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What is Livestock Management?
Definition: Livestock Management
Livestock management entails managing cattle and supervising farm workers. Livestock management calls for knowledge of animal technology and animal husbandry, in addition to accurate commercial enterprise sense. Many livestock managers have to additionally maintain economic information for his or her operations.
The definition of livestock management is the exercise of efficient, productive, and moral care-taking of any agricultural associated livestock. There are many practices which might be used during livestock manufacturing including synthetic insemination, rotational grazing, castration, weaning, supplementing rations, and administering medicine.
Basic Principles of Livestock Management
Principle 1: Farm Management
The Law of Diminishing Marginal Returns
This law states that “A growth withinside the capital and hard work implemented to the cultivation of land reasons in well known a loss than the proportionate growth in the quantity of produce raised until it takes place to coincide with a development withinside the artwork of agriculture.”
There are three stages of the law of diminishing returns. The positions of the parameters i.e. TP (Total Product), AP (Average Product) MP (Marginal Product) and EP (Elasticity stages of production (see production function curve) are as stated below.
Stage -I (Irrational zone)
- This stage starts from origin and ends where AF & MF curves intersect each other.
- The TP is increasing at an increasing rate then at decreasing rate.
- PP and MP both increase but MP is greater than IP.
- The EP is greater than 1.
Stage – II (Rational zone)
- It starts where PP & MP intersect each other and EP = 1. It ends when MP = 0
- TP increases but at a decreasing rate.
- MP starts to decline continuously and AP also starts to decline but it is greater than MP
- The elasticity of production (EP) is greater than zero but less than 1.
- This stage starts when MP is zero and TP is at maximum.
- TP starts to decline and it declines continuously.
- MP becomes negative, remains positive.
- EP is always less than zero.
Principle 2: Farm Management
Law of Equimarginal Returns
The Law of Equimarginal Returns is concerned with the allocation of the confined quantity of sources amongst unique enterprises. The regulation states that “earnings are maximized through the use of a useful resource in this type of manner that the marginal returns from that useful resource are identical in all cases.”
Principle 3: Farm Management
Law of Substitution or Principle of Least Cost Combination
The goal of income maximization may be executed with the aid of using ways, one with the aid of using growing output and different with the aid of minimizing the fee. The minimization of fee may be feasible with the aid of identifying using multiple aid in substitution of different resources.
Principle 4: Farm Management
Principle of Combining Enterprise
This principle is very vital because it describes the product – product relationship. Here, rather than thinking about the allocation of inputs amongst enterprises, we discuss enterprise aggregate or product blend concerning product relationship.
There can be various relationships that can exist between enterprises or products −
Joint Product − Two or more than two products are produced in the same production process. For example - Paddy and straw (Agricultural products).
Complementary Productions − In this case the relationships are immediately proportional. With the boom in a single product there's additionally a boom in different products.
For example − The cultivation of leguminous vegetation observed with the aid of using cereals offers this relationship.
Supplementary Productions − In this case, an increase in a single product does now no longer have an effect on every difference or they're impartial and if the connection is there it's miles supplementary. For example - Crop manufacturing and dairy enterprise.
Competitive Relationships − Here two products are said to be competitive when increase one needed to be reduction in other product. For example - Two cereal crops.
Principle 5: Farm Management
The Law of Opportunity Cost
- The opportunity cost is also called an alternative cost.
- Opportunity Cost is the earning from the next best alternative sacrificed.
Best Practices in Livestock Management
Best practices to put in place for productivity
- Plan and map the farm's financial situation, assets and needs, in an effort to be capable of examine whether or not to lower manufacturing to keep away from having outstanding quantities of manufacturing in extra that can not be traded and sold, or worse may also result in large cullings of cattle in an effort to decrease costs.
- Promote the use of social media to put it on the market farm and livestock merchandise and locate new customers or customers, higher if withinside the nearby of the farm.
- Apply unique reductions in retail promoting or toward ordinary and relied on customers if possible.
Livestock management managing cattle and supervising the workers. They use productivity to promote the use of social media. Many practices used in livestock management.
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