Ontario Beef Cow Calf Summary - 2007Average of 41 Beef Cow Calf FarmsHigh 14 farms by per cow enterprise income Table of Contents
Financial Summary - Cow Calf Enterprise Analysis ProgramKey Financial Measures for Average of 41 Beef Cow Calf Farms - 2007
Profitability measures how well the business is
able to generate a profit. Key Performance Indicators - 2007
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| Key Performance Indicators | Low 14 Farms | Avg 41 FArms | High 14 Farms |
|---|---|---|---|
| 1. Gross return per calf weaned |
$451.39
|
$587.55
|
$652.80
|
| 2. Feed cost per cow |
$590.46
|
$505.21
|
$427.17
|
| 2. Feed cost per calf weaned |
$693.56
|
$559.48
|
$464.00
|
| 3. Calves weaned per cow |
0.85
|
0.90
|
0.92
|
| Low 14 Farms | Avg 41 Farms | High 14 Farms | |
|---|---|---|---|
| Market Livestock |
16,822
|
41,430
|
36,636
|
| Feeder Livestock |
17,318
|
30,161
|
49,967
|
| Breeding Stock |
5,873
|
5,414
|
6,532
|
| Cull Stock |
6,030
|
5,311
|
5,209
|
| Other Livestock |
562
|
4,869
|
3,349
|
| Crop Sales |
42,919
|
28,398
|
18,408
|
| Custom Work |
5,058
|
5,094
|
3,764
|
| Other Sales |
13,308
|
28,807
|
60,357
|
| Total Cash Revenue |
$107,890
|
$149,484
|
$184,222
|
| Change in Accounts Receivable |
85
|
-357
|
-1,072
|
| Changes in Inventory |
-3,244
|
-9,168
|
-22,772
|
| Total Farm Revenue |
$104,731
|
$139,959
|
$160,378
|
| Variable Expenses | Low 14 Farms | Avg 41 Farms | High 14 Farms |
|---|---|---|---|
| Livestock - Purchased Livestock |
6,601
|
19,075
|
14,180
|
| Pur. Feed-Conc., Grain & Forage |
12,155
|
22,242
|
34,352
|
| Animal Health & Breeding |
3,725
|
4,919
|
7,932
|
| Other (lvsk Stabztn, Barn Sppls) |
2,764
|
1,516
|
990
|
| Crop Inputs - Seed & Plants |
6,604
|
5,570
|
5,313
|
| Fertilizer & Lime |
11,849
|
10,161
|
10,602
|
| Pesticides & Other Chemicals |
3,604
|
2,229
|
461
|
| Containers and Twine |
1,001
|
1,143
|
1,206
|
| Other (Lvsk Stabztn, Barn Sppls) |
3,514
|
1,879
|
755
|
| Marketing & Transportation Costs |
1,583
|
2,877
|
3,587
|
| Custom Work, Equipment Rent |
11,248
|
6,678
|
5,071
|
| Hired Labour |
2,982
|
6,288
|
11,499
|
| Machinery & Equipment - Fuel & Oil |
5,186
|
7,539
|
9,143
|
| Machinery & Equipment - Repairs |
6,505
|
7,445
|
8,857
|
| Motor Vehicle Expenses |
3,262
|
2,856
|
2,333
|
| Building, Fence Repairs |
8,476
|
4,885
|
3,683
|
| Heating Fuel |
113
|
224
|
183
|
| Electricity & Telephone |
2,791
|
3,531
|
4,583
|
| Accounting, Office Expenses |
1,569
|
1,645
|
2,246
|
| Interest (Operating) |
2,376
|
1,845
|
1,499
|
| Other Cash Operating Expenses |
7,347
|
5,965
|
7,299
|
| Change in Payables |
-1,522
|
-480
|
-131
|
| Total Variable Expenses |
$103,733
|
$120,032
|
$135,643
|
| Contribution Margin |
$998
|
$19,927
|
$24,735
|
| Low 14 Farms | Avg 41 Farms | High 14 Farms | |
|---|---|---|---|
| Property Taxes, Fire & Liab. Ins. |
5,066
|
5,854
|
6,797
|
| Lease & Rent Payments |
4,092
|
5,048
|
6,318
|
| Interest (Term) |
9,118
|
6,600
|
2,427
|
| Change in Interest Arrears |
0
|
0
|
0
|
| Depreciation |
22,468
|
22,142
|
22,022
|
| Total Fixed expenses |
40,736
|
39,644
|
37,564
|
| Total Expenses |
144,469
|
459,676
|
173,207
|
| - Less Personal Share of Expenses |
-405
|
-278
|
0
|
| Total Farm Expenses |
$144,064
|
$159,398
|
$173,207
|
| Net Farm Income |
-$39,333
|
-$19,439
|
-$12,829
|
| Low 14 Farms | Avg 41 Farms | High 14 Farms | |
|---|---|---|---|
| Market Livestock |
$0.00
|
$5.57
|
$0.00
|
| Feeder Livestock |
451.39
|
530.55
|
600.98
|
| Breeding Livestock |
65.68
|
48.73
|
53.45
|
| Cull Stock |
101.86
|
63.58
|
42.58
|
| Livestock Stabilization |
0.00
|
0.53
|
1.06
|
| Other Livestock Enterprise Sales |
1.52
|
6.06
|
0.19
|
| - Livestock Purchased |
-88.72
|
-66.56
|
-42.91
|
| + Inventory Change |
-79.24
|
-28.41
|
-15.00
|
| + Change in Receivable |
-2.50
|
0.24
|
1.77
|
| Enterprise Production |
$449.98
|
$560.29
|
$642.13
|
| Livestock Expenses | Low 14 Farms | Avg 41 Farms | High 14 Farms |
|---|---|---|---|
| Purchased feed & grain |
98.34
|
74.06
|
60.86
|
| Purchased forages |
6.94
|
27.75
|
38.75
|
| Home-grown grains transferred |
29.30
|
21.62
|
21.73
|
| Home-grown forages transferred |
455.88
|
381.78
|
305.84
|
| Total Feed Cost |
$590.46
|
$505.21
|
$427.17
|
| Animal Health & Breeding |
61.32
|
40.38
|
33.86
|
| Other (Stabilization, Supplies) |
43.36
|
16.74
|
7.66
|
| Marketing, Transportation |
17.42
|
15.90
|
15.72
|
| Custom Work, Equipment Rent |
19.81
|
11.53
|
9.40
|
| Hired Labour |
35.37
|
17.49
|
14.64
|
| Machinery & Equipment - Fuel & Oil |
33.45
|
25.98
|
22.26
|
| Machinery & Equipment - Repair |
39.21
|
22.89
|
14.03
|
| Motor Vehicle Expenses |
31.08
|
13.46
|
5.71
|
| Building, Fence Repairs |
61.22
|
26.28
|
12.43
|
| Heating Fuel |
1.08
|
1.01
|
0.29
|
| Electricity & Telephone |
22.40
|
16.62
|
12.73
|
| Accounting, Office Expenses |
16.79
|
9.58
|
7.58
|
| Interest - Operating |
17.01
|
9.77
|
6.33
|
| Other Cash Variable Expenses |
27.96
|
15.28
|
8.67
|
| Change in Payables |
-19.53
|
-4.83
|
0.60
|
| Total Variable Expenses |
$998.40
|
$743.29
|
$599.09
|
| Contribution Margin |
-$548.42
|
-$183.00
|
$43.04
|
| Low 14 Farms | Avg 41 Farms | High 14 Farms | |
|---|---|---|---|
| Property Taxes, Fire & Liab. Ins |
40.07
|
26.55
|
17.09
|
| Lease & Rent Payments |
5.41
|
9.81
|
10.61
|
| Interest - Term |
61.72
|
19.72
|
3.49
|
| Depreciation |
152.77
|
88.47
|
43.78
|
| Total Field Expenses |
259.97
|
144.55
|
74.97
|
| Total Enterprise Expenses |
$1,258.37
|
$887.84
|
$674.05
|
| Net Enterprise Income |
-$808.39
|
-$327.56
|
-$31.93
|
| Low 14 Farms | Avg 41 Farms | High 14 Farms | |
|---|---|---|---|
| Market Livestock |
$0.00
|
$6.17
|
$0.00
|
| Feeder Livestock |
530.20
|
587.55
|
652.80
|
| Breeding Livestock |
77.14
|
53.97
|
58.06
|
| Cull Stock |
119.64
|
70.41
|
46.25
|
| Livestock Stabilization |
0.00
|
0.58
|
1.16
|
| Other Livestock Enterprise Sales |
1.79
|
6.71
|
0.20
|
| - Livestock Purchased |
-104.21
|
-73.71
|
-46.60
|
| + Inventory Change |
-93.08
|
-31.46
|
-16.29
|
| + Change in Receivables |
-2.94
|
0.27
|
1.92
|
| Enterprise Production |
$528.55
|
$620.48
|
$697.49
|
| Livestock Expenses | Low 14 Farms | Avg 41 Farms | High 14 Farms |
|---|---|---|---|
| Purchased feed & grain |
115.52
|
82.02
|
66.11 |
| Purchased forages |
8.15
|
30.73
|
42.09
|
| Home-grown grains transferred |
34.41
|
23.94
|
23.60
|
| Home-grown forages transferred |
535.48
|
422.79
|
332.21
|
| Total Feed Cost |
$693.56
|
$559.48
|
$464.00
|
| Animal Health & Breeding |
72.02
|
44.72
|
36.78
|
| Other (Stabilization, Supplies) |
50.93
|
18.54
|
8.32
|
| Marketing, Transportation |
20.46
|
17.61
|
17.08
|
| Custom Work, Equipment Rent |
23.27
|
12.77
|
10.21
|
| Hired Labour |
41.55
|
19.36
|
15.90
|
| Machinery & Equipment - Fuel & Oil |
39.29
|
28.77
|
24.18
|
| Machinery & Equipment - Repair |
46.05
|
25.34
|
15.24
|
| Motor Vehicle Expenses |
36.51
|
14.91
|
6.20
|
| Building, Fence Repairs |
71.90
|
29.10
|
13.50
|
| Heating Fuel |
1.27
|
1.11
|
0.31
|
| Electricity & Telephone |
26.31
|
18.41
|
13.83
|
| Accounting, Office Expenses |
19.72
|
10.61
|
8.23
|
| Interest - Operating |
19.98
|
10.82
|
6.88
|
| Other Cash Variable Expenses |
32.84
|
16.92
|
9.42
|
| Change in Payables |
-22.94
|
-5.34
|
0.65
|
| Total Variable Expenses |
$1,172.73
|
$823.14
|
$650.74
|
| Contribution Margin |
-$644.17
|
-$202.66
|
$46.75
|
| Low 14 Farms | Avg 41 Farms | High 14 Farms | |
|---|---|---|---|
| Property Taxes, Fire & Liab. Ins |
47.06
|
29.40
|
18.57
|
| Lease & Rent Payments |
6.35
|
10.86
|
11.52
|
| Interest - Term |
72.50
|
21.84
|
3.79
|
| Depreciation |
179.44
|
97.97
|
47.56
|
| Total Field Expenses |
305.36
|
160.08
|
81.43
|
| Total Enterprise Expenses |
$1,478.08
|
$983.22
|
$732.17
|
| Net Enterprise Income |
-$949.53
|
-$362.74
|
-$34.68
|
|
Current Assets
|
Low 14 Farms | Avg 41 Farms | High 14 Farms |
|---|---|---|---|
| Cash (on hand and in bank) |
5,026
|
9,522
|
16,683
|
| Accounts Receivable |
1,341
|
1,239
|
1,477
|
| Market & Feeder Livestock |
15,512
|
48,238
|
58,074
|
| Home-grown Crops |
34,141
|
32,550
|
30,558
|
| Purchased Feed & Supplies |
4,600
|
3,951
|
6,052
|
| Other Current Assets |
0
|
0
|
0
|
| Total Current Assets |
$60,620
|
$95,500
|
$112,844
|
|
Long Term Assets
|
Low 14 Farms | Avg 41 Farms | High 14 Farms |
|---|---|---|---|
| Breeding Livestock |
75,602
|
95,081
|
135,028
|
| Market Quota |
0
|
0
|
0
|
| Field Machinery |
132,945
|
147,406
|
168,188
|
| Barn Equipment |
3,795
|
7,744
|
11,726
|
| Farm Buildings |
188,788
|
186,991
|
191,293
|
| Land |
466,190
|
437,847
|
503,361
|
| Other Long Term Assets |
73,169
|
76,744
|
90,510
|
| Total Long Term Assets |
$940,489
|
$951,813
|
$1,100,106
|
| Total Farm Assets |
$1,001,109
|
$1,047,313
|
$1,212,950
|
|
Liabilities
|
Low 14 Farms | Avg 41 Farms | High 14 Farms |
|---|---|---|---|
| Accounts Payable |
274
|
653
|
670
|
| Interest Arrears |
0
|
0
|
0
|
| Operating Credit |
50,388
|
44,387
|
21,616
|
| Current Portion of Term Debt |
11,905
|
11,157
|
6,698
|
| Total Current Liabilities |
$62,567
|
$56,197
|
$28,984
|
| Term Debt |
149,331
|
89,792
|
37,818
|
| Total Farm Liabilities |
$211,898
|
$145,989
|
$66,802
|
| Equity in Farm Business |
$789,211
|
$901,324
|
$1,146,148
|
|
Expenses & NFI Relative to VFP
|
Low 14 Farms | Avg 41 Farms | High 14 Farms |
|---|---|---|---|
| (Adj. Prod. Cst. - Int)/VFP |
106.3%
|
88.7%
|
88.3%
|
| Depreciation / VFP |
26.1%
|
22.4%
|
19.7%
|
| Interest / VFP |
13.4%
|
8.6%
|
3.5%
|
| Net Income / VFP |
-45.7%
|
-19.7%
|
-11.5%
|
| Interest & Principal / VFP |
23.6%
|
17.8%
|
9.9%
|
| Low 14 Farms | Avg 41 Farms | High 14 Farms | |
|---|---|---|---|
| Farm Labour (person eq.) |
1.2
|
1.4
|
1.4
|
| Low 14 Farms | Avg 41 Farms | High 14 Farms | |
|---|---|---|---|
| Cash Revenue minus Cash Expenses |
-$15,633
|
$11,470
|
$32,906
|
| plus Interest Payment |
11,486
|
8,445
|
3,926
|
| plus Non-farm Revenue |
23,929
|
13,038
|
963
|
| minus Owners Withdrawals & Income Tax |
-8,812
|
-12,216
|
-16,462
|
| Cash Avail. for Debt Serv. and Cap. Purc. |
$10,970
|
$20,737
|
$21,333
|
| minus committed Interest & Principal* |
-21,512
|
-18,046
|
-10,526
|
| minus Reserve for Capital Purchases (Depreciation) |
-22,468
|
-22,142
|
-22,022
|
| Available After Reserve to Service Additional Debt |
-$33,010
|
-$19,451
|
-$11,215
|
| Low 14 Farms | Avg 41 Farms | High 14 Farms | |
|---|---|---|---|
| Average Number of Cows |
59.2
|
83.5
|
122.2
|
| Calves Born |
55.0
|
80.0
|
118.0
|
| Calves Died |
6.0
|
5.0
|
6.0
|
| Calves Weaned |
50.4
|
75.4
|
112.5
|
| Calves Born per Cow |
0.9
|
1.0
|
1.0
|
| Calves Weaned per Cow |
0.9
|
0.9
|
0.9
|
| Average Cows per Person (Enterprise) |
98.7
|
139.2
|
203.7
|
| Average Cows per Person (Whole Farm) |
49.3
|
59.6
|
87.3
|
|
Revenue
|
Low 14 Farms | Avg 41 Farms | High 14 Farms |
|---|---|---|---|
| Wheat |
$39.79
|
$19.46
|
$3.70
|
| Spring Grains |
15.66
|
6.80
|
0.00
|
| Grain Corn |
17.94
|
16.58
|
22.50
|
| Soybeans |
13.72
|
15.25
|
11.20
|
| Forage |
10.85
|
5.28
|
1.18
|
| Fruits |
0.00
|
3.09
|
0.00
|
| Vegetables |
0.00
|
0.00
|
0.00
|
| Homegrown Seed |
0.39
|
0.55
|
1.10
|
| Other Crops Sales |
14.47
|
5.81
|
2.63
|
| Crop Insurance |
7.02
|
3.69
|
0.74
|
| Crop Stabilization |
0.82
|
1.03
|
1.68
|
| Value Grains Fed to Livestock |
7.38
|
17.92
|
27.07
|
| Value Forages Fed to Livestock |
83.23
|
101.98
|
97.25
|
| + Inventory change |
11.14
|
-4.21
|
-23.01
|
| + Change in receivables |
-0.20
|
-0.62
|
-0.47
|
| Value of Enterprise Production |
$222.21
|
$192.63
|
$145.56
|
|
Variable Expenses
|
Low 14 Farms | Avg 41 Farms | High 14 Farms |
|---|---|---|---|
| Seed & Plants |
18.57
|
15.21
|
12.91
|
| Fertilizer & Lime |
33.31
|
27.75
|
25.76
|
| Pesticides & Other Chemicals |
10.13
|
6.09
|
1.12
|
| Containers and Twine |
2.81
|
3.12
|
2.93
|
| Other (Stabztn, Insurance Etc.) |
9.88
|
5.13
|
1.83
|
| Marketing & Transportation |
1.32
|
1.33
|
1.92
|
| Custom Work, Equipment Rent |
26.61
|
13.45
|
5.95
|
| hired Labour |
2.45
|
5.80
|
6.92
|
| Machinery & Equipment - Fuel & Oil |
8.40
|
13.11
|
14.83
|
| Machinery & Equipment - Repair |
10.33
|
12.69
|
13.76
|
| Motor Vehicle Expenses |
2.35
|
2.83
|
2.52
|
| Building, Fence Repairs |
2.32
|
1.74
|
1.56
|
| Heating Fuel |
0.06
|
0.12
|
0.10
|
| Electricity & Telephone |
1.71
|
1.89
|
1.24
|
| Accounting, Office Expenses |
0.77
|
1.21
|
1.52
|
| Interest (Operating) |
2.45
|
1.77
|
0.72
|
| Other Variable Cash Expenses |
13.01
|
9.37
|
10.41
|
|
Change in Payables |
0.00
|
0.39
|
0.00
|
|
Total Variable Expenses |
$146.49
|
$123.00
|
$105.99
|
|
Contribution Margin |
$75.71
|
$69.62
|
$39.58
|
|
Fixed Expenses
|
Low 14 Farms | Avg 41 Farms | High 14 Farms |
|---|---|---|---|
| Property Taxes, Fire & Liability Insurance |
6.49
|
6.30
|
6.01
|
| Lease & Rent Payments |
8.55
|
9.51
|
8.65
|
| Interest (Term) |
14.01
|
13.06
|
4.83
|
| Depreciation |
37.74
|
40.17
|
40.18
|
| Total Fixed Expenses |
$66.79
|
$69.04
|
$59.66
|
| Total Expenses |
$213.28
|
$192.04
|
$165.65
|
| Net Enterprise Income |
$8.93
|
$0.59
|
-$20.09
|
|
Crop
|
Low 14 Farms | Avg 41 Farms | High 14 Farms | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Acres Grown | Total Yield | Yield per Acre | Acres Grown | Total Yield | Yield per Acre | Acres Grown | Total Yield | Yield per Acre | |
| Wheat |
51.9
|
66.6
|
1.3
|
24.8
|
29.5
|
1.2
|
3.6
|
2.6
|
0.7
|
| Spring grains |
22.4
|
24.8
|
1.1
|
19.1
|
19.9
|
1.0
|
15.4
|
14.6
|
0.9
|
| Grain Corn |
29.1
|
67.4
|
2.3
|
21.7
|
56.1
|
2.6
|
20.2
|
67.3
|
3.3
|
| Soybeans |
14.4
|
11.6
|
0.8
|
18.3
|
9.2
|
0.5
|
19.6
|
2.0
|
0.1
|
| Straw |
xxx.x
|
9.4
|
|
xxx.x
|
16.1
|
|
xxx.x
|
10.2
|
|
| Other Crop |
11.6
|
8.9
|
0.8
|
7.1
|
9.9
|
1.4
|
3.2
|
11.6
|
3.6
|
| Other Crop |
4.3
|
5.7
|
1.3
|
3.2
|
10.6
|
3.3
|
0.9
|
1.4
|
1.6
|
| Corn Silage |
0.4
|
4.0
|
10.0
|
7.2
|
107.0
|
14.9
|
6.6
|
75.0
|
11.4
|
| Hay |
137.8
|
220.4
|
1.7
|
159.5
|
272.5
|
1.8
|
189.0
|
304.7
|
1.8
|
| Haylage |
xxx.x
|
34.1
|
|
xxx.x
|
34.7
|
|
xxx.x
|
58.4
|
|
| Tillable Pasture |
84.0
|
|
|
105.1
|
|
|
153.0
|
|
|
| Rough Pasture |
39.6
|
|
|
91.3
|
|
|
72.2
|
|
|
| Non Crop Land |
22.7
|
|
|
124.2
|
|
|
114.4
|
|
|
| Total Acres |
418.2
|
|
|
581.5
|
|
|
598.1
|
|
|
| Tillable Acres Report |
355.7
|
|
|
366.2
|
|
|
411.6
|
|
|
|
Crop
|
Low 14 Farms | Avg 41 Farms | High 14 Farms | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Acres Grown | Total Yield | Yield per Acre | Acres Grown | Total Yield | Yield per Acre | Acres Grown | Total Yield | Yield per Acre | |
| Wheat |
0
|
0
|
0
|
2
|
372
|
4
|
4
|
1,091
|
9
|
| Spring grains |
6
|
771
|
13
|
5
|
705
|
8
|
5
|
678
|
6
|
| Grain Corn |
6
|
930
|
16
|
3
|
388
|
5
|
1
|
171
|
1
|
| Soybeans |
0
|
33
|
1
|
0
|
0
|
0
|
0
|
0
|
0
|
| Straw |
22
|
1,962
|
33
|
18
|
1,656
|
20
|
9
|
837
|
7
|
| Other Crop |
0
|
0
|
0
|
3
|
341
|
4
|
7
|
715
|
6
|
| Other Crop |
6
|
342
|
6
|
2
|
144
|
2
|
1
|
84
|
1
|
| Corn Silage |
18
|
648
|
11
|
43
|
1,548
|
19
|
31
|
1,116
|
9
|
| Hay |
235
|
17,618
|
298
|
253
|
18,990
|
227
|
274
|
20,513
|
168
|
| Haylage |
37
|
2,041
|
34
|
39
|
2,162
|
26
|
73
|
4,015
|
33
|
| Tillable Pasture |
64
|
3,858
|
65
|
100
|
5,994
|
72
|
154
|
9,264
|
76
|
| Rough Pasture |
21
|
520
|
9
|
55
|
1,385
|
17
|
62
|
1,545
|
13
|
| Total |
|
28,722
|
485
|
|
33,684
|
403
|
40,029
|
328
|
|
|
Allocated Investment from the Balance
Sheet
(year end values) |
Low 14 Farms | Avg 41 Farms | High 14 Farms | |||
|---|---|---|---|---|---|---|
| Crops per Acre | Lvsk per Cow | Crops per Acre | Lvsk per Cow | Crops per Acre | Lvsk per Cow | |
| Home Grown Crops & Supplies |
102
|
13
|
93
|
16
|
79
|
24
|
| Feeder & Market Livestock |
|
177
|
|
232
|
|
253
|
| Breeding Stock |
|
1,277
|
|
1,110
|
|
1,048
|
| Market Quota |
0
|
0
|
0
|
0
|
0
|
0
|
| Machinery & Equipment |
374
|
64
|
400
|
82
|
409
|
75
|
| Land & Farm Buildings |
1,411
|
2,162
|
1,305
|
1,397
|
1,329
|
856
|
| Enterprise Assets/Unit |
1,887
|
3,704
|
1,798
|
2,842
|
1,817
|
2,261
|
| Total Enterprise Assets |
671,378
|
219,261
|
658,453
|
237,341
|
747,800
|
276,235
|
| Debt per Acre & per Cow |
596
|
3,579
|
399
|
1,748
|
162
|
547
|
| Author: | John Molenhuis, Cost of Production and Program Lead/OMAFRA |
|---|---|
| Creation Date: | 12 January 2010 |
| Last Reviewed: | 12 January 2010 |