Livestock Records

Know Your Numbers, Know Your Options Author

06/18/2020 Added

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By Brad Schick

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[00:00:00.261](upbeat music)
[00:00:07.430]Hello everyone, this is Brad Schick,
[00:00:09.860]a Nebraska extension beef systems educator.
[00:00:11.783]Today, we're gonna be talking
[00:00:14.910]about record keeping for a farming or ranching business.
[00:00:19.860]Record keeping can come in many forms
[00:00:22.110]and everyone has their own system that they prefer.
[00:00:25.800]A shoe box full of receipts is one way to keep records.
[00:00:29.900]However, it is far from being the best
[00:00:32.640]or most effective way to manage a business,
[00:00:36.120]which is what a farm or ranch is, a business.
[00:00:40.350]We often don't think about keeping good records
[00:00:43.230]until it's too late.
[00:00:45.020]Maybe we are getting audited,
[00:00:47.080]maybe the sudden death of a family member
[00:00:49.770]or key employee leaves us grasping for straws
[00:00:53.580]at how an operation is to be run.
[00:00:57.730]Whatever the case may be,
[00:00:59.650]good records allow us to make sound management decisions
[00:01:04.360]that will increase our savviness
[00:01:06.190]and our sound economic decision making process.
[00:01:10.560]Without records, we don't know where we've been.
[00:01:13.870]And if we don't know where we've been,
[00:01:15.860]we don't know where to are go.
[00:01:18.400]Today, I will discuss some ways to keep records
[00:01:21.620]in various platforms,
[00:01:23.360]as well as several types of records
[00:01:25.230]that should be included in our farm or ranch business
[00:01:28.690]and why they have merit.
[00:01:31.310]Types of records will include feed and hay records,
[00:01:35.580]cow, calf and bull records, vaccination records,
[00:01:40.610]grazing or pasture records.
[00:01:43.090]And lastly, special records such as if an operation has NRCS
[00:01:48.240]or other government agency contracts
[00:01:50.970]or livestock indemnity program payments.
[00:01:56.240]There are many ways and platforms that can be used
[00:01:59.280]to keep good records.
[00:02:01.340]The following discussion is not an exclusive list
[00:02:04.310]and mentioning or not mentioning these,
[00:02:06.530]are not an endorsement of any product.
[00:02:10.200]A classic notebook is a great place
[00:02:12.840]to start for any record.
[00:02:15.360]Since we were talking about records,
[00:02:16.930]primarily for livestock,
[00:02:19.090]one of the classic red books
[00:02:21.200]or other pocket book notebooks
[00:02:23.720]are highly utilized in the industry.
[00:02:26.520]At least it's written down
[00:02:28.210]and someone has the ability to reference it.
[00:02:32.270]A type of physical ledger is even better.
[00:02:35.670]With many people having some sort of mobile device
[00:02:38.710]with a camera function now,
[00:02:40.760]pictures are great records,
[00:02:42.970]but they may need to be put in a different form in order
[00:02:46.506]to have true value.
[00:02:49.860]Typing a note in a phone is another way
[00:02:51.900]to record while not close to a notebook or computer.
[00:02:56.870]Then we transition into more electronic versions
[00:02:59.860]of record keeping.
[00:03:01.520]Spreadsheets such as Excel Microsoft or Google Sheets
[00:03:06.260]are great platforms to stay organized,
[00:03:08.860]but may not have all the features we may want.
[00:03:12.810]Software and apps are available for many records
[00:03:15.820]and maybe free or may cost a one time installation
[00:03:19.610]or otherwise be a subscription style.
[00:03:23.612]Now we are going to go through the types
[00:03:25.860]of records that should be included in our operations.
[00:03:29.870]First feed and hay records.
[00:03:33.310]Feed and hay are sometimes an easy thing to not record,
[00:03:36.850]but feed is the largest cost of cow-calf operations,
[00:03:40.950]and oftentimes of other livestock operations.
[00:03:45.010]Physically counting bales for an inventory,
[00:03:47.930]measuring corn bins that are to be used to feed.
[00:03:52.780]In 2019, when flooding destroyed hay bales,
[00:03:57.180]those who had accurate counts of bales produced
[00:04:01.240]and stored were able to recoup some of their losses
[00:04:04.950]from government agency payments.
[00:04:07.760]Without these records,
[00:04:09.360]a full loss would have been reality.
[00:04:13.850]Keep records of hay and feed quality as well.
[00:04:19.480]First test hay for quality, feeding, purchasing,
[00:04:24.890]or obtaining feed based off sound, quality records
[00:04:29.080]will allow us to better match the feed requirements
[00:04:31.670]of our livestock and reduce the chance of overfeeding
[00:04:35.560]or overpaying for the feed.
[00:04:39.730]Cow, calf and bull records.
[00:04:43.160]There are many levels of records
[00:04:44.800]depending on your operation.
[00:04:46.990]If you are a seed stock producer,
[00:04:49.250]obviously the cow, calf and bowl records are going
[00:04:52.460]to be much more extensive,
[00:04:54.460]whereas a cow-calf producer likely won't have the need
[00:04:58.210]for such extensive and detailed records.
[00:05:01.830]Keeping good records of when a cow gives birth,
[00:05:04.840]how easy her disposition,
[00:05:07.330]are all critical for determining which cow will stay
[00:05:10.180]in the herd and which one needs
[00:05:11.980]to be sold before she costs us more money.
[00:05:16.470]Cold cow sales can be as high as 25%
[00:05:19.100]of an operations income.
[00:05:20.850]If sold at a good time and managed correctly.
[00:05:24.620]There are many apps and software options
[00:05:27.798]that are available for download.
[00:05:30.550]Vaccinations, vaccination records are arguably
[00:05:35.060]the most important.
[00:05:36.840]Knowing what livestock have been given
[00:05:39.230]and having a set protocol on record for what treatment
[00:05:42.330]is to be given are critical
[00:05:44.760]and can sometimes have legal ramifications
[00:05:47.410]if not done correctly.
[00:05:49.780]Keep labels and lot numbers for all vaccine given.
[00:05:53.530]This might just be a picture of the bottle or box.
[00:05:57.420]We need to be aware of withdrawal periods
[00:05:59.690]for anything administered to harvested animals.
[00:06:03.170]Also, calves going through the sale barn
[00:06:06.460]often are sold for higher prices
[00:06:08.870]if there are vaccine or treatment records.
[00:06:12.630]Keeping records of implanted animals are also important.
[00:06:14.983]Typically the veterinarian that is utilized
[00:06:19.260]on an operation we'll have some records for your livestock,
[00:06:23.090]but sometimes they won't have any,
[00:06:25.870]depending on how vets are utilized on your operation.
[00:06:30.310]Grazing or pasture records,
[00:06:33.560]grazing or pasture records are probably the most overlooked
[00:06:37.130]and underutilized records.
[00:06:39.850]Rotational grazing is generally better
[00:06:42.100]for pastures and cattle.
[00:06:44.090]We all know that our pastures
[00:06:46.240]and cattle aren't the same
[00:06:48.350]as what our grandparents did or had.
[00:06:51.870]We shouldn't turn out the same 40 head into a pasture,
[00:06:55.210]the same as grandpa and grandma.
[00:06:57.200]Our cattle have different genetics now,
[00:06:59.310]and the pasture may be different.
[00:07:01.830]The health of our livestock operations starts
[00:07:04.890]with the health of our pastures.
[00:07:07.700]Recording the order of pastures rotated will allow us
[00:07:11.040]to change it in the future.
[00:07:13.100]This allows timing of grazing to change
[00:07:15.980]and promotes more productive
[00:07:17.560]and resilient grasses and pasture.
[00:07:20.920]Recording the time spent in a given pasture
[00:07:23.550]will also allow us
[00:07:24.640]to know how much there is to graze
[00:07:26.810]in more extreme weather events for years to come.
[00:07:30.960]If we ever consider leasing out a pasture,
[00:07:33.830]we can better calculate how many larger
[00:07:34.783]or smaller animals can be grazed.
[00:07:40.380]Special records, in extreme weather events
[00:07:44.040]and in global pandemics,
[00:07:46.050]the Livestock Indemnity Program
[00:07:47.990]or other programs from government agencies
[00:07:50.470]are likely to disperse aid.
[00:07:52.880]Without records, these payments may be unlikely
[00:07:56.430]to be approved for your operation.
[00:07:59.130]Bill of sale tickets, veterinarian reports,
[00:08:02.460]pictures, loan agreements,
[00:08:04.720]these all contribute to a thorough record.
[00:08:09.480]Record keeping doesn't have to be complicated,
[00:08:12.510]sometimes just starting is the largest hurdle to overcome.
[00:08:17.080]Trying to expand or add another enterprise or child
[00:08:20.760]into an operation will be much easier
[00:08:23.970]if sound records are kept.
[00:08:26.230]Estate planning will be easier.
[00:08:28.550]Knowing the bottom line will be much quicker and easier.
[00:08:33.730]Record keeping increases our savviness
[00:08:36.200]and our sound economic decision making process.
[00:08:40.110]Thank you.
[00:08:41.668](upbeat music)

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