In response to the increasing consumer demand for locally sourced beef, University of Missouri Extension economists have developed valuable resources to assist beef producers in making informed decisions. Released during National Beef Month in May, the On-Farm Finishing Budget publication and accompanying spreadsheet tools offer comprehensive guidance to producers considering finishing their cattle on their farms.
MU research project analyst, Drew Kientzy, emphasized the importance of these resources in helping producers evaluate the feasibility of retaining their calves past weaning. With fluctuating beef prices and supplies, more producers are exploring the option of marketing their beef directly to local consumers. The newly introduced tools aim to assist producers in determining whether to finish their calves and how best to sell the animals when ready for slaughter.
The Live Sale budget sheets enable farmers to customize an enterprise budget specific to their beef operation, encompassing the process from calf birth to slaughter weights. Additionally, the Freezer Beef budget sheet allows farmers to evaluate the financial aspects of selling animals directly to consumers as whole, half, or quarter carcasses.
To further enhance the selling potential, a Retail Cuts sheet supplements the Freezer Beef tool, enabling producers to assess the viability of selling individual cuts to consumers with customized pricing based on meat cuts.
These innovative resources empower producers by providing insights into profit margins and pricing strategies tailored to local markets. Jennifer Lutes, MU Extension agriculture business specialist, emphasized that these tools eliminate the need for guesswork and enable producers to make informed pricing decisions based on their own production costs.
The publication, co-authored by Lutes and Ryan Milhollin, MU assistant professor of agricultural business and policy, offers a comprehensive guide alongside the downloadable spreadsheet tools.
Beef producers can access these valuable resources for free download at the provided link, revolutionizing the way they approach on-farm finishing decisions and helping them meet the growing consumer demand for locally produced beef.
Photo Credit: GettyImages-PamWalker68
Categories: Missouri, Business, Livestock, Beef Cattle