Extension Communications
3614 Administrative Services Building
Ames, Iowa 50011-3614
(515) 294-9915
10/14/99
Contacts:
Daryl Strohbehn, Iowa Beef Center, (515) 294-0847, stroh@iastate.edu
Tracy S. Petersen, Iowa Beef Center, (515) 294-5672,
tracyp@iastate.edu
Iowa Beef Center Releases Business Record Summary
AMES, Iowa -- The Iowa Beef Center at Iowa State University recently released the 1998 summary of the Iowa Beef Cow Business Record, a production and record-keeping system offered by ISU to cow-calf operators.
"The program was developed to help Iowa cow-calf producers evaluate where they are from a profitability standpoint and benchmark themselves against other Iowa producers," said Daryl Strohbehn, ISU Extension beef specialist with the IBC.
The summary is a compilation of data from those producers participating in the program.
The 1998 summary contains data on 30 herds and includes benchmarking data from an analysis of the last 5 years. These benchmarks compare high- and low-profit operations to the 5-year average in areas such as return per cow, total economic cost per cow and hundredweight, total economic feed cost per cow and hundredweight produced, and the calf crop weaning percentage.
"1998 was not a banner year for cow-calf producers," Strohbehn said. "Producers averaged a positive financial return to management of $1.26 per cow. Cost of production went down in comparison to 1997, but unfortunately, selling price on the calf crop was lower than in 1997."
The Iowa Beef Cow Business Record summary also tracks the cow-calf enterprise in areas such as forage production and costs, pasture productivity and cost and analyzes the total capital invested in the cow-calf production enterprise.
"The Iowa Beef Cow Business Record helps producers see what their total investment is in the cow business," Strohbehn said. "It's mainstay is helping producers find ways to get better returns on their investment and determining whether the different cost centers are in line or need adjustments."
An analysis of 14 producers who have continuously used the Beef Cow Business Record for five years indicated an average improvement of $14,573 in their yearly return to capital, labor and management, Strohbehn said. Those producers, whose herds averaged 138 cows, saved an average of $10.64 in economic cost per hundredweight of production.
Producers interested in receiving the 1998 summary of the Iowa Beef Cow Business Record can order a free copy from Extension Distribution, 119 Printing and Publications, Iowa State University, Ames, Iowa 50011; (515) 294-5247. Request IBC Bulletin: 1999-03. The summary also is posted on the IBC website, http://www.ibc.iastate.edu.
Those interested in participating in the program should contact their local county extension office. According to Strohbehn, the ideal time to start the program is December or January.
ml: isufarm
Extension programs are available to all without regard to race, color, national origin, religion, sex, age, or disability.