterprise. The results demonstrate that the knowledge of the growth function is crucial in evaluating dynamic production decisions.

Suggested Citation

  • Chavas, J. P. & Kliebenstein, James, 1985. "Modeling Dynamic Agricultural Production Response: The Case of Swine Production," Staff General Research Papers Archive 10631, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genres:10631
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    Cited by:

    1. Chen, Gang & Roberts, Matthew C., 2004. "A Dynamic Programming Framework For Using Weather Derivatives To Manage Dairy Profit Risk," 2004 Annual meeting, August 1-4, Denver, CO 20171, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Parsons, Jay R. & Hoag, Dana L. & Frasier, W. Marshall & Koontz, Stephen R., 2002. "Variable Growth Impacts On Optimal Market Timing In All-Out Production Systems," 2002 Annual Meeting, July 28-31, 2002, Long Beach, California 36610, Western Agricultural Economics Association.
    3. Roemen, J.H.J. & de Klein, J., 1998. "An optimal delivery strategy for porkers with heterogeneity and dependent prices," Research Memorandum FEW 763, Tilburg University, School of Economics and Management.
    4. Hennessy, David A., 2006. "Feeding and the Equilibrium Feeder Animal Price-Weight Schedule," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 31(02), August.
    5. Eswaramoorthy, K., 1991. "U.S. livestock production and factor demand: a multiproduct dynamic dual approach," ISU General Staff Papers 1991010108000010523, Iowa State University, Department of Economics.
    6. Trapp, James N., 1989. "The Dawning Of The Age Of Dynamic Theory: Its Implications For Agricultural Economics Research And Teaching," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 21(01), July.
    7. Li, Ning & Preckel, Paul V. & Foster, Kenneth A. & Schinckel, Allan P., 2003. "Analysis of Economically Optimal Nutrition and Marketing Strategies for Paylean® Usage in Hog Production," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 28(02), August.
    8. Kennedy, John O. S., 1988. "Principles of dynamic optimization in resource management," Agricultural Economics, Blackwell, vol. 2(1), pages 57-72, June.
    9. Roka, Fritz M. & Hoag, Dana L., 1996. "Manure Value And Liveweight Swine Decisions," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 28(01), July.
    10. Greer, Heather C. & Trapp, James N., 2000. "Impact Of Alternative Grid Pricing Structures On Cattle Marketing Decisions," 2000 Conference, April 17-18 2000, Chicago, Illinois 18926, NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
    11. Elisa Gatto & Guido Signorino, 2011. "Long-run relationship between crop-biodiversity and cereal production under the CAP reform: evidence from Italian regions," ERSA conference papers ersa11p964, European Regional Science Association.
    12. repec:pal:jorsoc:v:60:y:2009:i:5:d:10.1057_palgrave.jors.2602599 is not listed on IDEAS
    13. Mayer, D. G. & Belward, J. A. & Burrage, K., 1996. "Use of advanced techniques to optimize a multi-dimensional dairy model," Agricultural Systems, Elsevier, vol. 50(3), pages 239-253.
    14. Campos Labbé, Mónica, 2003. "The economics of technologies in Swedish pig production," Department of Economics publications 459, Swedish University of Agricultural Sciences, Department of Economics.
    15. Boland, Michael A. & Foster, Kenneth A. & Preckel, Paul V., 1999. "Nutrition and the Economics of Swine Management," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 31(01), pages 83-96, April.
    16. Schoney, R. A., 1990. "An Analysis of Wheat Supply Response Under Risk and Uncertainty," Working Papers 244030, Agriculture and Agri-Food Canada.
    17. Elisa Gatto & Guido Signorino, 2014. "Crop-diversity and Cereal Production under the CAP Reform: Evidence from Italy," SCIENZE REGIONALI, FrancoAngeli Editore, vol. 2014(3), pages 35-50.
    18. Govindasamy, Ramu & Liu, Donald J. & Kliebenstein, James B., 1993. "Impacts Of Pst On Optimal Production And Marketing Decisions Of A Grow-Finish Hog Farm Operation," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 22(2), October.
    19. repec:eee:agisys:v:162:y:2018:i:c:p:34-45 is not listed on IDEAS
    20. Meyer, Steven Roger, 1987. "The value of near infrared reflectance measurement of feedgrain nutrient composition," ISU General Staff Papers 1987010108000012708, Iowa State University, Department of Economics.
    21. Lawrence, John D. & Kaylen, Michael S., 1990. "Risk Management For Livestock Producers: Hedging And Contract Production," Staff Papers 13496, University of Minnesota, Department of Applied Economics.
    22. Parsons, Jay R. & Hoag, Dana L. & Koontz, Stephen R., 2001. "Economics Of Variable Swine Growth," 2001 Annual Meeting, July 8-11, 2001, Logan, Utah 36082, Western Agricultural Economics Association.
    23. Mariano J. Gonzalez-Alcorta & Jeffrey H. Dorfman & Gene M. Pesti, 1994. "Maximizing profit in broiler production as prices change: A simple approximation with practical value," Agribusiness, John Wiley & Sons, Ltd., vol. 10(5), pages 389-399.
    24. Pourmoayed, Reza & Nielsen, Lars Relund & Kristensen, Anders Ringgaard, 2016. "A hierarchical Markov decision process modeling feeding and marketing decisions of growing pigs," European Journal of Operational Research, Elsevier, vol. 250(3), pages 925-938.

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