Livestock Compass: A Profit Management Tool for Livestock Producers

Knowing your cost of production makes it possible to set prices with confidence and allows a farmer to assess various livestock enterprises, different marketing channels, and actively manage their farm business for profit…a vital component of sustainability. The challenge on many farms is record keeping and having a system to compile those costs so that a producer is making sure to include all costs, including overhead, marketing, labor (including the farmer-owner’s labor) and production costs. Join this webinar to learn about Livestock Compass, a comprehensive Excel spreadsheet tool to help livestock producers measure profitability and identify ways to improve financial outcomes.

After working with many growers on the development and use of Veggie Compass, a spreadsheet tool designed for diversified, fresh-market vegetable growers, the University of Wisconsin has developed a tool for livestock producers called the Livestock Compass. Presenters John Hendrickson and Jim Munsch will review the concept and function of this valuable new tool, demonstrating how it works to measure financial results for the totality of a livestock operation.

About our presenters: John Hendrickson works at the Center for Integrated Agricultural Systems at the University of Wisconsin. His primary activities include coordinating training programs for beginning farmers, developing tools and programs to enhance farm financial viability, and research and outreach on specialty crop production, marketing, and farm management. He has also owned and managed his own farm since 1999.

Jim Munsch is the original designer of the Livestock Compass tool and is also a grass-fed beef producer.

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