How Leading Canadian Commercial Cow-Calf Producers Use Production And Financial Records: A Qualitative Analysis

Brooklyn Wong, Kathy Larson and Eric Micheels

No 345961, Agricultural Economics Society (AES) 98th Annual Conference, The University of Edinburgh, Edinburgh, UK, March 18-20, 2024 from Agricultural Economics Society (AES)

Abstract: Cattle ranching is an industry characterized by narrow margins and low rates of return. As a result, it is important to track performance and make necessary adjustments in order to achieve desired financial and productivity goals. Record keeping enables ranchers to track many different areas of their ranch and monitor progress towards their goals. While record keeping is a recommended management practice there is no ‘one size fits’ all approach on which records to keep and how to use the records to make decisions and assess performance. Interviews conducted with fourteen leading commercial cow-calf ranchers across Canada showed that record-keeping helps inform decision-making and is closely related to the individual and business goals and values of each rancher. Therefore, it is important for ranchers to first identify their goals and tailor record-keeping methods to effectively monitor progress toward those goals.

Keywords: Industrial Organization; Livestock Production/Industries (search for similar items in EconPapers)
Pages: 11
Date: 2022
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Working Paper: How Leading Canadian Commercial Cow-Calf Producers Use Production And Financial Records: A Qualitative Analysis (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aes324:345961

DOI: 10.22004/ag.econ.345961

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