Guidelines for Estimating. Beef Cow-Calf Production Costs 2017 in Manitoba

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1 Guidelines for Estimating Beef Cow-Calf Production Costs 2017 in Manitoba

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3 Guidelines For Estimating Beef Cow-Calf Production Costs Based on a 150 Head Cow Herd Date: September, 2017 This guide is designed to provide you with planning information and a format for calculating costs of production of a cow calf enterprise in Manitoba. General Manitoba Agriculture recommendations are assumed in using feed and veterinary inputs. These figures provide an economic evaluation of the livestock and estimated prices required to cover all costs. Costs include labour, investment and depreciation, but do not include management costs, nor do they necessarily represent the average cost of production in Manitoba. These budgets may be adjusted by putting in your own figures. As a producer you are encouraged to calculate your own costs of production. Good management is assumed in that a balanced ration is being fed, livestock are on a herd health program and handling facilities are included. This tool is available as an Excel worksheet at: or at your local Manitoba Agriculure office. The Farm Machinery Custom and Rental Rate Guide is also available to help determine machinery costs. Note: This budget is only a guide and is not intended as an in-depth study of the cost of production of this industry. Interpretation and use of this information is the responsibility of the user. If you need help with a budget, contact your local Manitoba Agriculture office.

4 Guidelines: Cow-Calf Production Costs 2 Cow-Calf Production Costs - September, 2017 Based on a 150 Cow Herd A. Operating Costs Cost/Cow Total Cost Your Cost 1. Feed Costs 1.01 Grain and Concentrates $22.60 $3, Forages $ $42, Salt & Minerals $18.67 $2, Extended Grazing Forages $29.36 $4,405 Total Feed Cost $ $53, Other Operating Costs 2.01 Straw $30.00 $4, Veterinary Medicine & Supplies $19.17 $2, Breeding Costs $34.76 $5, Fuel, Maintenance & Repairs $33.47 $5, Utilities $10.58 $1, Marketing & Transportation $36.95 $5, Death Loss $20.94 $3, Manure Removal $7.23 $1, Insurance $13.04 $1, Herd Replacement $84.30 $12, Pasture Rental $60.13 $9, Miscellaneous $6.67 $1,001 Subtotal Operating Costs $ $106, Operating Interest $17.80 $2,670 Total Operating Costs $ $109,464 B. Fixed Costs 3. Depreciation 3.01 Buildings $21.25 $3, Machinery & Equipment $65.60 $9, Investment 4.01 Buildings $5.84 $ Machinery & Equipment $13.53 $2, Livestock $46.06 $6, Pasture Land & Fencing $65.19 $9,779 Total Fixed Costs $ $32,623 Total Operating and Fixed Costs $ $142,087 C. Labour $ $24,000 Total Cost of Production $1, $166,087 Profitability and Breakeven Analysis Estimated Farmgate Per Cow Total Price ($ per cwt) $ Calf weight (lbs) 575 Gross Revenue / cow $ $147,840 Marginal Returns Over Operating Costs $ $38,379 Over Operating & Labour Costs $95.86 $14,379 Over Operating & Fixed Costs $38.38 $5,757 Over Total Costs (Net Profit) ($121.62) ($18,243) Operating Expense Ratio 74.0% Breakeven Selling Price ($/cwt) Operating Costs $ Operating & Labour Costs $ Operating & Fixed Costs $ Operating, Fixed & Labour Costs $ Cost Summary Per Cow Per Day Summer grazing (based on 135 days) $0.928 Extended grazing (based on 35 days) $0.839 Winter feed (based on 195 days) $1.734 Yardage (based on 230 days) $1.345 Total Overwinter Costs (based on 230 days) $2.943 Note: This budget is only a guide and is not intended to be an in-depth study of the cost of production of this industry. Interpretation and utilization of this information is the responsibility of the user. No liability for decisions based on this publication is assumed.

5 Guidelines: Cow-Calf Production Costs 3 Percent Market Price Change -10.0% Percent Calf Crop Change -5.0% Percent Calf Weight Change -5.0% Per Head Market Price ($ per cwt) $ Calf Crop % Calf Weight (lbs) Stress Test Scenario = Market Price Down 10%, Calf Crop Down 5% and Calf Weight Down 5% Gross Revenue / Cow $ Marginal Returns Over Operating Costs $68.60 Over Operating & Labour Costs ($91.40) Over Operating & Fixed Costs ($148.88) Over Total Costs (Net Profit) ($308.88) Operating Expense Ratio 91.4% Risk & Sensitivity Analysis (Stress Test) Estimated Breakeven Replacement Purchase Values 1 - Number of Years Before Culling 1 Year 2 Years 3 Years 4 Years 5 Years 6 Years 7 Years 8 Years Operating Expense (per Cow) Feed Cost $ $ $ $ $ $ $ $ Other Operating Cost 2 $ $ $ $ $ $ $ $ Operating Interest $15.69 $15.78 $15.88 $15.98 $16.07 $16.17 $16.27 $16.38 Total Operating Cost $ $ $ $ $ $ $ $ Total Fixed Cost 2 $ $ $ $ $ $ $ $ Total Operating and Fixed Cost $ $ $ $ $ $ $ $ Total Labour (Living) Cost 2 $ $ $ $ $ $ $ $ Total Cost Per Cow $1, $1, $1, $1, $1, $1, $1, $1, Income (per Cow) Calf Market Price ($/cwt) $ $ $ $ $ $ $ $ Calf Revenue $ $ $1, $1, $1, $1, $1, $1, Calf Marginal Returns Over Operating Costs $ $ $ $ $ $ $ $ Over Operating & Labour Costs $ $ $ $ $ $ $ $ Over Operating & Fixed Costs $ $99.22 $ $ $ $ $ $ Over Total Costs (Net Profit) ($35.21) ($62.98) ($28.44) ($10.42) $18.40 $68.95 $ $ Cull Cow Market Price ($/cwt) $85.00 $88.50 $92.50 $95.00 $98.50 $ $ $ Cull Cow Revenue $1, $1, $1, $1, $1, $1, $1, $1, Breakeven Replacement Purchase Value 2.75% annual investment cost) Over Operating Costs $1, $1, $2, $2, $2, $3, $3, $4, Over Operating & Labour Costs $1, $1, $1, $1, $2, $2, $2, $3, Over Operating & Fixed Costs $1, $1, $1, $1, $1, $2, $2, $2, Over Total Costs (Net Profit) $1, $1, $1, $1, $1, $1, $1, $1, Yearly replacement value is calculated by adding the marginal returns from the current and each of the previous years and cull cow revenue in the current year at net present value (based on 2.75% annual investment cost) 2 Costs estimates are increased annually by 1.375% inflation rate Note: This budget is only a guide and is not intended as an in-depth study of the cost of production of this industry. Interpretation and utilization of this information is the responsibility of the user.

6 Guidleines: Cow-calf Production Costs 4 Assumptions Cow-Calf Production Costs - Input 1. This budget outlines the cost of production for a cow-calf operation. 2. Buildings and equipment are valued at new cost. 3. All feed is purchased. 4. Manure removal is contracted out. 5. Replacement heifers are valued at fair market value 6. This budget assumes an average weaning weight of 575 lbs. (steer calves 600 lbs and heifer calves 550 lbs.) Herd Profile Number of Cows Average Cow Weight Number of Bulls Total 150 head 1,350 lbs 5 bulls Calf Crop % Steer Calf Weight 600 lbs Steer Calf Market Price $ /cwt Heifer Calf Weight 550 lbs Heifer Calf Market Price $ /cwt WLPIP Insurance Premium $0.00 /cwt Average Calf Weight 575 lbs Weighted Average Calf Market Price $ /cwt Herd Replacement (Cows) Cow Mortality Rate 1.25 % Cow Replacement Rate 12.0 % Average Value/Cow $1, Cull Cow Market Price $85.00 /cwt Cull Cow Market Value $1, Replacement Cost/Heifer $1, Herd Replacement (Bulls) Bull Replacement Rate 25.0 % Original Cost $3, /bull Price Received/Cull Bull $2, /bull Pasture Cost $ /bull Annual Days on Pasture and Winter Feeding Pasture Grazing Extended Grazing Total Winter Feeding Non-confined winter feeding - feed delivered Non-confined winter feeding - bale grazing Confined winter feeding - feed delivered Other Operating Costs Straw Number of Tons/Cow/Year 1.0 Number of Tons/Bull/Year 1.0 Cost/Ton $ days 0 days 65 days 135 days 35 days 195 days 365 Total Days

7 Guidleines: Cow-calf Production Costs 5 Feed Requirement Per Bull Barley Days/Year on Barley Hay (Good Quality) Veterinary Medicine & Supplies Calf Medication Blackleg (8 way vaccine) Tags (CCIA & ID) Cow Medication 5-Way fetal protection Scourguard Internal/external parasite control antibiotics, etc. Vitamin A & D 7.00 lbs/day 120 days 4.00 tons/yr $0.83 /head $4.80 /head $2.90 /head $4.75 /head $3.25 /head $0.63 /head Herd Health Program Professional Services Total Yearly Hours 6 hours Rate $ /hour Transportation Total Kilometers (round trip) 80 km Rate $0.80 /km Number of yearly visits 2 Breeding Costs Health Management Costs Semen Test $10.00 /bull $60.00 /bull Other Breeding Alternatives a) Artificial Insemination Cost/Cow or Heifer $0.00 Number Inseminated 0 b) Community Pasture Cost/Cow or Heifer $0.00 Number of Cows placed in Pasture 0 Fuel, Oil, Repairs & Maintenance a) Machinery Fuel Costs - Winter Feeding Tractor with Loader PTO hp 120 Diesel Fuel Cost $0.85 /litre Tractor Hours Per Day (average) 1.5 hours b) Machinery Repair (% of investment cost) 1.2 % c) Building maintenance (% of investment cost) 2.2 % Other Operating Costs Utilities Hydro - Rate $ / kwh 25 kwh per cow $ watt waterer $ Total Hydro $ Telephone $600.00

8 Guidleines: Cow-calf Production Costs 6 Marketing & Transportation (Culls) a) Trucking: Number of Cull Cows Average Weight/Cow Trucking Cost b) Selling Commission: MBP/CCA Levy $/Head Insurance per Head Commission on Cows Commission on Calves 18 cows 1,350 lbs $1.70 /cwt $4.00 /head $1.75 /head $18.00 /cow $16.00 /calf Manure Removal Manure volume produced m 3 /cow/day Manure volume shrinkage 75 % Cost for manure removal & application $10.00 /cubic yard Operating Interest Rate 5.00 % Investment Rate 2.75 % Insurance Cost per $100 Capital Invested in a) Livestock $0.45 b) Building & Equipment $0.40 Additional coverage for liability $49.00 /year Miscellaneous Total Yearly Expense $1, Capital Costs Buildings & Water System Original Value Salvage Value Useful Life Windbreak Fence $4,000 0 % 20 years Feedlot Fence $4,000 0 % 20 years Calf Shelters $8,000 0 % 20 years Handling Facilities $10,000 0 % 20 years Calving Facility $12,500 0 % 20 years Waterers $6,000 0 % 20 years Pasture Watering System $4,000 0 % 20 years Pasture Water Source $3,000 0 % 20 years Gates $1,450 0 % 20 years Round Bale Feeders $2,400 0 % 20 years Well & Pressure System $8,000 0 % 20 years Hydro (6 $400) $2,400 0 % 20 years Storage Bins $5,000 0 % 20 years Total $70,750 0 % 20 years Machinery & Equipment Miscellaneous Machinery $10, % 10 years Tractor & Loader $36, % 10 years Bale Shredder $22, % 10 years Tractor & Feed Wagon (silage rations) $0 20 % 10 years Stock Trailer $25, % 10 years Truck 50%) $30, % 10 years Total $123,000

9 Guidleines: Cow-calf Production Costs 7 Total Building, Machinery & Equipment $193,750 Total Breeding Herd Value $251,250 Total Capital Investment $445,000 Pasture Costs Number Pasture Type of Cows Usage Marginal Pasture % Improved Pasture % Crown Lands % Rented Pasture % Community Pasture % % Marginal Pasture Improved Pasture Crown Lands Cows on Pasture 30 cows 30 cows 30 cows Length of Fence miles miles miles Fence Price $4,000 /mile $1,000 /mile $4,000 /mile Fence Useful Life 20 years 20 years 20 years Fence Salvage Value $0.00 $ % Number of acres/cow 7.0 acre/cow 4.0 acre/cow 13.3 acre/cow Number of cows/quarter 22.9 cows 40.0 cows 12 cows Value $625 /acre $1,250 /acre Taxes $3.50 /acre $7.50 /acre Total Fertilizer, Chemical, Seed & Miscellaneous $0.00 /acre $0.00 /acre $0.00 /acre Rental Rate $ /quarter Cost per cow (135 days pasture) $ /cow $ /cow $40.92 /cow Cost per cow per day (135 days pasture $1.18 /day $1.28 /day $0.30 /day Cows Cows on Pasture Community Pasture 30 cows Rented Pasture 30 cows Cost per cow $0.75 /cow/day Rental Rate $4,150 /quarter Number of quarters 1 quarters Number of cows/quarter 30.0 cows Number of acres/cow 5.3 acre/cow Annual Fence Repair Cost $0 /quarter (average cost) Pasture Grazing Days 135 days/year 135 days/year Calves Calves on Pasture 143 calves Cost $40.00 /calf/season Cost per cow $ /cow $ /cow Cost per cow per day $1.03 /day $1.02 /day Labour Costs Hours/Cow/Year Labour Rate 8.00 hours $20.00 /hour

10 Guidelines: Cow-calf Production Costs 8 Winter Feed Costs & Requirements Worksheet Total Winter Feeding = 195 days Enter your days on feed for each selected ration number in the "blue" numbers in the "gray" shaded area Ration Number Days on Feed Pre Calving - Cows #1 #2 #3 #4 #5 #6 #7 #8 # Feed Type $/unit lbs/unit $/lb Ration - Feed Per Day (lbs based on 1400 lb cow) Alfalfa Hay $ , $0.00 Alfalfa Grass Hay $ , ,556 $ Grass Hay $ , $0.00 Barley Straw $ , $0.00 Barley Greenfeed $ , $0.00 Corn Silage $ , $0.00 Barley Silage $ , $0.00 Barley Grain $ $ % Feedlot Suppl. $450 2, $ % Liquid Suppl. $405 2, $ % Grain Pellets $285 2, $0.00 1:1 Mineral $ $9.94 2:1 Mineral $ $0.00 Limestone $ $0.00 Blue Salt $ $1.28 $/head/day $1.49 $1.44 $1.23 $1.46 $1.44 $1.82 $1.31 $2.22 $0.00 $ Total lbs /cow Total Cost /cow 2 Ration Number Days on Feed Post Calving - Cows #1 #2 #3 #4 #5 #6 #7 #8 # Feed Type $/unit lbs/unit $/lb Ration - Feed Per Day (lbs based on 1400 lb cow) Alfalfa Hay $ , $0.00 Alfalfa Grass Hay $ , ,546 $ Grass Hay $ , $0.00 Barley Straw $ , $0.00 Barley Greenfeed $ , $0.00 Corn Silage $ , $0.00 Barley Silage $ , $0.00 Barley Grain $ $ % Feedlot Suppl. $450 2, $ % Liquid Suppl. $405 2, $ % Grain Pellets $285 2, $0.00 1:1 Mineral $ $6.63 2:1 Mineral $ $0.00 Limestone $ $0.00 Blue Salt $ $0.82 $/head/day $2.28 $2.22 $2.09 $2.18 $1.92 $2.32 $1.73 $2.84 $0.00 $ Total lbs /cow Total Cost /cow 2 Winter Feed Summary Total Days on Feed 1 Average Cost/Day Feed Cost per Cow 2 Pre Calving - Cows 135 $1.43 $ Post Calving - Cows 60 $2.20 $ $1.67 $ Total Days on Feed Must = 195 Days (as calculated on Input worksheet) 2. Feed Cost Per Cow Based on 1350 lb Cow Note: The suggested feed rations above were formulated using Cowbytes Beef Ration Balancer software with no included allowance for wastage during feeding. Feed ration quantity and costs should be adjusted accordingly. If you need help with a budget, contact your local Manitoba Agriculture office.

11 Guidelines: Cow-calf Production Costs 9 Extended Grazing Costs & Requirements Worksheet Extended Grazing Days 35 Number of Cows 150 Number of Cow Grazing Days 5,250 Corn Grazing Stockpiled Forage Swath Grazing Crop Residue Extended Grazing useage - % (total must = 100%) Grazing Yield (wet tons/acre) % moisture Yield (tons dry matter/acre) Total # cow grazing days/acre Acres Req'd 100% each) Planned extended grazing acres Extended Grazing Costs $/acre $/pound $/acre $/pound Standing Forage Cost n/a $0.022 n/a $0.005 Input Costs Seed $81.20 $15.00 Fertilizer $81.07 $45.82 Herbicide $18.67 $23.75 Custom tillage $8.00 $8.00 Custom seeding $15.00 $15.00 Custom spraying $8.00 $8.00 Miscellaneous $7.75 $7.75 Land taxes $12.00 $12.00 Land Investment Costs $68.75 $68.75 Labour $15.00 $15.00 Subtotal $ n/a $ n/a Fencing Costs Estimated miles of fence required Fence Investment Cost/acre $0.00 $0.34 $0.00 $0.34 Fence Depreciation Cost/acre $0.00 $0.63 $0.00 $0.63 Total Total cost per acre $0.00 $44.97 $0.00 $3.47 Total Extended Grazing Cost $0.00 $4, $0.00 $ Corn Grazing Cost Summary Stockpiled Forage Swath Grazing Crop Residue Total Cost Cost per cow $0.00 $26.68 $0.00 $2.68 $29.36 Number of Days Cost / cow / day $1.02 $0.31 $0.84 Note: This budget is only a guide and is not intended as an in-depth study of the cost of production of this industry. Interpretation and utilization of this information is the responsibility of the user.

12 Guidelines: Cow-Calf Production Costs 10 Assumptions 1. This budget outlines the cost of production for a cow-calf operation with 150 cows, 5 bulls and 95% calf crop weaned. 2. Building and equipment are valued at new cost. 3. All feed is valued at market value. 4. Manure removal is contracted out. 5. Replacement heifers are valued at fair market value. 6. This budget assumes an average weaning weight of 575 lbs. (steer calves 600 lbs and heifer calves 550 lbs.) Cow-Calf Production Worksheet A. Operating Costs 1. Feed Costs Your Cost 1.01 Grain and Concentrates (for cows) Barley Grain 6 units/cow x $3.75 /unit = $22.60 /cow 32% Feedlot Suppl. 0 units/cow x $ /unit = $0.00 /cow 32% Liquid Suppl. 0 units/cow x $ /unit = $0.00 /cow 20% Grain Pellets 0 units/cow x $ /unit = $0.00 /cow Total = $22.60 /cow 1.02 Forages (for cows) Alfalfa Hay 0 units/cow x $ /unit = $0.00 /cow Alfalfa Grass Hay 4 units/cow x $80.00 /unit = $ /cow Grass Hay 0 units/cow x $70.00 /unit = $0.00 /cow Barley Straw 0 units/cow x $30.00 /unit = $0.00 /cow Barley Greenfeed 0 units/cow x $75.00 /unit = $0.00 /cow Corn Silage 0 units/cow x $34.00 /unit = $0.00 /cow Barley Silage 0 units/cow x $43.00 /unit = $0.00 /cow Total = $ /cow

13 Guidelines: Cow-Calf Production Costs Salt and Minerals 1:1 Mineral 0 units/cow x $35.00 /unit = $16.57 /cow 2:1 Mineral 0 units/cow x $35.00 /unit = $0.00 /cow Limestone 0 units/cow x $5.50 /unit = $0.00 /cow Blue Salt 0 units/cow x $7.75 /unit = $2.10 /cow Total = $18.67 /cow 1.04 Extended Grazing Forages Corn Grazing $0.00 /cow Stockpiled Forage $26.68 /cow Swath Grazing $0.00 /cow Crop Residue $2.68 /cow Total = $29.36 /cow 2. Other Operating Costs 2.01 Straw 1.00 tons/cow/year x $30.00 /ton = $30.00 /cow 2.02 Veterinary Medicine & Supplies Calf Medication $0.83 /calf blackleg x % calf crop = $0.79 /cow Cow Medication Herd Health Program Mileage $2.90 /cow IBR + $4.75 /cow scourguard + $3.25 /cow parasite control + $0.63 /cow AD = $11.53 /cow $ /hour charge x 6.00 hours = $6.00 /cow $0.80 /km charge x kilometres x 2.00 visits = $0.85 /cow Total = $19.17 /cow

14 Guidelines: Cow-Calf Production Costs Breeding Costs Feed for Bulls Hay 4.00 tons good quality x $80.00 /ton x 5.00 bulls = $10.67 /cow Barley 7.00 lbs barley/bull/day x days lbs/bu x $3.75 /bushel x 5.00 bulls = $2.19 /cow Total = $12.86 /cow Straw for Bulls Vet & Medicine for Bulls Replacement of Bulls Investment in Bulls Pasture Costs for Bulls 1.00 tons/bull/year x $30.00 /ton x 5.00 bulls = $1.00 /cow $60.00 semen test + $10.00 total vet cost/bull x 5.00 bulls = $2.33 /cow $3,500 bull cost - $2,100 bull salvage value x % replacement rate x 5.00 bulls = $11.67 /cow $3,500 bull cost + $2,100 bull salvage value 2.00 average x 2.75 % investment rate x 5.00 bulls = $2.57 /cow $ /bull pasture cost x 5.00 bulls = $4.34 /cow Total = $34.76 /cow

15 Guidelines: Cow-Calf Production Costs Fuel, Oil, Repairs & Maintenance Machinery fuel cost 120 PTO hp 2.5 avg HP required x litres fuel/hour/hp x 1.5 hours per day x $0.85 diesel / litre x 195 days on feed $1, annual fuel cost = $13.25 /cow Machinery repair & maintenance $123,000 machinery capital cost x 1.20 % repair rate = $1, oil, repairs & maintenance = $9.84 /cow Building repair & maintenance $70,750 building capital cost x 2.20 % repair rate = $1, oil, repairs & maintenance = $10.38 /cow Total = $33.47 /cow 2.05 Utilities $1,586 annual cost = $10.58 /cow 2.06 Marketing & Transportation Trucking Calves 143 calves x lbs/calf x $1.70 /cwt (trucking cost) lbs/cwt = $9.32 /cow Cull Cows cull cows cows died x 1, lbs/cow x $1.70 /cwt (trucking cost) lbs/cwt = $2.45 /cow MBP Levy, selling commission & insurance Calves + $4.00 MBP Levy + + $0.00 WLPIP Insurance Premium + $19.75 Commission, Insurance x 143 calves = $22.64 /cow

16 Guidelines: Cow-Calf Production Costs 14 Cull Cows $4.00 MBP Levy + $19.75 Commission, Insurance x 16 cull cows = $2.53 /cow Total = $36.95 /cow 2.07 Death Loss 2.08 Manure Removal 2.09 Insurance x $1,675 /cow investment x 1.25 % mortality rate = $20.94 /cow 195 winter feeding days Non-confined winter feeding - feed delivered - 0 Non-confined winter feeding - bale grazing = 65 days confined winter feeding x m 3 /cow/day = 2.21 m 3 manure volume x 75 % volume shrink x yd 3 per m 3 x $10.00 yd 3 manure removal cost = $7.23 /cow $1,675 $/cow investment x $0.45 /$100 capital /100 = $7.54 /cow $193,750 building and equipment investment x $0.40 /$100 capital /100 = $5.17 /cow $49.00 liability = $0.33 /cow Total = $13.04 /cow 2.10 Herd Replacement $1,850 /replacement heifer - $1,148 /cull cow x % replacement rate = $84.30 /cow 2.11 Pasture Rental A. Crown Land Rental (includes taxes) $275 /quarter, rental rate cows/quarter = $22.92 /cow x 20 % pasture usage Total = $4.58 /cow

17 Guidelines: Cow-Calf Production Costs 15 B. Community Pasture Grazing: Cows $0.75 cost/cow/day x days = $ /cow Calves x $40.00 /calf/season x calves on pasture = $38.13 /cow = $ /cow x 20 % pasture usage Total = $27.88 /cow C. Rented Pasture: $4,150 /quarter, rental rate + $0 /quarter, fence repair x 1 quarters 30 cows = $ /cow x 20 % pasture usage Total = $27.67 /cow Total (A,B,C) = $60.13 /cow 2.12 Miscellaneous $1,000 total office expenses = $6.67 /cow 2.13 Operating Interest (Operating interest is charged on one half of the subtotal operating costs) $ subtotal operating costs 2.00 average x 5.00 % operating interest = $17.80 /cow Capital Costs Buildings & Water System Windbreak Fence $4,000 Feedlot Fence $4,000 Calf Shelters $8,000 Handling Facilities $10,000 Calving Facilities $12,500 Waterers $ 1000) $6,000 Pasture watering system $4,000 Pasture water source $3,000 Gates $1,450 Round Bale Feeders $2,400 Well & Pressure System $8,000 Hydro (6 $400) $2,400 Storage Bins $5,000 Total Building Cost $70,750

18 Guidelines: Cow-Calf Production Costs 16 Machinery & Equipment Miscellaneous Machinery $10,000 Tractor & Loader $36,000 Bale Shredder $22,000 Tractor & Feed Wagon (silage rations) $0 Stock Trailer $25,000 Truck 50%) $30,000 Total Machinery & Equipment Cost $123,000 Total Bldg., Mach. & Equip. $193,750 Total Breeding Herd Value $251,250 Total Capital Investment $445,000 B. Fixed Costs 3. Depreciation Original Cost - Salvage Value Useful Life 3.01 Buildings & Water System (not including pasture water system) $63,750 original cost salvage value years useful life = $21.25 /cow 3.02 Machinery & Equipment $123,000 original cost - $24,600 salvage value years useful life = $65.60 /cow 4. Investment 4.01 Buildings Original Cost + Salvage Value x Investment Rate 2 $63,750 original cost + $0.00 salvage value 2.00 average x 2.75 % investment rate = $5.84 /cow 4.02 Machinery & Equipment $123,000 original cost + $24,600 salvage value 2.00 average x 2.75 % investment rate = $13.53 /cow 4.03 Livestock $1,675 /cow x 2.75 % investment rate = $46.06 /cow

19 Guidelines: Cow-Calf Production Costs Pasture A. Marginal Pasture Investment Land 7.00 acres/cow x $ /acre x 2.75 % investment rate = $ /cow Fence $28,000 total fence investment + $0 salvage value 2.00 average x 2.75 % investment rate = $2.57 /cow Pasture Water System $7,000 system & source + $0 salvage value 2.00 average x 2.75 % investment rate = $0.64 /cow Total Investment = $ /cow Depreciation Fence $28,000 total fence investment - $0 salvage value years useful life Pasture Water system = $9.33 /cow $7,000 system & dugout - $0 salvage value years useful life = $2.33 /cow Total = $11.67 /cow Taxes 7.00 acres/cow x $3.50 /acre = $24.50 /cow = $ /cow x 20 % pasture usage Total = $31.94 /cow B. Improved Pasture Investment Land 4.00 acres/cow x $1,250 /acre x 2.75 % investment rate = $ /cow Fence $4,500 total fence investment + $0 salvage value 2.00 average x 2.75 % investment rate = $0.41 /cow

20 Guidelines: Cow-Calf Production Costs 18 Pasture Water System $7,000 system & source + $0 salvage value 2.00 average x 2.75 % investment rate = $0.64 /cow Total Investment = $ /cow Depreciation Fence $4,500 total fence investment - $0 salvage value years useful life = $1.50 /cow Pasture Water system $7,000 system & source - $0 salvage value years useful life = $2.33 /cow Total = $3.83 /cow Taxes 4.00 acres/cow x $7.50 /acre = $30.00 /cow = $ /cow x 20 % pasture usage Total = $34.48 /cow C. Crown Land: Depreciation Fence 9.38 miles of fence x $4,000 /mile = $37,500 fence cost - $3,750 salvage value years useful life = $11.25 /cow Pasture Water system $7,000 system & source - $0 salvage value years useful life = $2.33 /cow Total Depreciation = $13.58 /cow Investment Fence $37,500 fence cost + $3,750 salvage value = $41,250 total invested 2.00 average x 2.75 % investment rate = $3.78 /cow Pasture Water System $7,000 system & source

21 Guidelines: Cow-Calf Production Costs 19 + $0 salvage value 2.00 average x 2.75 % investment rate = $0.64 /cow Total Investment = $4.42 /cow = $18.00 /cow x 20 % pasture usage Total = $3.60 /cow Subtotal (A,B,C) $70.02 x 135 days on pasture 145 benchmark grazing days Total (A,B,C) = $65.19 /cow C. Labour 8.00 hours/cow/year x $20.00 /hour = $ /cow Profitability and Breakeven Analysis: Gross Revenue = calf weight cwt x $/cwt x % calf crop (eg x $180.43/cwt x 95% = $985.60) Operating Expense Ratio = (operating cost gross revenue) x 100 (eg. ($ $ ) x 100 = 74.0%) Breakeven Price $/cwt = Cost % calf crop calf weight cwt (eg. $ % 5.75 = $202.69) Cost Summary: Summer Grazing Cost Per Cow Per Day = pasture cost days (eg. $ = $0.93) Extended Grazing Cost Per Cow Per Day = grazing cost days (eg. $ = $0.84) Winter Feed Cost Per Cow Per Day = feed cost days (eg. $ = $1.73) Yardage Cost Per Cow Per Day = ($31.00 straw + $33.47 fuel & repair + $5.17 building insurance + $10.58 utilities + $7.23 manure removal + $21.25 buiding depreciation+ $65.60 machinery depreciation + $5.84 building investment + $13.53 machinery investment + $11.39 operating interest + $4.21 misc. + $ labour) 230 days = $1.345 Created and maintained by Manitoba Agriculture Farm Management September, 2017 For more information, contact your local Manitoba Agriculture office or: Benjamin Hamm Roy Arnott Ray Bittner Farm Management Specialist Farm Management Specialist Farm Production Extension Greg Fedak Bob Gwyer Wayne Tomlinson Farm Management Specialist Farm Management Specialist Extension Veterinarian

22 Guidelines: Cow-Calf Production Costs 20 Cow-Calf Operating Facilities

23 Guidelines: Cow-Calf Production Costs 2017 Beef Cow Calf - Total Production Costs (cost/cow) Fixed Cost - Investment, $131, 12% Labour, $160, 14% Feed Cost, $355, 32% Fixed Cost - Depreciation, $87, 8% Other Operating Cost, $375, 34% Manitoba Agriculture 2017 Beef Cow Calf - Other Operating Costs (cost/cow) Operating Interest, Miscellaneous, $6.67 $17.80 Straw, $30.00 Veterinary Medicine & Supplies, $19.17 Pasture Rental, $60.13 Breeding Costs, $34.76 Herd Replacement, $84.30 Fuel, Maintenance & Repairs, $33.47 Utilities, $10.58 Marketing & Transportation, $36.95 Manitoba Agriculture Insurance, $13.04 Manure Removal, $7.23 Death Loss, $20.94

24 For more information Contact your local Manitoba Agriculture Office. Visit us at manitoba.ca/agriculture. ESR December 2017

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