Development of Inventory Models to Determine Feed Reserves for Beef-Cattle Production under Unstable Climatic Conditions

M. Afzal, J. H. McCoy and F. Orazem

American Journal of Agricultural Economics, 1965, vol. 47, issue 4, 948-962

Abstract: An investigation is made of the use of inventory models for determining the optimum quantity of feed reserves under drought conditions. The costs and revenues associated with beef-cattle production and the carrying of reserve feed supplies are combined with a probability distribution of drought occurrence in an expected-net-revenue function. Variation in the quantity of feed stored permits the maximization of expected net revenue, which is the criterion for determining optimal levels of feed reserves. The study recognizes the effect of different stocking rates on range and pasture carrying capacity. Several adaptations indicate that various strategies practiced by farmers and ranchers during drought periods are susceptible to quantification and introduction into this type of analysis.

Date: 1965
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://hdl.handle.net/10.2307/1236336 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:47:y:1965:i:4:p:948-962.

Access Statistics for this article

American Journal of Agricultural Economics is currently edited by Madhu Khanna, Brian E. Roe, James Vercammen and JunJie Wu

More articles in American Journal of Agricultural Economics from Agricultural and Applied Economics Association Contact information at EDIRC.
Bibliographic data for series maintained by Oxford University Press ().