Severe drought, high feed costs and limited feed availability in 2021 forced many producers to liquidate a portion of their cow herd. One of the consequences of a smaller herd is the higher cost per cow as overheads are spread over fewer animals. Therefore, when feed is available and pasture quality and quality allow, rebuilding the herd is desired in order to efficiently utilize available resources (such as land, labour, facilities and machinery) and to minimize equity loss.
With various drought conditions across the country, producers are likely to have different plans and timelines for herd rebuilding. Some might be planning to rebuild in 2022 if the drought abates, but those who are in a prolonged drought may need more time for pastures to recover.
Recovering from drought is a challenging period and requires strategic decision-making with considerations of the trade-offs of different rebuilding options from the economic, animal performance and land productivity perspectives.
To better understand the different rebuilding options, Canfax Research Services conducted an analysis focusing on the potential economic trade-offs of rebuilding with homegrown heifers or purchased breeding stock. Continue reading →
The start of a new season and year is the perfect time for beef producers to look back on what went well and think ahead to what can be improved.
Do you feel like you have a good understanding of your farm’s profit and production? Do you have goals for the upcoming season?
You can learn a lot about your farm when you make the effort to collect and take a look at your financial and production data. Perhaps you assumed an area of your operation was performing better than it truly was and records demonstrate improvement is needed. On the other hand, analyzing data may point to improvements that you didn’t realize occurred.
Good farm records are useful to provide the data needed to understand your farm performance and will help take the guesswork out of management decisions. Research shows that when producers set goals and keep records, they can achieve up to 60 more pounds of calf weaned per cow exposed. Benchmarking also helps producers be prepared for challenging times such as drought and other environmental disasters, and will maximize the benefits of your annual VCPR (Veterinary Client Patient Relationship) visit with your herd veterinarian. Continue reading →
While profit and production numbers are often touted as measures of success, participants in the Cost of Production Network pointed out that fiscal targets are not their only focus. Success looks different for every farm because individual goals and values vary. Some producers may put a spotlight on strategies to increase revenue and reduce costs while other farmers view success as working well with family members or having less overall stress. All definitions are important and worth striving for.
Andre and Katie Steppler were named Manitoba Region’s Outstanding Young Farmers (OYF) in 2020. They manage the cattle division of Steppler Farms, where they run purebred and commercial Charolais herds as well as the recent addition of a registered Black Angus herd.
While winning the OYF award may be the very definition of success for most farmers, Steppler, who works alongside his three brothers, their families and his parents near Miami, Manitoba, is quick to point out that there is no single goal or target that makes their multigenerational farm work. “It’s about shared visions and goals and it’s a revolving thing,” he says. “You can’t stand still.” Continue reading →
Drought conditions across the country this year remind us of the importance of a drought management plan. Diversifying a cow-calf operation with a backgrounding enterprise could be part of a drought mitigation strategy as backgrounded cattle can be sold or move to a feedlot to free up feed supplies or pasture for the cow herd. While backgrounding may not be an option of many producers this year due to tight feed supplies, now might be a good time to start thinking if this strategy fits your operation.
The Beef Cattle Research Council’s Preconditioning and Backgrounding Calculator (download the .xlxs file) is designed to identify economic opportunities and risks from preconditioning or backgrounding cattle. The calculator has recently been updated to allow more flexibility in price projections. The cattle price index database embedded in the calculator is updated with the latest five-year (2016-2020) provincial data from British Columbia to Quebec.