ADJUSTMENTS IN A BEEF/SHEEP FARM IN RESPONSE TO THE CATTLE CYCLE: THE POTENTIAL FOR INCREASED AND MORE STABLE INCOME
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A dynamic (multi-period) linear programming model of a beef/sheep farm was used to evaluate the potential for increasing income and for maintaining a specified level of annual income during a cattle cycle. Results indicate that both objectives may be accomplished by adjusting animal numbers in response to changing price ratios: a higher proportion of cows should be kept during the accumulation phase of the cattle cycle, and a higher proportion of ewes should be kept during the liquidation phase.