It is of no surprise when talking to cow-calf producers that overhead costs are a significant concern as there are substantial expenses that need to be covered by the beef cow herd. However, the productivity and profitability of the cow-calf enterprise can be greatly impacted by our management and evaluation decisions.
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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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Now more than ever, producers are trying to maximize outputs and herd performance all while reducing costs. Taking advantage of tools that allow for reduced costs and increased productivity and profitability is an essential worth to producers in today’s industry. One tool that has been utilized in the beef industry for several years, and one that has evident value in beef production is crossbreeding. Crossbreeding provides increased performance with minimal, if any additional costs to the producer.
Prospective cow-calf producers who don’t have the cow but do want the calf can use some creative methods to get a foot in the door.
Family businesses are the most difficult environment to establish and reinforce accountability.
The charitable remainder trust (also called a CRT) allows a family to sell highly appreciated land as well as livestock, crops, machinery and equipment and bypass taxes on the sale.
This article is part two in a five-part series. Be sure to read “Retaining talented employees” in the upcoming February issue.
The upper hand in the workplace has shifted – employees now choose employers.
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Progressive Cattle provides practical beef operation management articles, timely news, cutting-edge technology information and thought-provoking opinions to you at no cost.
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