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Records and Record Keeping The Key to Profitability. David Fernandez Extension Livestock Specialist University of Arkansas Pine Bluff. Why are records important?. Allow you to analyze your operation What expenses are excessive? Where are your greatest profits?
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Records and Record KeepingThe Key to Profitability David Fernandez Extension Livestock Specialist University of Arkansas Pine Bluff
Why are records important? • Allow you to analyze your operation • What expenses are excessive? • Where are your greatest profits? • Where should you focus your efforts and when? • Should you expand your operation?
Why are records important? • Tell you if you are meeting your goals • Are your cows producing the kind of calf you want? • Is your forage system meeting your grazing needs? • Are you maximizing your income/meeting your lifestyle needs?
Why are records important? • Can be used to obtain financing • Demonstrate how your loan will meet your production goals • Clearly demonstrate income-generating potential • Demonstrate ability to repay the loan • You may learn you don’t need the loan
Why are records important? • Help you make better decisions • Setting appropriate goals • Tracking your progress • Selecting sires • Reducing expenses • Culling unproductive cows
A Rancher’s Results Big Cattle Buyer Boondocks, USA Your Name Here
What records should I keep? • Records you will use • Sounds obvious • Easy to get bogged down in too much information • Depends upon YOUR goals • Herd health records • Cow performance records • Financial records
Herd Health Records • Vaccination dates • Vaccinations given • Deworming dates • Illnesses • Dates • Treatments • Outcome
Cow Performance Records • Hip height and pre-breeding weight • Breeding and calving dates • Pre-calving body condition score
Cow Performance Records • Calf birth dates and weights (if possible) • Calf weaning weights and dates weaned • Calf hip heights and muscling scores
Financial Records • Variable costs • Labor • Feed • Veterinary and medical • Fixed costs • Land/Loan payments • Machinery • Depreciation
ExampleReplacement Heifer Selection Decisions Compare to mature cows’ ratios