TY - JOUR
T1 - DYNAMIC FARM—LEVEL PLANNING MODEL FOR BEEF FEEDLOT PRODUCTION AND MARKETING
AU - Feinerman, E.
AU - Siegel, P. B.
PY - 1988/9
Y1 - 1988/9
N2 - The study is aimed at formulating and empirically applying a dynamic farm‐level model for the planning of optimal beef feedlot production and marketing strategies. A dynamic programming (DP) model is used to calculate the optimal feeding schedule (i.e. liveweight gain sequence), market liveweight and stock replacement for a single bull calf over a one‐year planning period, taking into account seasonal fluctuations of planning parameters such as beef prices, feeding costs, nutritional requirements, and stock replacement costs and obtainability. The DP model includes a linear programming (LP) subroutine for calculating least‐cost feed rations. The planning model is empirically applied using data and assumptions representative offeedlots in the Coastal Plain region of Israel where most feedlot production and marketing decisions are made by ‘rule‐of‐thumb’ using set liveweight gain sequences, market standards and stock replacement decisions. The empirical findings indicate that the profitability of feedlot production and marketing could be increased by an average of 10% over that obtained from ‘rule‐of‐thumb’ decision rules.
AB - The study is aimed at formulating and empirically applying a dynamic farm‐level model for the planning of optimal beef feedlot production and marketing strategies. A dynamic programming (DP) model is used to calculate the optimal feeding schedule (i.e. liveweight gain sequence), market liveweight and stock replacement for a single bull calf over a one‐year planning period, taking into account seasonal fluctuations of planning parameters such as beef prices, feeding costs, nutritional requirements, and stock replacement costs and obtainability. The DP model includes a linear programming (LP) subroutine for calculating least‐cost feed rations. The planning model is empirically applied using data and assumptions representative offeedlots in the Coastal Plain region of Israel where most feedlot production and marketing decisions are made by ‘rule‐of‐thumb’ using set liveweight gain sequences, market standards and stock replacement decisions. The empirical findings indicate that the profitability of feedlot production and marketing could be increased by an average of 10% over that obtained from ‘rule‐of‐thumb’ decision rules.
UR - http://www.scopus.com/inward/record.url?scp=0024155631&partnerID=8YFLogxK
U2 - 10.1111/j.1477-9552.1988.tb00601.x
DO - 10.1111/j.1477-9552.1988.tb00601.x
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AN - SCOPUS:0024155631
SN - 0021-857X
VL - 39
SP - 413
EP - 425
JO - Journal of Agricultural Economics
JF - Journal of Agricultural Economics
IS - 3
ER -