October: Nutrition Source: Dr. Deke Alkire, nutritionist
“The nutrition program is typically the largest vari-
able cost of cattle production. If producers can save even a small percentage on their annual feed costs, it can amount to a pretty large number,” Alkire says. With all of the feedstuff options available in today’s
marketplace, it is not always easy to discern the best option, especially since the decision must be based on both nutrition and economics, so it is helpful to enlist expert advice. To develop a nutrition program, it is important to
estimate the animals’ nutritional requirements and to determine forage quality. “Once we know what the forage will provide nu-
tritionally, then it’s a matter of determining the least expensive supplemental feeding program to meet the nutritional defi ciencies,” Alkire says.
November: Investments Sources: Dan Childs, agricultural economist, and Steve Swigert, agricultural economist
While investment priorities will vary from op-
eration to operation, 2 questions can help producers weigh their options. First, producers should ask, “What will give me the highest return for my investment?” Second, producers should ask, “How long will it take me to see a return on my investment?” The best invest- ments either increase production effi ciency or improve quality of life. The presence of additional capital also creates an
opportunity to pay down debt. “Although paying down a debt doesn’t create a tax benefi t per se, a low debt load may determine how well an operation can weather downturns in commodity prices, extended droughts or other situations that affect income,” Childs says. Additional capital can also tempt people to “shel-
ter income” to avoid taxes, but Swigert says, “Making an investment for the sole purpose of reducing taxes is generally not a good business decision. Instead of avoiding a tax payment, the producer is delaying a tax payment. Generally, people will accrue less tax over time by keeping their taxable income levels as consis- tent as possible.”
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tscra.org December 2015 The Cattleman 75
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