By Tim Christensen and Madeline Schultz et.al
In recognition of Iowa State University Extension and Outreach Week, a webinar series on profitable marketing will be offered to beef producers in all 99 counties across the state.
The three-part series, “Planning for Profitable Cattle Marketing” takes place over the noon hour on April 8, April 9 and April 10. Registration is required and there is no cost to producers.
“This is one way to show our appreciation for the people who support and participate in our educational programs throughout the year,” said Tim Christensen, farm management specialist.
The webinar series covers key profitability considerations.
- April 8, Cost of Production, by Tim Christensen, farm management specialist
- April 9, Yield and Quality Grade, by Chris Clark, beef field specialist
- April 10, Marketing Strategies, by Joseph Lensing, farm management specialist
Cattle and calves are Iowa’s fourth largest agricultural commodity, contributing more than $5 billion in agricultural sales to the economy annually. With all-time record highs for both cost of production and cattle prices, more dollars are at stake than ever before.
The series begins with ideas and tools to calculate the true cost of production. “When you know your numbers, you’ll know when you have the opportunity to make money,” said Christensen. Managing feed costs is a big part of the profitability equation, but there are many other costs to take into account.
No matter what part of the beef supply chain producers are in, its important to understand how carcasses are evaluated. “It all begins with genetic selection and it’s important for everyone in the industry,” said Clark. Quality and yield grades and how they apply to grid marketing will be covered in the second webinar.
The final webinar will focus on price risk management. “In the current environment, there are record setting sales and also record setting costs, so managing risk has never been more important,” said Lensing. Livestock Risk Protection insurance has become a useful and user-friendly management tool for today’s small-to-medium-size producers.
“Join us for this timely discussion of profitability during ISU Extension and Outreach Week,” said Lensing. “ISU Extension and Outreach delivers education, facilitates collaboration and sparks action. We’re making a difference for the people of Iowa whether measured in improved farm profits, stronger families, healthier communities, or youth who are ready for their future.”
Funding for this program was provided by the North Central Extension Risk Management Education Center, and the USDA National Institute of Food and Agriculture under Award Number 2023-70027-40444.
Register online for the webinar series. More information about this program can be found at the ISU Ag Decision Maker website.
Source : iastate.edu