So What's....."Raising Cows, Raising Profits"

 
  From the Dec 2, 2003 Issue of AgriProfit$
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 Alberta Agriculture and Rural Development (ARD) along with the Innovation in Agribusiness Management Fund and the Agriculture and Food Council are offering a seminar for beef producers called “Raising Cows, Raising Profits” (RCRP). The focus of this full day session is to analyze the long-term (3-5 year) risks in the cattle industry and highlight strategies for managing these risks.
To move past this last year will require knowledge of how to deal with uncertainty over the long-term. Raising Cows, Raising Profits will:
  • show you how to employ strategic thinking and strategic management in your beef business,
  • help you define and set strategies to protect your investment and position you at the leading-edge of the industry, and
  • provide tools and information to improve the profitability of your cow/calf business.
Speaker Nithi Govindasamy from ARD will discuss the international trade scene. He will talk about who were/are our customers, who are our competitors, and what the future might look like regarding the resumption of international beef trade.
    Since the announcement of BSE in Canada in May 2003, we’ve gone from a total ban of U.S. bound live cattle and beef movement at May 20th , to limited movements of beef products, to the prospects of limited live cattle trade. Nithi will put this into context for the future, as a basis for the development of producers’ business strategies.
      Kevin Grier from the George Morris Centre will be discussing US country of origin labeling (COOL) issue and the impact on the Canadian producer. You will learn about the latest regulations, the pro and con US perspectives, the willingness of consumers to pay for trace back/labeling, the Canadian interpretation, and implications of this program on Canadian cattle producers.
        The country of origin labeling program is designed to allow American consumers to differentiate between US and foreign products, including beef. It’s currently a voluntary program, but may become mandatory as soon as September, 2004. Information requirements to meet the program’s labeling and verification criteria, in order to be labeled ‘product of the US’, may cause additional costs and change trade flows to the US. Participants will “take home” valuable strategic information.
          Another key topic that will be included in this session is “the cattle cycle and where we are at”, with speaker Anne Dunford from Canfax. She will discuss the history and current view of the cattle cycle. The factors that drive beef demand and the impact of BSE on the cattle cycle will also be highlighted.
            Ted Darling of ARD will cover the topic of managing uncertainty. Risk and uncertainty have been the name of the game for the Canadian beef industry over the past few years. Dealing with it is difficult, and often very stressful. The focus of Ted’s session is to understand uncertainty, the effects it can have on your operation, and processes to account for uncertainty in your decision making.
              We’ve all heard about the importance of knowing and using your unit costs of production as a key element in driving to long term profitability. However, uncertainty adds a new dimension to the decision making “mix”. Ted will provide insight into risk management basics that you can fold into your business management strategies.
                Plan on attending a session near you (Medicine Hat, High River, Red Deer, Vermilion, Valleyview or Fairview) and learn how to move beyond 2003. To register for the Raising Cows, Raising Profits seminar, please contact the Alberta Ag-Info Centre at 1-800-387-6030. The registration fee is $53.50 (GST included). The registration deadline is January 9, 2004.

                Register early, as space is limited.

                Deidre Moen
                Business Risk Management Specialist - Beef
                Phone: (403) 556-4245
                Fax: (403) 556-7545
                deidre.moen@gov.ab.ca
                 
                 
                 
                 
                For more information about the content of this document, contact Dale Kaliel.
                This document is maintained by Gail Atkinson.
                This information published to the web on December 2, 2003.
                Last Reviewed/Revised on January 7, 2014.