Elements of Cattle Feeding Profitability in Midwest Feedlots
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The Department of Economic Science was founded in 1898 to teach economic theory as a truth of industrial life, and was very much concerned with applying economics to business and industry, particularly agriculture. Between 1910 and 1967 it showed the growing influence of other social studies, such as sociology, history, and political science. Today it encompasses the majors of Agricultural Business (preparing for agricultural finance and management), Business Economics, and Economics (for advanced studies in business or economics or for careers in financing, management, insurance, etc).
History
The Department of Economic Science was founded in 1898 under the Division of Industrial Science (later College of Liberal Arts and Sciences); it became co-directed by the Division of Agriculture in 1919. In 1910 it became the Department of Economics and Political Science. In 1913 it became the Department of Applied Economics and Social Science; in 1924 it became the Department of Economics, History, and Sociology; in 1931 it became the Department of Economics and Sociology. In 1967 it became the Department of Economics, and in 2007 it became co-directed by the Colleges of Agriculture and Life Sciences, Liberal Arts and Sciences, and Business.
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1898–present
Historical Names
- Department of Economic Science (1898–1910)
- Department of Economics and Political Science (1910-1913)
- Department of Applied Economics and Social Science (1913–1924)
- Department of Economics, History and Sociology (1924–1931)
- Department of Economics and Sociology (1931–1967)
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- College of Agricultural and Life Sciences (parent college)
- College of Liberal Arts and Sciences (parent college)
- College of Business (parent college)
The Department of Animal Science originally concerned itself with teaching the selection, breeding, feeding and care of livestock. Today it continues this study of the symbiotic relationship between animals and humans, with practical focuses on agribusiness, science, and animal management.
History
The Department of Animal Husbandry was established in 1898. The name of the department was changed to the Department of Animal Science in 1962. The Department of Poultry Science was merged into the department in 1971.
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- Department of Animal Husbandry (1898–1962)
- College of Agricultural and Life Sciences (parent college)
- Department of Poultry Science (merged with, 1971)
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Abstract
Conventional wisdom and earlier research have concluded that cattle feeding profitability is more determined by feeder and fed cattle prices than by animal performance. This study examined cross-sectional and time-series data from over 1600 pens of cattle in more than 220 feedlots in the upper Midwest where weather and lot conditions are thought to influence feedlot profitability. In addition to input and output prices and animal performance, other factors found to significantly impact cattle feeding profitability were sex, placement weight, facility design, and to a lesser extent placement season.
Comments
This is an article from Journal of Agricultural and Applied Economics 31 (1999): 349, doi:10.1017/S1074070800008622. Posted with permission.