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PLANNING A PIG ENTERPRISE WITH CONSIDERATION OF VARIATIONS IN PRICES, FEED COSTS AND GRADING
Author(s) -
STEWART J. D.,
THORNTON D. S.
Publication year - 1961
Publication title -
journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.157
H-Index - 61
eISSN - 1477-9552
pISSN - 0021-857X
DOI - 10.1111/j.1477-9552.1961.tb01701.x
Subject(s) - grading (engineering) , profit (economics) , production cost , linear programming , economics , incentive , operations management , yield (engineering) , computer science , agricultural science , business , operations research , microeconomics , agricultural economics , mathematics , environmental science , engineering , algorithm , mechanical engineering , civil engineering , materials science , metallurgy
Summary. A good set of records kept by the fanner allowed precise estimates to be formed of feed and miscellaneous costs, of labour requirements and of the time taken to reach a variety of fat‐pig weights. Using these data a programme was calculated which proved to be stable over wide ranges of possible conversion rates, unit feed costs and prices. The farmer was thereby presented with the clear‐cut choice of changing to a radically different system of production likely to yield a profit some £500 greater than his present system, or of continuing to produce baconers and hoping to improve his grading results. The Linear Programming technique may be said to have clarified considerably the alternative courses of action available.