Webinar series offers beef producers plan for profitable marketing

AMES — In recognition of Iowa State University Extension and Outreach Week, a webinar series on profitable marketing will be offered to beef producers in all 99 counties across the state.

The three-part series, “Planning for Profitable Cattle Marketing” takes place at noon April 8, 9 and 10.

Registration is required. There is no cost to producers.

“This is one way to show our appreciation for the people who support and participate in our educational programs throughout the year,” said Tim Christensen, farm management specialist.

The webinar series covers key profitability considerations.

Tim Christensen, farm management specialist, will talk about the cost of production April 8. On April 9, Chris Clark, beef field specialist, will discuss yield and quality grade.

On April 10, Joseph Lensing, farm management specialist, will talk about marketing strategies.

Cattle and calves are Iowa’s fourth largest agricultural commodity, contributing more than $5 billion in agricultural sales to the economy annually. With all-time record highs for both cost of production and cattle prices, more dollars are at stake than ever before.

The series begins with ideas and tools to calculate the true cost of production. “When you know your numbers, you’ll know when you have the opportunity to make money,” said Christensen.

Managing feed costs is a big part of the profitability equation, but there are many other costs to take into account.

No matter what part of the beef supply chain producers are in, it’s important to understand how carcasses are evaluated. “It all begins with genetic selection and it’s important for everyone in the industry,” said Clark.

Quality and yield grades and how they apply to grid marketing will be covered in the second webinar.

The final webinar will focus on price risk management. “In the current environment, there are record setting sales and also record setting costs, so managing risk has never been more important,” said Lensing.

Livestock Risk Protection insurance has become a useful and user-friendly management tool for today’s small-to-medium-size producers.

Funding for this program was provided by the North Central Extension Risk Management Education Center and the USDA National Institute of Food and Agriculture.

Register online for the webinar series. More information about this program can be found at the ISU Ag Decision Maker website.