Dynamics of Beef Cow Herd Size: An Inventory Approach

Abstract

Cow herd inventories are the primary determinant of beef supply. The principal decisions determining inventories are studied in a dynamic framework. Short‐run and long‐run impacts of one‐time shocks in economic factors influencing culling and replacement decisions are estimated via simulations. Changes in economic factors have the greatest impact on younger members of the herd. These changes have long‐term impacts on inventories through their influence on age dynamics. Impacts on age dynamics could influence the cattle cycle.