Economic analysis and stochastic simulation of alternative beef calving and feeding systems in western Canada

Khakbazan, M., Carew, R., Scott, S. L., Chiang, P., Block, H. C., Robins, C., Durunna, O. N. and Huang, J. 2014. Economic analysis and stochastic simulation of alternative beef calving and feeding systems in western Canada. Can. J. Anim. Sci. 94: 299–311. Biological and economic data from three fi...

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Published in:Canadian journal of plant science 2014, Vol.94 (2), p.299-311
Main Authors: Khakbazan, Mohammad, Richard Carew, Shannon L. Scott, Paul Chiang, Hushton C. Block, Clayton Robins, Obioha N. Durunna, John Huang
Format: Article
Language:English
Subjects:
alternative livestock
average daily gain
beef
calving
calving time
cattle feeding
Cost
feeder cattle
feeding system
finishing
grazing
labor
management systems
meat production
medicine
Monte Carlo method
pastures
prices
profitability
return
risk
risk simulation
steers
viability
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Summary:Khakbazan, M., Carew, R., Scott, S. L., Chiang, P., Block, H. C., Robins, C., Durunna, O. N. and Huang, J. 2014. Economic analysis and stochastic simulation of alternative beef calving and feeding systems in western Canada. Can. J. Anim. Sci. 94: 299–311. Biological and economic data from three field-experimental sites in Manitoba (Brandon Research Centre) and Saskatchewan (Western Beef Development Centre; Semi-Arid Prairie Agriculture Research Centre) were used to determine the economic and financial benefits of alternative beef calving and feeding systems. Stochastic budgets and Monte Carlo simulation techniques were used to evaluate the profitability and risk levels of four alternative livestock beef management systems: early-calving/rapid-gain post-weaning feeding (ER), late-calving/rapid-gain post-weaning feeding (LR), early-calving/slow-gain post-weaning feeding (ES), and late-calving/slow-gain post-weaning feeding (LS). Economic budgets were constructed to evaluate the viability of different phases of beef production including backgrounding, pasture, swath grazing and finishing. Statistical analysis considered operational costs (feed, yardage, implants, medicine, labor, marketing, and other costs), price variables (fed-steer, feeder cattle, and grid pricing premiums/discounts) and steer performance measures such as average daily gain (ADG). Results from the simulation analysis revealed that late-calving systems provided higher returns for livestock producers, while rapid-feeding systems were more preferable for producers who were more risk-averse.
ISSN:1918-1833
1918-1833