Day II: Marketing & Economics
Marketing Day is basically the payday of the ranch operation. Participants will be given helpful tips on managing ranches and marketing not only livestock, but natural resources as well.
Participants start off with education in establishing economic baselines and how to develop analysis of cow calf operations that will fulfill the owner's objectives. Participants will gain insight on ranch budgets, goal setting, and other aspects of planning and managing for profit.
From the auction block to getting cattle marketed for highest value, participants will have a chance to go through the auction process. Buying and selling slaughter cattle on the value based grids, youth will learn about quality and yield grades, dressing percent, and what type of cattle should be sold on a formula basis.
Finding the right niche market or conventional means is important and participants will gain insight from producers and industry on strategies and marketing tools. Catering to the customers and how to form direct sales of products will also be addressed. Day two wraps-up with evening discussion and work on Ranch Management Plans.