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Estimating Returns From Past Investments Into Beef Cattle Genetics Rd&E In Australia

Author

Listed:
  • Griffith, Garry R.
  • Farquharson, Robert J.
  • Barwick, Steve
  • Banks, Rob
  • Holmes, Bill

Abstract

This study aimed at estimating the costs and benefits of all beef cattle genetic improvement activity, across Australia, over the period 1970 to the present. The total cumulative Present Value (PV) of investments by industry, government and other agencies into selection, crossbreeding and grading up since 1963, and of imported genetics, was estimated to be $340m (in $2001 at a 7% discount rate). Using a suite of genetic evaluation models, farming systems models and an industry-level model, the cumulative PV of industry returns were estimated. Within-breed selection generated $944m; crossbreeding in southern Australia $255m; changing breed composition in southern Australia $62m; and changing breed composition in northern Australia $8.1bn. The benefit/cost ratio for this investment was 28:1 over the last 30 years.

Suggested Citation

  • Griffith, Garry R. & Farquharson, Robert J. & Barwick, Steve & Banks, Rob & Holmes, Bill, 2002. "Estimating Returns From Past Investments Into Beef Cattle Genetics Rd&E In Australia," 2003 Annual Meeting, August 16-22, 2003, Durban, South Africa 25864, International Association of Agricultural Economists.
    • Handle: RePEc:ags:iaae03:25864
    DOI: 10.22004/ag.econ.25864
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    References listed on IDEAS

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    1. Zhao, Xueyan & Mullen, John D. & Griffith, Garry R. & Griffiths, William E. & Piggott, Roley R., 2000. "An Equilibrium Displacement Model of the Australian Beef Industry," Research Reports 28007, New South Wales Department of Primary Industries Research Economists.
    2. Donald A. Walker (ed.), 2000. "Equilibrium," Books, Edward Elgar Publishing, volume 0, number 1585.
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