2018-01-17 / News

County Agent’s Corner

Extension Service

West Virginia University

Cindy Smalley Extension Agent

304-258-8400 129 Fairfax Street, Berkeley Springs, WV 25411 www.wvu.edu/~exten/

WVU Extension Service offers easy record keeping for cattle producers

Cattle producers in West Virginia aren’t immune to the ups and downs of the cattle industry, and as in any business, owners need easily interpretable data to review profitability and make timely management decisions. However, few cattle producers accurately gauge their profitability, so the West Virginia University Extension Service is offering the Beef Trans finances program.

The program is a simple, computer-based spreadsheet that helps producers easily see where their operation is at financially, and makes it easy to adopt farm record evaluation and good record-keeping habits.

By using income tax and balance sheet records, the program calculates a beginning and ending net worth statement, net farm income statement and annual cash flow statement. Sixteen ratios recommended by the Farm Financial Standards Task Force are calculated along with other measures to help analyze finances per acre, per cow, per pounds of beef sold and per full-time labor equivalent.

We know being a cattle producer requires a wide skill set to handle all the day-to-day tasks of an operation, and sometimes noting production and keeping accurate financial records fall behind the ‘real’ work. This is an easy way for producers to know where they are in real time and equips them to maximize profits and be prepared for financial strain.

For more information about the program, contact the Morgan County office of the WVU Extension Service at 304-258 8400 or Kevin Shaffer, Extension Livestock Specialist at 304- 293-2669.

The WVU Extension Service is a primary outreach division of West Virginia University. With offices in each of the state’s 55 counties, Extension faculty and staff develop and deliver programs in leadership, rural and community-based economic development, youth development, workforce development and health education.

To learn more about WVU Extension programs, go to www.extension.wvu.edu, or contact your local office of the WVU Extension Service.

WVU Extension Master Gardeners of Morgan County Garden Tip: Clean stored garden tools, create a garden map and begin ordering seeds for early spring planting.

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