The following graph illustrates graphically the effect of a hypothetical change in supply of tiger products due to the introduction of farmed stocks.

The left panel shows a simplistic supply / demand interaction, which we can use to illustrate the “no farming” option.  We use a standard downward-sloping demand curve and upward-sloping supply curve, which intersect at a point where the average market price is P and the quantity traded is A.

The right panel shows the effect of an additional source of supply from farmed animals.  The supply curve shifts out (from S0 to S1) and, as a result, the total quantity sold increases from (A to B), but the price falls and the quantity supplied from wild-poached animals falls (from A to C).  The remaining quantity (C-B) is supplied from farmed stock.

Note that this positive effect (gains for consumers, farmers, and tiger lovers) could potentially be offset if the demand curve shifts outwards (in the direction of the thick arrow).  In this case, depending on the extent of the shift, the price would again creep up, and poaching pressure would intensify.  For a sufficiently large shift, the new price could be even higher than the old one, and farming would be bad for conservation.  However, this is an exceptional outcome.