Determining Optimal Replacement Age of Beef Cows in the Presence of Stochastic Elements*

Ernest Bentley, James R. Waters and C. Shumway

Journal of Agricultural and Applied Economics, 1976, vol. 8, issue 2, 13-18

Abstract: Feeder calf producers face a problem common to all owners of productive assets: how long should the asset (brood cow) be used before it is replaced? Expected productivity of a brood cow can be measured by two parameters: (1) the likelihood that she will wean a calf, and (2) its anticipated weight when weaned. Both are independent functions of the cow's age which decline annually after reaching peaks in the early years of her productive life. The calf producer who expects to maximize profits in the long run must choose an optimal rate of replacement for his brood cows.

Date: 1976
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Journal Article: DETERMINING OPTIMAL REPLACEMENT AGE OF BEEF COWS IN THE PRESENCE OF STOCHASTIC ELEMENTS (1976)
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