Last month, we brought you news of the 2008 Enterprise Budgets, and now, for the first time since 2002, we are happy to report the availability of the 2008 Beef Enterprise Budgets.
Authors of this budget include Steve Boyles (Extension Beef Specialist), David Dugan (Extension Educator., ANR, Brown County ), Jeff Fisher ( Pike County ), John Grimes ( Highland County ), and Stan Smith (Extension P.A., Fairfield County ), Barry Ward (Leader, Production Business Management) and Brian Freytag (OSU Extension Intern, AEDE Undergrad).
As with all of the newest budgets provided by the OSU Extension, the 2008 Beef Budgets are in far more detail, as well as being more graphically appealing and user-friendly, allowing users of the Excel format to insert their own production numbers to get a customized report of their returns. The Beef budgets also sport the new color coded cells that indicate what is required of the user for any particular calculation (See 2008 OSU Enterprise Budgets for more information).
These budgets include:
• Slaughter Steer – Days on Feed: 232 & Days on Feed: 250
• Slaughter Yearling Steer – Days on Feed: 182 & Days on Feed: 190
• Slaughter Heifer – Days on Feed 220
The reason for the separate Days on Feed, is to show a different feeding plan. For example, the 232 DOF Slaughter Steer is fed on corn, soybean meal, mineral, and corn silage; whereas, the 250 DOF are fed on corn, DDG, mineral, and hay. While things are looking good for the crop industry, the rising prices of these commodities is leading to trouble for the beef industry. The ever-rising cost of grains is good for the farmers producing these crops, but also causes an increase in feed for livestock.
The outlook does not look good for livestock farmers as you will see when you first look at the “Returns Above Total Costs” on these new 2008 Beef budgets. With even the best scenarios in place, producers will find it difficult to get out of the red.
It seems that the feeding program you select will greatly influence your profitability in upcoming years as the price of corn and soybeans continue to sky-rocket to unbelievable prices. Using a feeding program that includes a hay-based diet, and avoiding soybean meals and corn silages, will greatly reduce the costs for feeding your steers and heifers.
For options concerning your beef production, you can check out the Beef team website at http://beef.osu.edu or contact your local Extension representatives.
The entire set of Beef Enterprise Budgets in Excel and PDF formats can be accessed at:
http://aede.osu.edu/Programs/FarmManagement/Budgets/beef2008