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Records and Record Keeping The Key to Profitability

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 Keeping The Key to Profitability

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  1. Records and Record KeepingThe Key to Profitability David Fernandez Extension Livestock Specialist University of Arkansas Pine Bluff

  2. 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?

  3. 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?

  4. 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

  5. Why are records important? • Help you make better decisions • Setting appropriate goals • Tracking your progress • Selecting sires • Reducing expenses • Culling unproductive cows

  6. A Rancher’s Results Big Cattle Buyer Boondocks, USA Your Name Here

  7. 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

  8. Herd Health Records • Vaccination dates • Vaccinations given • Deworming dates • Illnesses • Dates • Treatments • Outcome

  9. Cow Performance Records • Hip height and pre-breeding weight • Breeding and calving dates • Pre-calving body condition score

  10. Cow Performance Records • Calf birth dates and weights (if possible) • Calf weaning weights and dates weaned • Calf hip heights and muscling scores

  11. Financial Records • Variable costs • Labor • Feed • Veterinary and medical • Fixed costs • Land/Loan payments • Machinery • Depreciation

  12. Sample Record Forms

  13. Julian Calendar

  14. Example at Calving

  15. Example at Weaning

  16. Example Results

  17. ExampleReplacement Heifer Selection Decisions Compare to mature cows’ ratios

  18. Questions?

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