What does TCSCF do? What does TCSCF do? Second First We provide - PDF document

Tri-County Steer Carcass Lessons Learned From 34 Years of Futurity (TCSCF) Retained Ownership – Tri-County Steer Carcass Futurity • First year 35 consignors - 106 steers • What is the most profitable steer in the Darrell Busby feedlot? Assistant to the Manager TCSCF Cooperative • Last 14 years, 97,446 steers and heifers from 27 states mostly South and East of Retired ISU Extension Beef Specialist for SW Iowa Iowa and Manitoba ISU Armstrong Farm Learning Center • Twelve member board has oversight of Lewis, IA 51544 cattle fed at 7 different feedlots Tel. 712-769-2600 • Lessons Learned in 34 Years of Retained dbusby@iastate.edu Ownership – The Tri-County Steer Carcass Futurity Experience What does TCSCF do? What does TCSCF do? Second First • We provide genetic, growth, • Collect growth and carcass health, carcass and cost/return data data on retained ownership cattle. • Analyze data and prepare • Consignors use the information to reports for producers produce cattle that are genetically superior, healthier, more docile, • Producers can compare their higher quality and ultimately cattle to other producers return greater profits. • More information provided the • Information is used not only by data analyzed consignors but the entire beef industry. • Information used to get better everyday Profit Profit $/Hd by Year • Profit = Gross Income – Cost of Production $200 $155 • Profit is why Tri-County Steer Carcass $150 $130 Futurity was started 34 years ago $88 $70 $100 $63 • Profit is what we are still interested in $51 $54 $41 $50 $18 $29 • Profit pays the bills $5 $0 • Profit feeds the kids -$2 -$50 • Profit buys new toys -$70 • Profit is the happiness index for retained -$100 ownership -$129 -$150 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 14 Years 97,446 head Average Profit $/hd $38.48 Total Profit for 14 Years $3,750,215

Profit Groups by Year Profit Groups by Year Ranked and Divided into 6ths by Year Ranked and Divided into 6ths by Year • For example, if there were had 6,000 hd in one year • Consigned to the Iowa Tri-County Steer Carcass Futurity • They were sorted from most profitable to least profitable (TCSCF) from 2002–13 • 77,717 head of steers and heifers • The most profitable 1,000 head were averaged • Analysis provided by Certified Angus Beef • Only cattle with complete carcass data • The next most profitable 1,000 head were averaged • Profit = gross income – home value – trucking to feedlot – • The next most profitable 1,000 head were averaged finishing costs • Profit does not include risk management income or • The next most profitable 1,000 head were averaged expense • The next most profitable 1,000 head were averaged • 25 states and Manitoba represented • The least profitable 1,000 head were averaged Profit Groups by Year Profit $/Hd by Profit Group Ranked and Divided into 6ths by Year • This method analysis removes year effect a $250.00 $216.63 • Fluctuations in feeder calf, corn or feed and fed $200.00 Overall effect cattle market b $123.40 $150.00 P<0.0001 • Each animal is ranked within the year it was c $71.92 $100.00 d marketed $26.58 $50.00 Profit $/ $0.00 Hd -$50.00 e -$23.59 -$100.00 -$150.00 -$120.42 f Least 5th 4th 3rd 2nd Most abcdef Means with unlike superscripts differ, P<0.05 Profit $/Hd by Profit Group Profit $/Hd by Profit Group a $250.00 $250.00 a $216.63 $216.63 $200.00 $200.00 Overall effect Overall effect b b $123.40 $123.40 $150.00 P<0.0001 $150.00 P<0.0001 c c $71.92 $71.92 $100.00 $100.00 d d $26.58 $26.58 $50.00 $50.00 Profit $/ Profit $/ $0.00 $0.00 Hd Hd -$50.00 -$50.00 e e -$23.59 -$23.59 -$100.00 -$100.00 -$150.00 -$150.00 -$120.42 -$120.42 f f Least 5th 4th 3rd 2nd Most Least 5th 4th 3rd 2nd Most abcdef Means with unlike superscripts differ, P<0.05 abcdef Means with unlike superscripts differ, P<0.05

Profit $/Hd by Profit Group Profit $/Hd by Profit Group a $250.00 $250.00 $216.63 $216.63 a $200.00 $200.00 Overall effect Overall effect $123.40 b $123.40 P<0.0001 P<0.0001 $150.00 $150.00 b c $71.92 $71.92 c $100.00 $100.00 d $26.58 $26.58 d $50.00 $50.00 Profit $/ Profit $/ $0.00 $0.00 Hd Hd -$50.00 -$50.00 e -$23.59 -$23.59 e -$100.00 -$100.00 -$150.00 -$150.00 -$120.42 -$120.42 f f Least 5th 4th 3rd 2nd Most Least 5th 4th 3rd 2nd Most abcdef Means with unlike superscripts differ, P<0.05 abcdef Means with unlike superscripts differ, P<0.05 Profit Difference $/Hd by Highest and Feedlot In Weight by Profit Group Lowest Profit Group from 2003 to 2012 700 $500.00 690 d 679 $460.64 680 Overall effect $450.00 667 c b 670 661 662 P<0.0001 b 656 b $400.00 a $378.53 660 651 $351.36 $343.19 $344.51 650 $350.00 $328.46 $331.62 $319.33 Profit Feedlot In 640 Difference Wt $300.00 $283.73 630 $231.10 $250.00 620 610 $200.00 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 600 abcdef Means with unlike superscripts differ, P<0.05 Least 5th 4th 3rd 2nd Most abcd Means with unlike superscripts differ, P<0.05 Feeder Market Value $/cwt by Feeder Market Value $/Hd by Profit Profit Group Group $125 $750 $120 $730 $707.52 f $115 $710 Overall effect Overall effect f $671.61 e $110 P<0.0001 $690 P<0.0001 $104.44 e $101.05 $105 $670 d $651.60 c d $634.25 $99.17 c $97.42 b $100 $95.64 $650 $617.32 b Market Market $95 a $630 $91.47 Value $/cwt Value $/hd $596.87 a $90 $610 $85 $590 $80 $570 $75 $550 Least 5th 4th 3rd 2nd Most Least 5th 4th 3rd 2nd Most abcdef Means with unlike superscripts differ, P<0.05 abcdef Means with unlike superscripts differ, P<0.05

Feeder Market vs. Gross Value $/cwt Final Weight by Profit Group by Profit Group a $124.14 1,240 $125 a 1231 1,230 $120 $114.71 b $115 1,220 Overall effect Overall effect $108.88 c $110 P<0.0001 P<0.0001 $104.44 1,210 1204 b f c $101.05 e $103.96 d 1199 $105 $99.17 1,200 $97.42 1192 d $98.32 Market e $100 $95.64 Final Wt 1185 Value $/cwt 1,190 f 1179 $95 $91.47 1,180 Gross $87.93 $90 Value $/cwt 1,170 $85 1,160 $80 $75 1,150 Least 5th 4th 3rd 2nd Most Least 5th 4th 3rd 2nd Most abcdef Means with unlike superscripts differ, P<0.05 abcdef Means with unlike superscripts differ, P<0.05 Warm-up ADG by Profit Group Overall ADG by Profit Group 3.46 3.80 a 3.50 a 3.72 3.70 b 3.34 3.60 Overall effect 3.40 Overall effect b 3.29 3.60 c 3.52 c d P<0.0001 3.26 d P<0.0001 3.47 3.30 3.50 3.20 3.38 e e 3.40 3.20 3.30 f 3.06 ADG ADG 3.10 f 3.13 3.20 3.10 3.00 3.00 2.90 2.90 2.80 2.80 Least 5th 4th 3rd 2nd Most Least 5th 4th 3rd 2nd Most abcdef Means with unlike superscripts differ, P<0.05 abcdef Means with unlike superscripts differ, P<0.05 % Treated Once or 2 or More Times Total Cost of Gain $/cwt by Profit Group by Profit Group $85 $82.08 f $83 20 18.3 f $81 18 Overall effect Overall effect 16 e $79 e P<0.0001 14.2 P<0.0001 $76.60 d 12.8 14 $77 12.03 c 11.4 $74.59 d % Treated 12 b a $73.34 10.5 10.3 c $75 Once Total Cost of 10 $71.92 b $73 Gain 8 % Treated 2 5.66 $71 $69.79 a 6 or More 4.35 3.28 $69 Times 4 2.48 2.08 $67 2 0 $65 Least 5th 4th 3rd 2nd Most Least 5th 4th 3rd 2nd Most abcdef Means with unlike superscripts differ, P<0.05 abcdef Means with unlike superscripts differ, P<0.05