How To Make Money In Cattle – Raising beef cattle for profit can be difficult. However, for producers who are willing to adapt to the rapid changes and developments coming to the industry, you can find a way to be very successful. Not sure where to start? We have 10 Tips that can help you raise beef cattle for profit, whether you are an experienced breeder or just starting out.
With so many moving parts in the cattle business, it can feel like planning isn’t the best investment of your time. However, having the right strategies in place to adapt to changes as they come can increase your profits. Having an effective plan to care for your most important asset – your cattle – can help your business thrive.
How To Make Money In Cattle
Here are our 10 tips to get the most out of raising beef cattle. Every job is different, so it’s important to evaluate each strategy and find out what’s right for you. Are you ready to start farming for profit? Here are ten strategies to consider:
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We’ve put together some helpful tips to help you raise your beef cattle for profit À” and hopefully help you avoid some mistakes along the way! If we missed any must-know tips, be sure to add them in the comments below.
Check out the different breeding methods available and the cost associated with each. With that information in mind, make an informed decision about breeding for your business.
Successful ranchers are primarily ranchers. So my advice would be: Follow the most practical way of getting around or leading the way. – Eldon Cole, University of Missouri Agricultural Extension Specialist 2. Take care of your land and pasture
Once you’ve determined your cattle breed, evaluate your soil and the needs of the animals you’re raising. Check grass size, soil quality, and feeding systems.
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Good nutrition is the foundation of healthy and productive cows, however other health factors must be addressed. Injuries, illnesses and poor health can be costly in the cattle business. Prevention is the best medicine. Involve your veterinarian in planning and taking precautions, keep up with vaccinations, and treat injuries and illnesses promptly.
Cattle vaccination is a healthy and business practice. Your veterinarian can recommend the necessary vaccinations based on the severity of the disease and the health of the cow. Early treatment of disease and illness can reduce costs in general, whether it is to reduce the spread of disease and gain weight at the end of the cattle.
While there is a cost and time commitment to establishing and implementing a consistent program of pretreatment and/or arrival, it is the best way to achieve herd health goals. – Jake Geis, thecowdocs.com 4. Maintain and manage your resources
Maintaining and managing your equipment will improve your success in raising beef cattle. Good cow management equipment is an investment in the success of your operation because it can improve efficiency, support healthy cow management practices, and reduce cow stress (which improves health!).
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Cattle handling systems must protect animals and their handlers and ensure safety. Fences, chutes, holding pens, and storage should be inspected regularly, with a regular maintenance and cleaning schedule in place. Placing the cowshed near access to water and electricity is one way to increase your efficiency. Investing in the maintenance and improvement of your equipment can quickly pay off in reduced labor costs, time saved, and better profits due to reduced costs.
5. Embrace the Life of Cattle Breeding Cattle breeding is not just a way of making a living À” it is a way of life! – Debbie Lyons-Blythe, cowsandgrass.com
Raising cattle is a life, whether you do it full time or on top of your 9-5. It’s a challenging, and incredibly rewarding career that can make you money if you have the right strategy. The commitment to raising beef cattle far exceeds a traditional full-time job, so do the rewards and the level of satisfaction.
There are many ways you can reduce stress and become more accepting of life. This includes managing and maintaining your equipment, introducing cattle into your system, and breeding different breeds to diversify your business.
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Marketing programs set up a business that produces beef. Consider changing your marketing plan (or creating one if you haven’t already), expanding your network, finding new ways to protect your business name, and using your story in your business.
If you are new to putting together a marketing plan, your marketing plan should consist of deliberate actions and strategies used to promote your product. Often, it will include your pricing and information about your sales channel. You should plan to regularly review your pricing, and sales strategy to ensure that your business remains profitable, and make adjustments as needed.
Networking helps you make new connections that can lead to sales. It is also good to develop practical cooperation with other cattle activities and related businesses. Always protect your personal and professional reputation.
Another opportunity that isn’t considered often enough is using your story in your marketing, which differentiates you from your competitors and helps you develop your brand and reputation. Breeding for profit can be a problem. Marketing skills can make the difference between a profitable breeder and a poor breeder.
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Business practices and management skills are important to all cattle producers. Farming is a complex process that involves many interrelated parts, so improving efficiency, and using your resources helps produce the best possible product. Complete evaluation and analysis every time, so you can be sure that you are on the right track with your work.
Through continuous analysis and evaluation, you will see the strengths and weaknesses of your farm clearly, and you will find opportunities for improvement. Use this review as a basis for making informed decisions that can pay off big!
The best advice I have for all cattle breeders is to never be shy about telling your breeding story, every chance you get! – Bridget Bingham, Executive Director, PA Cattle Council 8. Prepare your financial plan
In any business, a strong financial plan is essential to profitability. A financial plan can cover many aspects of your business, including daily business expenses and income, financial planning, and business returns. A financial plan for raising beef cattle should include a budget, tax records, insurance, and strategies for growing the business.
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A budget is a living document and should be reviewed and revised regularly. Include your utilities, food, supplies, labor, equipment, manufacturing, marketing, fertilizer, and all other related costs in your budget. Use income projections to make financial and operational decisions, and make sure your budget is on track. Expenses and income and keep those records for tax purposes. Explore tax incentives and programs at the federal and state levels that can increase profits and help you invest in equipment upgrades.
Insurance protects your business against unforeseen circumstances that may arise in your business. Your insurance must be sufficient to cover the land, equipment, cattle, and labor. Get multiple quotes and review your information regularly to ensure you’re well protected in the event of an emergency.
Business profits can be reinvested to grow and expand your business. This includes tools and equipment to upgrade or renovate, increase the size of your herd, diversify operations, or invest in more land. Plan your investments ahead of time and decide where the money is best spent to maximize profits.
Livestock farming is a highly complex and interconnected system, where one management decision affects many other aspects of livestock production, sometimes with unintended consequences. – Burt Rutherford, Editor-in-Chief, BEEF Magazine 9. Add an Emergency Plan
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Seasonal planning, as well as financial planning, are good business practices! An emergency plan should consider what you will do if you are unable to manage operations, financial resources in the event of an emergency, and crisis management strategies.
Prepare an action plan in case something unexpected happens. You may have a spouse, children or other family members who can help with the surgery if needed. If not, make arrangements with neighbors or other producers to help out in these types of situations.
Many problems lead to financial problems. Plan ahead to avoid these situations and keep money in reserve for emergencies. A seasonal plan should also consider market fluctuations and include a plan to deal with animal diseases or injuries.
Continuous learning is the key to success in raising beef cattle. The beef industry is constantly changing, improving and finding ways to be more cost effective while still providing a quality product. Your ability to stay informed and continue to learn and apply the best practices shows a thriving business.
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Coaches and a network of beef suppliers can inform you and help solve problems that arise. Trade magazines, websites, magazines, podcasts, and YouTube videos are other sources of information. Sign up to learn about different types of cattle, farming techniques, performance and management, marketing ideas and more. When information is available to you, it’s easy to stay in the habit of continuing to learn.
College of Agriculture programs are a good source of information and provide unbiased, research-based results. Many offer expertise, programs, and
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