Dynamic Programming for Feedlot Optimization

C. F. Meyer and R. J. Newett
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C. F. Meyer: University of Missouri, St. Louis
R. J. Newett: Ralston Purina Company, St. Louis, Missouri

Management Science, 1970, vol. 16, issue 6, B410-B426

Abstract: Optimal operation of enterprises engaged in slaughter animal production entails determining -- what initial weight animal should be purchased -- the final selling weight -- the length of completion time -- the number and length of feeding periods within this time -- what ration and its quantity should be fed in each of these periods to balance feed costs, purchase cost of feeders, and time-dependent fixed costs such as yardage, handling, maintenance, and interest against market selling prices in such a way as to maximize total profit. The model presented uses dynamic programming to perform this task, and is structured so as to be functionally independent of any feed consumption-weight gain relationships, making it adaptable to feeding operations for any type of animal.

Date: 1970
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