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Analyzing The Effect Of Changing Feed-Beef Price Relationships On Beef Production Management Strategies In Hawaii: A Dynamic Programming Approach

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  • van Poollen, H. Walter
  • Leung, PingSun

Abstract

A dynamic programming approach was used to evaluate the effect of changing the feed input to product price relationship on the beef production management decision process. The dynamic programming model consists of nine submodels describing and analyzing the time-dependent beef production management decision process. The model incorporates biological functions and economic principles. Results clearly showed the importance of the feed-beef price relationships in management decision making. Optimal beef production management strategies were generally consistent with beef production management practices followed in Hawaii under those feed-beef price relationships.

Suggested Citation

  • van Poollen, H. Walter & Leung, PingSun, 1986. "Analyzing The Effect Of Changing Feed-Beef Price Relationships On Beef Production Management Strategies In Hawaii: A Dynamic Programming Approach," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 11(1), pages 1-9, July.
    • Handle: RePEc:ags:wjagec:32538
    DOI: 10.22004/ag.econ.32538
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    References listed on IDEAS

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    1. Harry P. Mapp & Craig L. Dobbins, 1976. "Implications of Rising Energy Costs for Irrigated Farms in the Oklahoma Panhandle," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 58(5), pages 971-977.
    2. C. F. Meyer & R. J. Newett, 1970. "Dynamic Programming for Feedlot Optimization," Management Science, INFORMS, vol. 16(6), pages 410-426, February.
    3. Happ, Harry P. Jr. & Dobbins, Craig L., 1976. "Implications Of Rising Energy Costs For Irrigated Farms In The Oklahoma Panhandle," 1976 Annual Meeting, August 15-18, State College, Pennsylvania 283910, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    4. Brokken, Ray F. & O'Connor, Carl W. & Nordblom, Thomas L., 1980. "Costs of Reducing Grain Feeding of Beef Cattle," Agricultural Economic Reports 307887, United States Department of Agriculture, Economic Research Service.
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    Keywords

    Livestock Production/Industries;

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