Nine Iowa State University veterinary medical students completed SPA records on herds from Iowa, North Dakota and South Dakota. The Iowa herds were included in the SPA summary for Iowa, but the six North and South Dakota herds were summarized separately. These six herds had an average herd size of 371 cows and had a financial return to capital, labor and management of $175 per cow. Total financial cost per cow averaged $286 for these herds with a range of $211 to $388. Feed utilized averaged 4,442 pounds of dry matter per cow and the average pounds of calf produced per exposed female was 506 pounds

Robbe, Suelee

Strohbehn, Daryl

English

Nine Iowa State University veterinary medical students completed SPA records on herds from Iowa, North Dakota and South Dakota. The Iowa herds were included in the SPA summary for Iowa, but the six North and South Dakota herds were summarized separately. These six herds had an average herd size of 371 cows and had a financial return to capital, labor and management of $175 per cow. Total financial cost per cow averaged $286 for these herds with a range of $211 to $388. Feed utilized averaged 4,442 pounds of dry matter per cow and the average pounds of calf produced per exposed female was 506 pounds.</p

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2001 Beef Research Report — Iowa State University77Standardized Performance Analysis (SPA) Summary for1999-2000 Veterinary Medicine StudentsA.S. Leaflet R1751Suelee Robbe, adjunct instructor, veterinary diagnostic andproduction animal medicine,Daryl Strohbehn, professor, animal scienceSummaryNine Iowa State University veterinary medicalstudents completed SPA records on herds from Iowa,North Dakota and South Dakota.  The Iowa herds wereincluded in the SPA summary for Iowa, but the sixNorth and South Dakota herds were summarizedseparately.  These six herds had an average herd size of371 cows and had a financial return to capital, labor andmanagement of $175 per cow.  Total financial cost percow averaged $286 for these herds with a range of $211to $388.  Feed utilized averaged 4,442 pounds of drymatter per cow and the average pounds of calf producedper exposed female was 506 pounds.IntroductionThe new veterinary graduates' understanding of beefproduction and agricultural economics concerns bothpractitioners and educators.  A significant number ofstudents interested in mixed or food animal practice do notcome from an agricultural background, and this trend islikely to continue.  Therefore innovative methods tointroduce and teach veterinary students about theagricultural industry is critical to the future of the veterinaryprofession.Standardized Performance Analysis (SPA) guidelinesfor beef cowherd records were developed in the early 1990’sby Extension Service and the National Cattlemen’s BeefAssociation.  Many states have implemented theseguidelines into their cow-calf record systems, developedbenchmarking databases, and now assist producers withdecision making processes off of these comparisons.Reports from various states suggest major herd economicimprovements from this type of outreach activity.Materials and MethodsThe Department of Veterinary Diagnostic andProduction Animal Medicine at Iowa State University hasdeveloped an in depth program for veterinary studentsinterested in beef production.  Students are encouraged toenroll in the program their first year in veterinary school.The program requires students to identify a cow calfproducer and track the herd’s production and financialperformance annually while in vet school.  They benchmarktheir producer’s performance with similar herds, whichhelps the student identify outlying parameters in theirproducer’s operations.  The herds are located in NorthDakota, South Dakota and Iowa, and local veterinarians andstate beef economists assist with the process.Students have prepared presentations aboutanalysis/interpretation of data and case reports. They havepresented at The National Cattlemen’s Beef Association’ssummer meeting in August of 2000, conducted a workshopof producers and veterinarians in Aberdeen, SD, andpresented to a regional IRM-SPA working group.  The firststudents to complete the program will graduate in the springof 2001.Nine students completed a financial analysis of theirdesignated beef herds in 1999.  Three were in Iowa, and sixwere in North and South Dakota.  The Iowa herds wereadded to the annual Iowa SPA summary compiled throughthe beef center (publication IBC-12).  The North and SouthDakota herds were significantly different in terms of size,production, cost of forages, and capital investments.Therefore, the North and South Dakota herd results aresummarized independently in this report.Individual cow records are kept on Cowcalf (Universityof Nebraska) or Cow Herd Appraisal Performance Software(CHAPS) (North Dakota State University).  SPA productionand financial records are kept on the ISU-IRM-SPA BeefCow Business Record System (Iowa State University).Students were required to visit their herd a minimum ofthree times per year beginning January 1, 1999.  Studentscompleted their analysis in the spring of 2000 and presentedtheir herds to the class for discussion.Results and DiscussionFinal SPA summaries for the six North and SouthDakota herds were averaged and presented in Tables 1-3.The average herd size was 371 cows and ranged from 188-951 cows for the North and South Dakota herds.  Five of thesix were commercial herds, and one was commercial andseedstock.  All six herds were profitable in 1999 with anaverage return to capital, labor and management of  $175per cow, ranging from $98-$341 on a financial basis. Netprofit (after operator and family labor was paid) averaged$48 per cow and ranged from $28-$207 per cow.Total annual costs per cow averaged $286, and rangedfrom $211-$388.  Total cow costs was a major factor inprofitability. The lower cost herds were more profitable thanthe higher cost herds.The summer of 1999 was an excellent year for forageproduction. Overall, the North and South Dakota producershad extremely low forage production costs.  The averagefinancial cost of hay was $14 per ton and ranged from $7-2001 Beef Research Report — Iowa State University78$29 per ton.  Average dry matter consumption of harvestedforages, silage and purchased feeds was 4,442 lbs. per cowand ranged from 3,581-6,825 lbs. per cow.These six herds were highly productive averaging 506lbs. weaned per cow exposed with a range of 484 lbs.-568lbs.  Market price for weaned calves averaged $88.43 percwt. with a range of $82.73-$95.00 per cwt.ImplicationsBenchmarking a cow-calf operation can be animportant management tool, which, when doneproperly, can assist a producer in determiningproduction and financial strengths and weaknesses.It is critical for veterinary students to understandnormal production and financial parameters.  TheISU-IRM-SPA Beef Cow Business Record can giveveterinarians a record system which whenimplemented with clients and compared against aregional database can assist them in making clientsmore competitive.  Allowing veterinary students atIowa State University to develop this skill has thepotential to impact the profitability of their futureclients and gives them an in-depth view of cow-calfproduction and economics.AcknowledgementsWe would like to thank the producers and theirveterinarians who allowed these students to learn from theirherds, Dr. John Lawrence, Director of the Iowa Beef Centerfor guidance and funds. We would also like to thank Dr.Harlan Hughes, retired North Dakota extension economist,Dr. Eddie Hamilton, South Dakota extension economist,Drs. Doug Ensley and Brent Meyer ISU-VDPAM, and Dr.Mel Pence (now at University of Georgia) for dedicatingtime and thought into this program.  Finally, we would liketo thank Dr. John Thomson (now at Mississippi StateUniversity) for the ideas and guidance he gave during thefirst year of the program2001 Beef Research Report — Iowa State University79Table 1. Return and cost summary for six North and South Dakota beef herds.Economic w/ raisedFinancial Economic hay @ market value1. Return to Capital, Labor & Mgmt. $64,991 $53,141 $50,3312. Return to Labor & Mgmt. $53,143 $31,955 $29,1453. Net Profit XXXXX $17,947 $15,1374. Return per $100 of Feed Fed $378 $263 $2535. Annual % Return on Capital Investment 27% 14% 13%6. Return per Hour of Operator Labor $35.16 $16.56 $14.77Costs for Cow-Calf Enterprises7. January 1 Number of Cows in Herd 371 371 3718. a. Pasture Cost per Cow $82 $109 $109b. Crop Residues per Cow $0 $0 $0c. Harvested Forages per Cow $30 $44 $54d. Non-Purchased Raised Feed Fed per Cow $8 $8 $8e. Purchased Feed per Cow $17 $17 $17f. Total Feed Cost per Cow $137 $178 $1889. Operating Cost per Cow $76 $76 $7610. Depreciation Cost per Cow $40 $40 $4011. Capital Charge per Cow $24 $58 $5812. Hired Labor Cost per Cow $9 $9 $913. Family & Operator Labor Charge per Cow XXXXX $45 $4514. Total Cost per Cow in Herd, January 1 $286 $407 $41615. a. Return to Management per Cow $167 $90 $80b. Margin per Cwt Beef Produced, Inventory Included $26.72 $14.12 $13.03Costs/Cwt for Cow-Calf Enterprises16. Feed Cost per Cwt of Beef Produced $24.78 $31.50 $32.6017. a. Operating Cost per Cwt of Beef Produced $11.27 $11.27 $11.27b. Vet Med Cost per Cwt of Beef Produced $3.69 $3.69 $3.6918. Depreciation Cost per Cwt of Beef Produced $6.80 $6.80 $6.8019. Capital Cost per Cwt of Beef Produced $4.51 $9.99 $9.9920. Family & Operator Labor Cost per Cwt of Beef Produced XXXXX $7.17 $7.1721. Total Cost per Cwt of Beef Produced $51.05 $70.43 $71.52Production & Sales for Cow-Calf Enterprises22. Total Number of Feeder Calves Sold 33523. Average Age at Weaning 20524. Average Weight of Feeder Calves Sold 59825. Pounds of Calf Weight Sold per Cow 53426. Price per Cwt of Feeder Calves Sold $88.4327. Total Number of Breeding Stock Sold 6728. Average Weight of Breeding Stock Sold 1,24329. Pounds of Breeding Stock Sold per Cow 22630. Price per Cwt of Breeding Stock Sold $43.7731. Total Pounds of Beef Produced per Cow 58932. Total Pounds of Beef Sold per Cow 76033. Total Value of Production Sold per Cow $570.222001 Beef Research Report — Iowa State University80Table 2.  Forage, pasture and feed utilization summary for six North and South Dakota beef herds.Financial EconomicForage Production Costs1. Number of Acres in Forage Production 659 6592. Land Charge per Acre $4.38 $11.403. Operating Cost per Acre $24.33 $24.334. Depreciation Cost per Acre $1.86 $1.865. Non-Real-Estate Loan, Interest per Acre $0.85 XXXXX6. Family & Operator Labor per Acre xxxxx $12.287. Total Cost per Acre of Land in Forage Production $31.42 $49.878. Yield per Acre of Forage Production, Tons 2.5 2.59. Land Charge per Ton $2.05 $5.0110. Operating Cost per Ton $11.01 $11.0111. Depreciation Cost per Ton $0.60 $0.6012. Non-Real-Estate Loan, Interest per Ton $0.44 XXXXX13. Family & Operator Labor per Ton xxxxx $4.2914. Total Cost per Ton of Forage Produced $14.10 $20.91Pasture Summary15. Number of Acres Pastured 4500 450016. Land Charge per Acre $9.83 $11.0817. Operating Cost per Acre $1.94 $1.9418. Depreciation Cost per Acre $0.04 $0.0419. Non-Real Estate Loan, Interest per Acre $0.25 XXXXX20. Family & Operator Labor per Acre xxxxx $0.7721. Total Cost per Acre of Land in Pasture Production $12.06 $13.8322. Acres per Cow-Calf Pair 11.99 11.9923. Animal Unit Months (AUM) from Pasture 5148 514824. Pasture Cost per Cow-Calf Pair $82.37 $108.7425. AUM per Acre 1.5 1.526. Cost per AUM $7.30 $9.8027. Cost per Day for 1,000 lbs of Body Weight $0.24 $0.33Aftermath Grazing Summary28. Acres per Producing Cow 1.40 1.4029. Cost per Acre $0.00 $0.0030. Cost per Cow $0.00 $0.0031. AUM per Acre 1.0 1.032. Cost per AUM $0.00 $0.0033. Cost per Day for 1,000 lbs of Body Weight $0.00 $0.00Dry Matter Financial EconomicFeed Utilization Summary (lbs) Value Value34. Raised Hay Fed per Cow 3,889 $29.55 $44.1835. Other Home-Raised Feed Fed per Cow 299 $7.57 $7.5736. Purchased Hay Fed per Cow 0 $0.00 $0.0037. Purchased Supplements Fed per Cow 57 $10.89 $10.8938. Purchased Silages & Concentrates Fed per Cow 198 $6.56 $6.5639. Total Feed Fed per Cow 4442 $54.58 $69.2040. Feed Fed per Cwt. Marketed 583 xxxxxxx xxxxx2001 Beef Research Report — Iowa State University81Table 3.  Reproduction, production and investment summary for six North and South Dakota beef herds.Reproduction & Production Measures1. Pregnancy Percentage 92.8%2. Pregnancy Loss Percentage 3.0%3. Calving Percentage 90.8%4. Calf Death Loss 3.7%5. Calf Crop or Weaning Percentage 87.2%6. Female Replacement Rate 15.0%7. Calf Death Loss Based on No. of Calves Born 0.7%Calving Distribution:8. Beginning Calving Date: 03/01/999.    Calves Born during 1st 21 Days 59.5%10.    Calves Born during 1st 42 Days 87.3%11.    Calves Born during 1st 63 Days 96.0%12.    Calves Born after 1st 63 Days 4.0%Production Performance Measures:13. Average Age at Weaning (Days) 205Actual Weaning Weights14.    Steers/Bulls 61215.    Heifers 57316.    Average Weaning Weight 59317. Pounds Weaned per Exposed Female 506Cost MarketSummary of Investment per Breeding Cow Basis Basis18. Breeding Livestock $563 $72519. Machinery, Equipment & Structures $51 $24320. Current Assets $52 $5221. Total Breeding Stock & Equipment Investment/Cow $665 $1,019Summary of Investment per Forage Production Acre22. Structures & Equipment $7 $9223. Real Estate $57 $10524. Current Assets $31 $4125. Total R.E. & Equipment Investment/Forage Production Acre $95 $23826. Total R.E. & Equipment Investment in Forage Production/Cow $110 $241Summary of Investment per Pasture Acre27. Structures & Equipment $0 $128. Real Estate $32 $6829. Current Assets $3 $330. Total R.E. & Equipment Investment/Pasture Production Acre $35 $7231. Total R.E. & Equipment Investment in Pasture Production/Cow $359 $64332. Total Capital Investment/Cow $1,134 $1,904

Standardized Performance Analysis (SPA) Summary for 1999-2000 Veterinary Medicine Students

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Standardized Performance Analysis (SPA) Summary for 1999-2000 Veterinary Medicine Students

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