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Ky. Goat Enterprise Overview

Ky. Goat Enterprise Overview. 2007 Agricultural and Natural Resources Update for Agents Lee Meyer, Dept. of Ag. Econ. October 23, 2007. What’s going on Kentucky’s Goat Enterprise?. Goat prices have remained strong nationally and in Kentucky

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Ky. Goat Enterprise Overview

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  1. Ky. Goat Enterprise Overview 2007 Agricultural and Natural Resources Update for Agents Lee Meyer, Dept. of Ag. Econ. October 23, 2007

  2. What’s going on Kentucky’s Goat Enterprise? • Goat prices have remained strong nationally and in Kentucky • Production increasing, but imports account for more than half of the consumption • Prices expected to be steady in 2008, based on strong demand • Greatest potential in graded sales

  3. New Holland Meat Goat Prices40-60 lb., Selection 2

  4. Keys to Goat Markets • Weekly “by-the-head” markets have not only substantially lower prices, but much more variability in “take home $$” • Graded sales have more consistent and somewhat higher prices • Graded sales seem to be catching up with the New Holland market

  5. Major Goat Producing States # of head • Texas 1,030,000 • Tennessee 98,000 • Georgia 88,000 • Oklahoma 73,000 • Kentucky 68,000 • N. Carolina 59,000 Source: USDA 2006 Sheep and Goats Inventory Report

  6. Goat Harvest – top 10 States Source: USDA/NASS 2005 Livestock Slaughter Summary (March 2006)

  7. Goat Supply Issues: • Domestic Production • Increasing Steadily • Up 3% to 749,000. hd. In 2006 • (Sheep slaughter almost 5X as large) • Trend expected to continue • Imports • 21 mill. Lbs. (2004) • Almost ½ of U.S. production

  8. Ky’s Goat Industry • No. of Producers 2,550 • No. of Goats 68,000 (+7%) • Avg. Herd Size 25-30goats/flock • Comparison: • 40,000 beef farms 3,000 beef dairies • 1,300 hog farms 600? Sheep farms • Sources: USDA, Ky Ag. Stats, Ag. Econ. Survey; 2006 USDA Sheep and Goat Report

  9. Ky. Goat Budgets

  10. Ky. Goat Budgets - Economics Breakeven: 10% higher sale prices Hay at $50/ton; pasture at $10/doe

  11. Questions? Discussion? • Productivity? • Feed sources/management? • Markets and market development? • Roles in small farms?

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