Marketing Fed Cattle Based on Expectations of the Underlying Carcass Value Dynamics.

Autor:	Poss, Madeline, Coatney, Kalyn T., Rivera, Daniel, Dinh, Thu, Little, Randall D., Maples, Josh G.
Předmět:	CATTLE marketing CATTLE feeding & feeds MARKET timing STRUCTURAL models OPPORTUNITY costs PROFITABILITY MEAT quality
Zdroj:	Journal of Agricultural & Applied Economics (Cambridge University Press); Feb2022, Vol. 54 Issue 1, p28-52, 25p
Abstrakt:	Fed cattle profitability is determined by complicated dynamic processes of body growth, carcass development, and seasonal prices. A structural model is constructed to contend with all these dynamic processes to predict optimal market timing. Informed simulations are conducted and compared to those observed in the data, as well as to a previous model ignoring the evolution of carcass value. The results indicate that significant improvements to profitability are attainable with the new method. The results also indicate the opportunity cost of not accounting for carcass value, even with error, is more severe than when these dynamics are ignored. [ABSTRACT FROM AUTHOR]
Databáze:	Complementary Index
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