Premium
Framework for Economic Analysis of Grain versus Harvested Roughage for Feedlot Cattle
Author(s) -
Brokken Ray F.,
Dinius D. A.,
Hammonds T. M.,
Valpey John
Publication year - 1976
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1238975
Subject(s) - feedlot , profit (economics) , range (aeronautics) , agricultural engineering , zoology , nutrient , mathematics , agronomy , environmental science , agricultural science , economics , agricultural economics , biology , microeconomics , ecology , materials science , engineering , composite material
Traditional models for assessing technical and economic efficiency of cattle feeding were found inadequate. An alternative framework is developed for estimating effects of changes in ration nutrient concentration on animal performance under a range of production conditions and types of animals. The framework is incorporated in a dynamic profit function and its use discussed and demonstrated under various optimizing criteria. High energy rations remained economical even at relatively high grain prices. This framework implies sigmoid shaped grain‐roughage isoquants: concave to the origin over the finishing range of grain‐roughage ratios, and convex at lower grain‐roughage ratios.