2020 - 2021 Profitability Challenge
Verbal Enrollment Deadline - One Week Prior to Delivery Date
Wean Yearlings - On or Before July 29, 2020
Wean Calf Feds - On or Before October 28, 2020
Deliver Yearlings - September 11-13, 2020
Deliver Calf Feds - December 11-13, 2020
$15,000 - Cash & Prizes - Top 5 Profitability Champion Steers
2019-2020 Final Rankings
The formula calculation for the Profitability Challenge takes into account several different costs and revenue data points. The costs associated with each animal include the initial cost associated with each of the calves as they are entered into the program, which was based on the market price at the time and the weight of the calf at delivery. The medical cost associated with each calf includes the initial vaccination cost as well as any additional medical attention required throughout the program. The yardage cost of each animal was calculated by multiplying the number of days each calf spent on feed by $0.40. By adding each of the columns associated with cost, we find the total cost to finish each animal. In the revenue section, the carcass value is found by multiplying the carcass weight by the market price. The premium/discount assigned by the processor is added to the carcass value to find the total revenue associated with each steer. The profit/loss of each calf is calculated last by subtracting the total cost to finish each steer from the total revenue generated by the finished steers.
For an example of how the formula works, we will use the price from the delivery on May 7. The first place steer #92467 has a starting cost of $1,021.56. We add the CAB Premium of $74.80, medical costs of $7.79, feed costs of $447.23 and yardage costs of $60 to the feeder-calf value to find our total cost to finish the animal of $1,611.38. To find the total revenue of this steer, we add the carcass value of $1,439 to the premium of $62.33 for a total revenue of $1,501.
To find the final profit or loss for the animal, we subtract the cost of $1,611.38 from the revenue of $1,501 for a total loss of $110.55.
The steer that placed 25th, #9353, has a starting cost of $1,078.88. We add medical costs of $65.29, feed costs of $385.34 and yardage costs of $60 to the feeder-calf value to find our total cost to finish the animal of $1,589.51. To find the total revenue of this steer, we add the carcass value of $1,256 to the discount of $118.35 for a total revenue of $1,137.
To find the final profit or loss for the animal, we subtract the cost of $1,589.51from the revenue of $1,137 for a total loss of $452.36.
To find harvest and intake data, see the links below.
Click the link above to access the harvest data gathered during the 2019-2020 Profitability Challenge.
Click the link above to access the intake data gathered during the 2019-2020 Profitability Challenge.