| PROJECT SUMMARY |
Extension specialists worked with 71 livestock producers, conducting one-to-one risk assessments for ranching operations throughout Texas. Utilizing stochastic simulation techniques via the FARM Assistance decision support software, producers received an evaluation of the likely financial health of their ranch businesses into the future under various risk management/marketing/financial scenarios. 24 program participants were a direct result of the partnership and promotional efforts with TSCRA.
From these analyses, a detailed study of the characteristics of profitable and unprofitable businesses was developed. By disseminating that study to the membership of the Texas and Southwestern Cattle Raisers Association (TSCRA), we will provide insight to financial risks and the factors that contribute to profitability for ranchers across Texas. With a TSCRA membership of 12,500, the impact of the project extends well beyond the 71 direct participants to potentially hundreds gaining immediate knowlege of profit contributors. Many others are expected to learn of and take advantage of the opportunity to engage in the management services offered by Texas Cooperative Extension´s FARM Assistance program to better evaluate critical strategic decisions. |
| NUMBER OF PARTICIPANTS: 71 |
| TOPICS COVERED |
| Product and enterprise diversification |
| Cash and futures pricing tools |
| Marketing strategies, plans and clubs |
| Direct, wholesale, and processing markets |
| Contract production, branded or certified marketing, and value-added enterprises |
| Financial records, analysis, and bench-marking |
| Credit |
| Business and strategic planning |
