See event listings and more articles in this edition of Agri-News: March 21, 2022 issue
“This report presents the multi-year performance of cow/calf producers participating in Alberta Agriculture, Forestry and Rural Economic Development’s (AFRED) AgriProfit$ Business Analysis and Research Program,” says Ann Boyda, livestock economist with AFRED. “The AgriProfit$ program is free, and provides services for farm business managers that help them make better business management decisions.”
The AgriProfit$ beef program examines the profitability, financial and production efficiencies, and risk-bearing ability of the entire beef operation. It also sheds light on how each production stage contributes to overall profitability.
The program relies on direct farm data to generate the cost of production for cow/calf, drylot and grasser production stages. Individual participant’s information remains confidential. Participating cow/calf producers received customized business analyses of their operations and the results are aggregated to produce this multi-year benchmark report.
“Benchmarking allows comparisons of cost of production based on production practices and marketing strategies and can help drive efficiency and financial performance. AgriProfit$ allows beef producers to evaluate their own operations through comparison to similar beef businesses. Benchmark reports present the compiled productive, economic and financial performance of comparable beef enterprises.”
Calculating the cost of production is an important step in assessing performance and understanding the current health of the farm business. Improving performance requires a good understanding of both the financial and technical aspects of the operation. AgriProfit$ participants receive detailed enterprise reports that outline all revenues and expenses involved in production.
Find out more about AgriProfit$ and read the 2016-2020 Economic productive and financial performance of Alberta cow/calf operations benchmark report.
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