| Abstract: | Much has been written about feeding eficiency as a major influence on projits in livestock production. Feed costs are shown to be the largest single item of cost and feeding eficiency to hinge on the twin problems of ascertaining the best level of yield for which to feed and of selecting those, feedstufs that produce the yield at least cost. Having demonstrated the incontrovertible logic of marginal analysis in the solution of these problems, agricultural economists tend to abandon the farmer to the task of putting theory into practice. While it is not disputed that a knowledge of principles may assist producers by delineating the information that is ideally required, the gul/ that exists betmeen theoretical principles and their practical application is a very real one, and is the concern of this paper in respect of the determination of optimal levels of output. After reviewing the manner in which the relevant theory applies to diferent types of livestock production practical problems are considered and possible solutions discussed. |
