Using seasonal stochastic dynamic programming to identify optimal management decisions that achieve maximum economic sustainable yields from grasslands under climate risk

The model was applied to a representative farm in the high rainfall temperate pasture zone of Australia and the pasture states under which tactical grazing rest, low stocking rates and pasture re-sowing are optimal were identified. Results provide useful general insights as well as specific prescriptions for the case study farm. The framework developed in this paper provides a means of identifying optimal tactical and strategic decisions that achieve maximum sustainable economic yields from grazing systems.