(Laura McKenzie/Texas A&M AgriLife Marketing and Communications)
The key risk management strategies for successfully running a profitable business include setting and measuring production, economic, and financial performance objectives, identifying the unit cost of production, and benchmarking against alternative production systems. As Peter Drucker said, “You can’t manage what you can’t measure.” Therefore, a profitable business needs to establish clear financial and production performance objectives.
[Read more…] about Beef-Cattle Standard Performance Analysis
Droughts have had devastating effects on our operation. While 50% of the Southern Plains are not currently in a drought, the CPC-IRI Forecast has increased the likelihood of having a Niña season by the end of this summer until the end of the 2025 winter, which is correlated with lower rainfall in our area. To prepare our business for the future and ensure long-term sustainability, we must have and implement a drought management plan.
Peer advisory groups are an invaluable tool for progressive and business-minded ag producers. In this article, you’ll learn how peer advisory groups work, their benefits, and how you can join one. These groups offer a unique opportunity for agricultural producers to generate knowledge, improve their operations, and be more profitable!
Are you looking to measure your ranch’s profitability accurately? In this article, we’ll explore how to use the Beef-Cattle Standard Performance Analysis (SPA) to measure your ranch’s production, financial, and economic performance.
Today’s blog topic has changed, given the sad circumstances of everyone affected by the wildfires in our region. We will discuss some USDA programs available to help during these challenging times. Our thoughts are with everyone affected by these fires, causing unmeasurable losses for many.