Open Cow Replacement Decisions: an Application of Asset Replacement Theory
Gregory A. Ibendahl and
John Anderson ()
No 36184, 2001 Annual Meeting, July 8-11, 2001, Logan, Utah from Western Agricultural Economics Association
Beef producers must decide what to do with a cow that fails to conceive during the breeding season. Keeping the open cow results in a years expenses without any revenue. Replacing the open cow with a bred heifer provides immediate revenue although it will take a few years before the heifer reaches peak productivity. A net present value framework is employed to examine this decision. The problem is unique because the open cow and the replacement heifer have different life spans. Finding a common timeframe is impossible since both alternatives will eventually employ replacement heifers if a long enough time frame is considered.
Keywords: Livestock; Production/Industries (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:waealo:36184
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