MANAGEMENT...
Gauging the Farm's Financial Success
Tax returns are generally a poor way to assess financial performance.
Farm income set records in 2011, with estimated total net income for U.S. farms topping $100 billion, according to USDA economic forecasts. With tax season approaching, this is a good time for individual farmers to take a good look at their own operations' financial performance, says a University of Missouri (MU) Extension agriculture business specialist.
"While many farmers rely on their Schedule F from their tax returns to assess their profitability, tax returns are generally a poor way to assess financial performance," says Whitney Wiegel.
"Because most farmers record income on a cash basis for their taxes, their Schedule F statements do not show amounts for year-to-year changes in inventory, accounts payable or accounts receivable," he said. Read more.
Bedding in the Feedlot
Extension specialists considers pros, cons of bedding cattle
in the feedlot during winter.
"To bed or not to bed?" With apologies to William Shakespeare, that is the question on many feedlot managers' minds as we head into the winter months. Will providing bedding result in enough extra performance to outweigh the additional expenses in both material and labor?
There is research available suggesting advantages to providing bedding during extreme winter weather conditions. In a study conducted in North Dakota at the Carrington Research Extension Center, cattle that were provided bedding gained faster [0.86 pounds (lb.) increased average daily gain (ADG)] and more efficiently than their non-bedded counterparts. These cattle also had increased carcass weights and a greater percentage reaching the USDA Choice Quality Grade. With today's feed costs and the increased value for carcasses with higher Quality Grades, it's not hard to make the case for providing bedding during very cold or snowy conditions. Read more.
Ron Torell with his wife, Jackie
Cow Camp Chatter
Total mixed rations
When I was a child, my mother served beef stew as an inexpensive means to feed her family of eight while forcing my siblings and me to unknowingly eat our vegetables. By combining beef, onions, potatoes, carrots, peas, corn and an occasional turnip in one pot, that stew was essentially a total mixed ration (TMR). Total cost was less than a quarter per head per day. Relative to a cow-calf operation, let's discuss how a TMR might work for you. Read more.
Condition-score Beef Cows
Assessing cow condition after weaning allows cattlemen to target feedstuffs to get the herd nutritionally ready for breeding season.Most spring-born beef calves have been weaned, marking the time to start managing beef cows so they are at the optimum body-condition score (BCS) before the start of the next calving season, says a University of Missouri (MU) Extension livestock specialist.
The optimum BCS for cows to become pregnant is 5, says Patrick Davis. Their BCS will likely drop by 1 point from calving to breeding, so they should have a BCS of 6 before the next calving season. Identifying your cows' BCS lets you determine how much they need to gain to reach a BCS of 6.
Davis describes how to assign condition score and how to use that knowledge to manage the herd before breeding. Read more.
Consistency Starts with Cow-calf Producer
Uniformity is an elusive, but worthy goal in cattle herds.
Cattle producers — whether they are a one-bull-cow herd owner in southwest Missouri or a 1,000-cow rancher in Montana — like to have a uniform herd.
There's no doubt when it is time to market cattle, a uniform set of calves, stockers, finished cattle or bred heifers attracts more buyer interest, says Eldon Cole, a livestock specialist with University of Missouri (MU) Extension.
"That buyer interest translates into more dollars in the bank account, especially if the cattle are uniformly good. The trick is to make sure they are good," Cole says.
Beef industry analysts even talk about the need to develop more uniformity or consistency in the product. The responsibility for developing consistency starts with the cow-calf operator who produces the feeder calf. Read more.
Kris Ringwall
Beef Talk
We explore the uphill battle of expanding the cow business and a reason it is hard to bring the next generation back into the business.
As we discuss the world of beef, it does not take long to understand that those who own the cattle are at the lower end of the price model.
Should we think about data or just ponder? That is the question. With the holiday season quickly slowing us down, now is a good time to ponder and maybe let the data rest for a bit.
Most of the time, managerial decisions are driven and validated by data. The idea is that data should lead. However, how many times has the question been asked: When will the cow herd expand? Read more.
New Products
Industry affiliates provide a wide array of products and services to assist you on the farm and ranch. Here's an assortment of new products to hit the market recently.
- Heavier, more versatile tillage tools
- Fixed-chamber round baler
- Pet cooling system
- Snow blowers and blades
Angus Advisor
Click here for January herd management tips from cattle experts across the nation. Advice separated by region.
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