As cattle prices drop, there is power in knowing your Unit Cost of Production (UCOP). For cow-calf producers UCOP is figured as cost per pound of weaned calf.
It takes time to set up and calculate a UCOP, but the benefits are:
• Knowing what present costs are;
• Projecting what unit cost of production will be in 2017;
• Identifying opportunities to improve profitability;
• Using information to make management and marketing decisions.
Three two-day workshops beginning in late November in Valentine, Whitman and Scottsbluff will provide a hands-on learning experience for producers to learn how to calculate a unit cost of production for a cow-calf operation.
Costs for cow-calf producers have shot up over the last 15 years. From 2001 to 2015, the Livestock Market Information Center reports annual cow costs increased from $400 to $875 per cow. Cow-calf producers who know their UCOP numbers and understand the interaction between costs and production can implement strategies to manage resources to meet business and personal goals.
Below are workshop dates and locations, along with contact information for registration.
Nov. 28 and 29 at Valentine: Cherry County Extension Office Meeting Room, 8:30 a.m.-4 p.m. CST; Jay Jenkins at 402-376-1850 or jjenkins2@unl.edu;
Nov. 30 and Dec. 1 at Whitman: Gudmundsen Sandhills Lab, 8:30 a.m.-4 p.m. MST; Bethany Johnston at 308-645-2267 or bjohnston3@unl.edu;
Dec. 6 and 7 at Scottsbluff: Panhandle Research and Extension Center, 8:30 a.m.-4 p.m. MST; Aaron Berger at 308-235-3122 or aberger2@unl.edu.
Cost is $35 per person and covers meals for both days. Please pre-register one week prior for a meal count. Workshops are limited to 30 people per location