Contributed by Kristen Schulte, Extension Farm Management Field Specialist, email@example.com and Lee Schulz, Extension Livestock Economist, firstname.lastname@example.org.
The changing weather and crop conditions over the past year have raised questions again regarding quality and quantity of feed availability for livestock producers across parts of Iowa. Some producers stretched forage supplies over the winter due to the widespread drought that affected last year’s crops. Some of these same areas are facing a potential limited supply of forage or corn for the coming year due to a wet spring that caused prevented planting or inability to harvest early forages. As of the first week of July, over 70 percent of corn, hay, and pasture acres are in fair to good condition; however, crop progress in much of northeast and north central Iowa is behind the other regions of the state. Although it is unknown what the rest of the growing season will bring, livestock producers can start to plan if they anticipate limited feed inventories. Livestock producers should evaluate feed inventory, feed required and financial position.
Calculating Feed Inventory
Feed inventory can account for what is currently on hand and what is expected to be harvested this growing season as feed for the coming year. Inventory should be recalculated at the end of harvest. All forages and grain allocated for feed need to be accounted for. Forages in upright silos or bunkers can be calculated with estimated capacity tables based on dry matter (DM) and size of the silo or bunker. Feed grain stored on farm will need to be accounted for based on estimated capacity measurements or starting amount less shrink and amount fed. Also, pasture conditions should be monitored to account for supplemental forage if needed.
Feed Inventory Required
Livestock inventory needs to account for all animals that consume raised forage or grain. For each species type, total tons of raised feed fed per year is needed. Also, one needs to account for expected livestock inventory, accounting for expansion or fluctuation in inventory. Daily rations or weekly feed amounts can be used to reach a yearly feed intake value for all raised feed. Differences in DM or nutrient quality may influence amount of feed required over a years’ time. Total feed required will need to last until the following year’s harvest or feed availability date (e.g., alfalfa/grass – June 1; corn silage – September 15; corn – October 1); also, this time can be extended as some forages need to ferment before feeding.
The difference between raised feed available after 2013 harvests and annual feed inventory required will determine if additional feed is needed.
Low Feed Inventory
If feed needs surpass feed availability the producer has a shortage of raised feed. If there is a surplus of feed inventory, one should evaluate if there is an adequate amount of needed carryover. If there is a shortage, one should plan for purchase of additional feed and/or evaluate alternative feedstuffs with their nutritionist or livestock specialist. Although producers may want to save money when purchasing additional feed, it is important to keep in mind quality, feed efficiency, and adequate nutrition for long term viability.
Financial Impact Considerations
Some feed decisions may have an effect on the bottom line. Is purchasing feed a financially feasible solution based on projected breakeven and profitability? What funds are available to purchase additional feed? How do crop insurance proceeds from prevented planting acres correlate with purchased feed at market prices? What ration alternatives can be made to accommodate feed costs or limited feed availability and what are the associated costs? How do these changes affect feed cost per head and how does that compare to your desired feed cost benchmark? All of these answers are ones that each livestock producer will need to evaluate for their operation.
ISU Extension Resources
Estimated feed rations for beef, swine, ewes, and dairy can be found in the livestock budgets on Ag Decision Maker, http://www.extension.iastate.edu/agdm/livestock/html/b1-21.html. A sample feed inventory worksheet can be found on the ISU Extension Dairy Team website, http://www.extension.iastate.edu/dairyteam/sites/www.extension.iastate.edu/files/dairyteam/ISURecovery44FeedInventoryAidMgmt.pdf.
An agricultural economics and business website.