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3. 2023 Extension Risk Management Education National Conference

Cattle Marketing and Grading Workshop

Rachel Hopkins

Summary

Cattle Marketing & Grading Workshop is a multi-group event with the Department of Agriculture, local sale barn and MU Extension teaming up to address marketing and production risk livestock producers face. The Department of Agriculture provides instructions for grading cattle. MU ag business specialists go over important calculations such as return on investment, cost of gain and value of gain. We look at the value of seasonal price index of 500-600# steer calves and what influences the price change through the year. Afterward, different scenarios are discussed and we look at which scenarios return the most dollars. The first scenario set is weaned calves. Three different options are given: sell at weaning, wean/background for 30 days and wean/background for 100 days. At the end of each scenario the COG, VOG and ROI is calculated to provide more context and we look at what is more profitable. At the end of the scenario, there is a discussion on determining the market, risks associated with each option and increasing value. The next scenario is what to do with a young, open thin cow. We discuss selling her outright, adding weight then selling and finally rebreeding and selling in third period. Again, the COG, VOG and ROI is calculated to provide more context and we look at what is more profitable. At the end of the scenario, there is a discussion on determining the market, risks associated with each option and increasing value. To conclude, useful websites are provided along with where to find more information on LRP.

Details

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