Presenter Information

Nick Hammett, Circle A Angus Ranch

Start Date

21-1-2012 12:00 AM

Description

Why is efficiency so important to the beef industry? "Efficiency impacts unit cost of production, thereby having the potential to increase beef's competitiveness in both the domestic and global marketplace, to improve industry profitability, and to enhance long-term sustainability of the industry." (Ritchie, 2001). In simple terms, from a producer’s standpoint, efficiency can make you more money by lowering costs, increasing returns, or both. But, only if measured, interpreted and implemented correctly

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Jan 21st, 12:00 AM

Selecting for Efficiency

Why is efficiency so important to the beef industry? "Efficiency impacts unit cost of production, thereby having the potential to increase beef's competitiveness in both the domestic and global marketplace, to improve industry profitability, and to enhance long-term sustainability of the industry." (Ritchie, 2001). In simple terms, from a producer’s standpoint, efficiency can make you more money by lowering costs, increasing returns, or both. But, only if measured, interpreted and implemented correctly