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

Autor:	Randall D. Little, Kalyn T. Coatney, Thu Dinh, Josh G. Maples, Madeline Poss, Daniel Rivera
Rok vydání:	2021
Předmět:	Economics and Econometrics Agricultural science Fed cattle Value (economics) Agricultural and Biological Sciences (miscellaneous) Mathematics
Zdroj:	Journal of Agricultural and Applied Economics. 54:28-52
ISSN:	2056-7405 1074-0708
DOI:	10.1017/aae.2021.27
Popis:	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.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::f25b46ffa884b4e7033c5a1c1d928d4c https://doi.org/10.1017/aae.2021.27 Zobrazit plný text záznamu