A MODEL OF THE NEW ZEALAND SHEEP INDUSTRY

The paper presents a model of the New Zealand Sheep Industry which predicts animal numbers in various sex/age categories. The explanatory variables used are the prices of the end products of the industry and time, to represent technological change. Prices are found to have a significant, though dela...

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Bibliographic Details
Published inAustralian Journal of Agricultural Economics Vol. 12; no. 1; pp. 1 - 15
Main Author Rayner, A.C
Format Journal Article
LanguageEnglish
Published 01.06.1968
Edition429
Subjects
Livestock Production/Industries
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Summary:The paper presents a model of the New Zealand Sheep Industry which predicts animal numbers in various sex/age categories. The explanatory variables used are the prices of the end products of the industry and time, to represent technological change. Prices are found to have a significant, though delayed, effect on farmers' stock decisions. Furthermore, the significance of time demonstrates improvements in some forms of animal husbandry. The relative failure of the model's latest predictions emphasizes the importance of irrational optimism in the industry.
DOI:10.22004/ag.econ.22690