Use A Sharper Pencil To Save Money On FeedstuffsUse A Sharper Pencil To Save Money On Feedstuffs
Volatile prices for feed and cattle require constant budgeting and analysis.
January 6, 2014
Persistent problems from drought have made feedstuffs more important and that volatility makes it doubly important to push the pencil.
Since there is no "one-size-fits-all" solution to identifying your best possible feed sources, you'll need to analyze all the options in your location. Because both the feed and beef industry markets constantly change, reviewing those feed options several times a year can help you make the most of your resources.
Pricing protein by the pound helps identify the economic details of a protein source, says Dan Childs, Samuel Roberts Noble Foundation agricultural economist.
"Since many natural source proteins are equally usable by cows, price/lb. of protein is a good method to determine the best buy," Childs says. "Making that comparison requires two numbers – the percent of protein in the product and its price per ton."
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