I spoke to a sold-out crowd in Oklahoma last week. With a couple of exceptions, my message was well received. I firmly believe the cow-calf segment of the beef industry is at a Major Turning Point – and I think cow-calf producers need to get prepared.
Among other things, I discussed the two things required to get prepared for the upcoming Major Turning Point. First, you need to find ways to increase pounds of beef produced per acre (NOT per cow). Second, you need to drastically reduce your expenses.
The best way to reduce expenses is to totally eliminate some of them. If you are one of those who think it is impossible to eliminate some of your expenses, then you should sell out at the top of the market. That would be MUCH better than being forced to sell out at the bottom of the market.
Quote Worth Re-Quoting
“Control your expenses better than your competition. This is where you can always find the competitive advantage.” ~ Sam Walton
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