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Determining Optimal Replacement Age of Beef Cows in the Presence of Stochastic Elements*

Published online by Cambridge University Press:  28 April 2015

Ernest Bentley ,
James R. Waters  and
C. Richard Shumway
Ernest Bentley
Affiliation:
Department of Agricultural Economics, Texas A&M University
James R. Waters
Affiliation:
Department of Economics, North Carolina State University
C. Richard Shumway
Affiliation:
Department of Agricultural Economics, Texas A&M University
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Extract

Feeder calf producers face a problem common to all owners of productive assets: how long should the asset (brood cow) be used before it is replaced? Expected productivity of a brood cow can be measured by two parameters: (1) the likelihood that she will wean a calf, and (2) its anticipated weight when weaned. Both are independent functions of the cow's age which decline annually after reaching peaks in the early years of her productive life. The calf producer who expects to maximize profits in the long run must choose an optimal rate of replacement for his brood cows.

Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 8 , Issue 2 , December 1976 , pp. 13 - 18
Copyright
Copyright © Southern Agricultural Economics Association 1976

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Footnotes

*

Technical Article No. 12705 of the Texas Agricultural Experiment Station.

References

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