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MANAGEMENT

Read how to improve your supervision of employees, financial matters, identification and record keeping. Learn more about land use issues that affect your operation.

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Almost everyone reading this article is a working manager – one who supervises or at least directs people and manages and works in the operations of the farm, agribusiness or any organization.

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One of the richest blessings a family business could have is a patriarch or matriarch (I’ll use patriarch for both roles for simplicity in this article) who has moved out of their day-to-day leadership role yet is still available to share their unique wisdom when the need occurs.

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There have been large amounts of price movement for feeder cattle this spring and summer due to a variety of factors, including strong domestic retail and export beef demand, meat processing issues, a run-up in feed prices, worsening drought conditions and the loosening and retightening of local COVID-19 restrictions.

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Many important aspects of the cattle industry revolve around numbers: birthweights, weaning weights, calving ease, milk expected progeny differences (EPDs), and the list goes on.

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Sunk cost fallacy: A tendency for people to irrationally follow through on an activity that is not meeting their expectations because of the time and/or money already invested.

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