The Nebraska Extension hosts seminars on the cost of producing cow calves throughout western Nebraska.
These seminars will provide a hands-on learning experience for producers to learn how to calculate a unit cost of production for a cow-calf operation.
The two-day workshops will be held from 8:30 to 16:00 on November 29 and 30 at the 4-H building in Kimball and from 8:30 to 16:00 on December 6 and 7 at the Arthur at the Fairgrounds .
Having information to make effective business decisions is important to ranch success. Business analysis and unit cost of production are tools that can help ranchers identify where value is being created on the ranch, where costs are occurring, and what changes could be made to improve profit.
For veal producers, UCOP is calculated as cost per kilo of weaned calf. Knowing how much it costs to develop a stock heifer, harvest a ton of hay, or put a pound of profit on a yearling or stockman is invaluable information for the ranch business manager.
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It takes time to set up and calculate a UCOP, but the benefits are:
- Know what the current costs are.
- Projected unit cost of production in 2023.
- Identify opportunities to improve profitability.
- Use the information to make management and marketing decisions.
Workshop participants will work through a sample ranch to determine the profitability of four common farms: cow-calf, stockmen/heifers, hay and land. Participants will follow the phases of cost analysis and calculation of how much it costs to produce a unit of product for each company. Participants will also learn how to identify how changes could improve ranch profitability.
Hands-on activities, group activities and examples of how to calculate key numbers will help participants throughout the process. Participants will have access to spreadsheet templates that can help them analyze production costs for their operations. Follow-up consultation is available after the workshops.
Workshops are limited to 30 people. The cost of the workshop is $50 per person and payment is due on the day of the workshop. To register for the Kimball Seminar, contact Aaron Berger at 308-235-3122 or [email protected] To register for the Arthur Workshop, contact Randy Saner at 308-532-2683 or [email protected]