Crunching the numbers, getting the good oil

Have you ever wondered what the most profitable turn off weight is for your steers? Or how your herd structure would change if you kept more replacement heifers? Maybe you’ve considered implementing a new management practice but aren’t sure if it would be profitable?

The good news is, DAF has an online herd budgeting software package, which can help you answer all of the above and more.  The even better news is that we can help you do it!

The Breedcow and Dynama Online software package is designed to plan, evaluate and improve the profitability and financial management of beef operations. There are a several different programs that can analyse a range of strategies for your business, including:

  • Comparing the likely profitability of the herd under different management or turnoff systems
  • Making forward projections of stock numbers, sales, cash flow, net income, debt and net worth
  • Deciding what to sell when the season goes sour, or what to buy when there is an opportunity
  • Evaluating investments in herd or property improvement to determine the rate of return on extra capital, the number of years to breakeven and the peak debt.

The DAF beef extension team work alongside a grazing economist to analyse the different scenarios that you want to investigate. Below is what’s involved:

  • a property visit to collect all of the baseline data (what you put in, determines the quality that you get back, so having meaningful numbers and records is needed for meaningful results)
  • a few follow up phone calls and emails while the numbers get crunched
  • a written report and a meeting to discuss the options.

The Burdekin has recently welcomed new grazing economist team member, Nathan Penny, who is based in Townsville. Nathan recently worked for Westpac New Zealand as a Senior Agri Economist and has 20 years’ experience as a professional economist.

I think the best part of my new job is the ability to jump in a ute alongside an extension officer and then head out to meet farmers across North Queensland. I’ve heard the on-farm hospitality is great in these parts and I’m looking forward to both sharing economic insights and learning what makes North Queensland farmers tick.”

Nathan Penny, DAF Economist.

Please reach out to your local beef extension officer if you would like to learn more about Breedcow & Dynama, or to organise a property visit.

Written by Bec Clapperton, Department of Agriculture and Fisheries (DAF)