Improving profitability and resilience of grazing businesses in Queensland – Preparing for, responding to, and recovering from drought
Preparing for, responding to and recovering from drought or disaster
The Improving profitability and resilience of grazing businesses in Queensland project investigated management strategies and technologies to help grazing businesses be more profitable and resilient.
Economic analyses were conducted to assess strategies and technologies relevant to 5 grazing regions across Queensland, these were:
- Central Queensland
- Central West Queensland – Mitchell Grasslands and Rangelands
- Northern Downs
- Northern Gulf
- Mulga Lands.
The analyses looked at longer term strategic decision making and short-term tactical decision making.
Longer term, strategic decision making: Improving profitability helps to increase business resilience. Therefore, adopting more profitable management strategies is the best way to prepare a grazing business for droughts and other climate and market challenges.
The results and recommendations from the economic analyses of longer-term strategies are available in regional reports, scientific journal publications and presentations.
Short-term, tactical decision-making: When confronted with climatic or market shocks to the business, managers generally need to make short-term destocking and then restocking decisions. These decisions will affect the short and long-term profitability of the business.
Economic spreadsheet tools that can be used to assess tactical destocking and restocking decisions, as well as presentations demonstrating how to use these tools, were also developed as part of the project.
Collectively, these resources can assist livestock producers to make profitable decisions for their businesses.
The key messages from the project cover improving grazing business profitability and resilience and responding to and recovering from drought and disasters.
The project was funded by the Queensland Government’s Drought and Climate Adaptation Program (2017-2021).
For more information about the project please contact the project leader—Dr Maree Bowen, DPI Rockhampton at maree.bowen@dpi.qld.gov.au.