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One of the largest budget items for ranch families is health insurance costs. We have heard of several ranchers in Nebraska paying over $40,000 in health insurance premiums.
Recordkeeping for cow-calf producers is an essential part of running a successful operation, regardless of size or business goals. While almost all producers keep an animal inventory to track purchases and sales, many also choose to maintain production records to facilitate better decision-making.
Suggesting that everyone could benefit from using a particular accounting technique is risky. It would have to simplify a job that “everyone” needs to do and save “everyone” a lot of time.
In today’s world of technology and recordkeeping, you can record mountains of information about your cattle herd. Recordkeeping is quick, generally easy, and most programs have a spot for the information you collect.
What does it cost to produce 1 pound of beef from conception to putting it on the plate? Aside from a few economists, most would answer, “I have no idea.”
The current COVID-19 situation has temporarily changed a great deal about our daily lives. For many farm and ranch families, it means the son or daughter that had been going to high school or college is now at home and helping with the chores. Why not take advantage of the technology skills these young people could bring to the operation?
Cattle producers are surrounded by data. Whether it’s weaning weights, days open or number of cattle on a given pasture, the data we collect on our operations is only beneficial if we utilize it.
It is of no surprise when talking to cow-calf producers that overhead costs are a significant concern as there are substantial expenses that need to be covered by the beef cow herd. However, the productivity and profitability of the cow-calf enterprise can be greatly impacted by our management and evaluation decisions.
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