This project developed and delivered resources on management and economic considerations that influence risk-based retained ownership decisions for beef cattle producers. The project team provided education on retained ownership as a risk management strategy that focused on the following major areas:
- Cattle feeding in Texas and the Southern Plains
- The cattle feeding and marketing process
- Risks and opportunities associated with retaining ownership of cattle through finishing
- Production risk management strategies, practices, and decisions that influence finishing outcomes and impact the potential profitability of retained ownership
- Major financial and market risk management options available to mitigate risk associated with feeding costs or the value of fed cattle
- Different cattle feeding and marketing arrangements available to producers that retain ownership in calves
The major objective of the program was to enhance the ability of producers and their decision-support network to make informed, risk-based decisions on retaining partial or complete ownership of beef, dairy, or composite calves through finishing. This was achieved primarily through a county Extension Agent training workshop and two in-person workshops for beef cattle producers and other industry stakeholders. Additionally, the team initiated development of a decision-making tool that will enhance the ability of producers to evaluate the economic consequences of retained ownership decisions.