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Putting It All Together For 2006

Putting It All Together For 2006. Tim Hewitt University of Florida. Information Given:. outlook budgets (costs) marketing Putting It Together: manage costs know markets set price objective evaluate your situation. Cattle Revenue: Rank and Value. Total Farm and Forestry Receipts,

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Putting It All Together For 2006

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  1. Putting It All TogetherFor 2006 Tim Hewitt University of Florida

  2. Information Given: • outlook • budgets (costs) • marketing Putting It Together: • manage costs • know markets • set price objective • evaluate your situation

  3. Cattle Revenue: Rank and Value

  4. Total Farm and Forestry Receipts, $5.5 B, Alabama, 2004 Percents By Commodity

  5. Livestock & Poultry Receipts, $3.4 B, Alabama, 2004

  6. Cattle Operations By Herd Size, Alabama, 2002

  7. Cattle Inventory By Herd Size, Alabama, 2002

  8. Budgeting • planning tool • helps with farm decisions • way of looking at alternatives • helps with price setting

  9. 35 Cow Herd Costs

  10. Asking Price Variable Costs + Fixed Costs + Management + Growth = Asking Price

  11. Asking Price

  12. Marketing Problems • uniformity • lack of cattle for group sales • quality • market knowledge

  13. Follow Markets • know supply/demand concepts • know cow numbers • obtain outlook information • develop confidence in your abilities • evaluate alternatives

  14. Outlook Accuracy • time horizon is important • 15 to 20% margin of error • all sources are similar

  15. Try to Give Market What It Desires(talk to buyers and market managers) • type • breed • grade

  16. Value Determining Factors • sex • frame • weight • condition • muscling • color • horns • vaccinations • breed

  17. Production Practices That Pay (have marketing implications) • breed choice • dehorning • castration • de-worming • vaccinations • feeding programs

  18. Does It Pay? Research has shown that these practices add $4 to $8 per cwt

  19. Cost Comparison of Hay andWinter Grazing

  20. Hay Feeding Costs

  21. Farm Management • pull a net worth statement • evaluate last year • determine the why’s for the goods and bads • budget for the enterprises considered • study outlooks • look at markets • communicate with lender, market personnel, and suppliers

  22. Helping Cow-Calf Producers Manage Price Risk Thank you for your attendance and attention. The floor is now open for questions to any of the speakers. Please remember that the video streaming sites can call (334-844-3504), fax (334-844-3501), or email (prevajw@auburn.edu) your questions to us. Also, please remember to compete the evaluation sheet.

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