Cow-Calf Cost of Production Workshops to be held in the Panhandle
The Cow-Calf Cost of Production Workshops will provide a hands-on learning experience for producers to learn how to calculate a unit cost of production for a cow-calf operation. The two-day workshops will be held on November 29-30 at the 4-H Building in Kimball from 8:30am – 4:00pm and December 6-7 in Arthur at the Fairgrounds from 8:30am - 4:00pm.
Having information to make effective business decisions is important for ranch success. Enterprise analysis and unit cost of production (UCOP) are tools that can help ranchers identify where value is being created on the ranch, where costs are occurring, and what changes could be made to improve profit.
For cow-calf producers, UCOP is figured as cost per pound of weaned calf. Knowing what it costs to develop a bred heifer, harvest a ton of hay or put a pound of gain on a stocker, or a yearling are valuable information for the ranch business manager.
It takes time to set up and calculate a UCOP, but the benefits are:
? Knowing what present costs are.
? Projecting what unit cost of production will be in 2023.
? Identifying opportunities to improve profitability.
? Using information to make management and marketing decisions.
Participants in the workshops will work through a sample ranch to determine the profitability of four common ranch enterprises: cow-calf, stockers/breeding heifers, hay, and land. Participants will go through the steps of analyzing costs and calculating what it costs to produce a unit of product for each enterprise. Participants will also learn how to identify how changes could improve ranch profitability.
Sound difficult? Hands-on, group activities, and examples of how to calculate key numbers will help participants through the process. Participants will receive access to Excel® spreadsheet templates that can help them analyze cost of production for their own operation. Follow-up consultation is available after the workshops.
The workshops are limited to 30 people, please pre-register one week before the program to ensure space is available and to be included in the meal count. The cost of the workshop is $50 per person and payment is due the day of the workshop. To register for the Kimball workshop contact Aaron Berger at 308-235-3122 or [email protected]. To register for the Arthur workshop contact Randy Saner at 308-532-2683 or [email protected].