16 Nebraska Cattleman November 2023 might be used to improve grazing management and increase forage use. Consider purchasing fencing supplies now when cash is available. Strategic use of electric fence tools and technology can provide a rapid payback on investment through improved forage management. • Think about investments that could have a multiyear benefit, especially for improved pastures and hay meadows. Consider soil testing and investing in fertilizer that will benefit fertility and productivity on planted pastures and hay fields. Look at renovations such as adding legumes that can cost-effectively improve the quantity and quality of forage. • Evaluate your ability to buy inputs in bulk. There are often cost advantages to being able to buy truckloads of products or buy inputs seasonally when prices historically are lower. • Consider adding a scale to your operation. Knowing accurate weights of cattle has management and marketing benefits. • Evaluate working and load-out facilities. Improvements may provide a safer environment and better working experience for cattle and the people who are handling them. • Invite a team of people to evaluate and give you feedback on your business. Find people who will challenge you and who think differently from you. Just one or two ideas could have an impact on long-term business success. • Develop a written capital investment plan for the replacement and improvement of ranch infrastructure. The buildings, equipment, facilities, water systems, fences, etc., on the ranch all wear out and will need to be replaced at some point. Think through where investments should be made strategically now and in the next few years to meet longterm goals. This year, as well as 2024 and 2025, are expected to be profitable for many cow-calf producers. However, we all know that isn’t guaranteed, so “planning for the worst and hoping for the best” is still good advice. Thinking ahead now and purposefully planning for what to do with profits can increase the long-term success of the operation. NC Thinking ahead now and purposefully planning for what to do with profits can increase the longterm success of the operation. WHAT WILL YOU DO WITH PROFITS? • CONTINUED FROM PAGE 14 A great selection of JAYLOR TMR Vertical Mixers are in stock NOW at: BEEF COW-CALF TMR ECONOMICS 1009 W US HWY 6 HOLDREGE NE 68949 888-995-9565 WWW.HOLDREGEEQUIPMENT.COM LET US SHOW YOU HOW. Scan me for the rest of the story: Obviously, we cannot expect TMR feeding to be practical or economical for everyone, regardless of herd size or production system. But, as feed and energy costs increase and profit margins decrease, it is rapidly becoming more economical and commonplace for beef cow–calf production for the following reasons. BETTER MIX. BETTER RESULTS. BETTER BOTTOM LINE. NC Trade Show Exhibitor
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