Paddock selection is an important component of grazing management and is based on either some estimate of pasture mass (cover) or the interval since last grazing for each paddock. Obtaining estimates of cover to guide grazing management can be a time consuming task. A value proposition could assist farmers in deciding whether to invest resources in obtaining such information. A farm-scale simulation exercise was designed to estimate the effect of three levels of knowledge of individual paddock cover on profitability: 1) "perfect knowledge", where cover per paddock is known with perfect accuracy, 2) "imperfect knowledge", where cover per paddock is estimated with an average error of 15%, 3) "low knowledge", where cover is not known, and paddocks are selected based on longest time since last grazing. Grazing management based on imperfect knowledge increased farm operating profit by approximately $385/ha compared with low knowledge, while perfect knowledge added a further $140/ha. The main driver of these results is the level of accuracy in daily feed allocation, which increases with improving knowledge of pasture availability. This allows feed supply and demand to be better matched, resulting in less incidence of under- and over-feeding, higher milk production, and more optimal post-grazing residuals to maximise pasture regrowth. Keywords: modelling, paddock selection, pasture cover
