Non-Environmental Cost-Benefit News
Producers to predict profit margins
02/24/05
Producers to predict profit margins
Lamb producers will be able to predict profit margins from lotfeeding lambs on-farm thanks to a new lotfeeding cost-benefit calculator to be unveiled at next month's Forbes MLA 'Prime Time for Prime Lamb' forum.
The lotfeeding calculator, developed by NSW Department of Primary Industries District Livestock Officer Geoff Duddy, is an Excel spreadsheet that takes into account the starting costs, feed and management costs (health, shearing, transport, commission and labour) and, importantly, the ‘break even' selling prices for finished lambs.
Mr Duddy, who is based at the Yanco Agricultural Institute, will demonstrate the calculator at the Forbes MLA ‘Prime Time for Prime Lamb' forum at the Forbes Services Club, 41 Templar Street, on Wednesday 9 March. (The lotfeeding calculator will be officially launched by the Australian Sheep Industry CRC in late 2005.)
"Margins are fairly tight with respect to finishing lambs in feedlots due primarily to high store lamb prices relative to the prices for finished lambs," Mr Duddy said.
"Producers are however, able to value-add feed inputs such as low value, high screening cereal grain held on-farm through a lamb lotfeeding system.
"By using the lotfeeding calculator, producers can accurately estimate feedlot production costs, a break-even sale price and look to ‘lock in' and/or negotiate a profitable forward contract price for their finished product."
Mr Duddy will also advise producers at the Forbes MLA ‘Prime Time for Prime Lamb' forum of the suitability of various cereal and pulse grains and the importance of fibre for finishing lambs.
He believes producers need to consider that in addition to feeding their lambs grain, it is important to have at least 10 per cent of ‘effective' fibre to stimulate the rumen.
"I don't necessarily recommend high quality roughage, because it's dearer per unit of protein and energy compared to grain," Mr Duddy said.
"It makes more economic sense to use medium to low quality hay as the roughage to meet the 10 per cent effective fibre requirement and focus on providing your lambs with the protein and energy they need from the grain component."
Forbes Advocate Australia http://forbes.yourguide.com.au
http://forbes.yourguide.com.au/detail.asp?class=news&subclass=local&category=general%20news&story_id=373690&y=2005&m=2
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