Learning something new is easy

I’ve seen people try new things this week. Every time I turned around, there was a change.

My grandmother was trying to learn how to operate her new iPhone with the help of my daughter. The auction I attended yesterday allowed a young woman fresh out of auction school to try her hand at selling weight cows. I know there are female auctioneers out there, but this is the first time I’ve ever seen/heard of one. My daughter also started practicing with her new basketball team this week. The coaches there are teaching him a new style of play.

Being new to these things, there were some challenges. A few years ago when I taught my first sell/buy marketing school, I added time to the triangle of cattle, money and feed inventory. Things change over time. Some things need more time to change. After a while, my grandmother will use her phone better than me. That young auctioneer will get over his confusion and I’m sure he’ll do a great job with more practice soon. My daughter will learn new skills on the court and adapt to this new team.

Learning new things is the easy part. While there are challenges and questions along the learning curve, learning new things is the easy part. The hard part is letting go of the old way.

I’m so big on learning all about paradigms and thinking that my mentor once told me to build a new mental model that made my old model obsolete. It’s like our phones, they get updates. However, unlike our old phones, which won’t work anymore because the technology in them is so old, we’ll always have it in the back of our minds when we have a mental model. So sometimes we get stuck learning new things and try to do it in a new way, sometimes we fall back on an old pattern and use an old trick to keep us moving forward.

Some people will say something about all the years they have earned on the job. If we’re being brutally honest, they really have very little. Experience means a practical connection through an event. If time changes everything, and experience means coming into practical contact with an event, it shows that we must change. When some people say they have 40 years of experience, if we’re being honest with ourselves, they really only have two years of experience repeated 20 times every year.

Experience and action are not the same thing

One afternoon I struck up a conversation with a young farm wife and an elderly farmer. The young lady asked how many cattle we each have, how many cattle we have. My numbers were the highest and the young lady was surprised that I had more experience than the older farmer. The old farmer is someone I sometimes look to for advice. He has seen and endured a lot in his life and made some tough decisions that paid off.

I corrected the young farm wife who said not to confuse practice with activity. Now with so much activity, I’ll learn something along the way, that’s where the experience will come from, but it’s mostly just activity. We only show our expertise when we put into action what we have learned.

Today I’m going to try something new and discuss selling/buying marketing with registered cattle. First, let me define the difference between registered cattle and seed stock. Seed stock is the livestock that the industry needs. Registered cattle follow trends and display banners.

We follow these recorded cattle sales and are usually amazed at the inflated prices they bring. We will all discuss these prices. Why did the high seller go and what was the average sale? We never discuss the inflated costs of raising them.

Labor Day, I got to watch the registered cattle sale. This sale was not a runaway stall by any means, but the prices paid were much higher than what we see in commercial cattle.

After the sale was over, I started doing math. I ran my numbers as if I were managing a herd of 100 registered cows, and I did so routinely, hoping to sell more of them than I had. Based on sales averages, I followed this scenario, providing only part-time income. Although this sale made a lot of dollars, I wasn’t impressed because I could easily make the same part-time income with 100 head of commodity calves in the background.

I then compared the women’s Intrinsic Values ​​(IV) and Actual Values ​​(AV). The IV of these recorded dams was significantly lower than that of conventional commercial cows. This is due to all the additional costs of running a registered herd. There are registration fees and association fees. Added vet costs, extra labor and breeding costs for artificial insemination and embryo transfer.

When I compared the females IV and AV against each other, there were some good edges to capture. The comparisons I made were like selling a spring bred pair in the fall. Or a 5 year old spring breeding cow for a spring bred heifer.

I repeated the registered cow herd numbers, only this time I did the sell/buy marketing. I assumed we would market 100 head to 85 head. The balance was litters, I kept a few heifers and I’m a bit hard on bull calves, realizing that not all would be great calves and would be better off in the freezer. compared to breeding cows in the country. I also assumed that some of the 85 heads marketed would be females sold as mentioned in the previous paragraph.

Here’s the bottom line. I doubled my cash flow by converting these women and grabbing the edges there. Suddenly my fall female sale seems more interesting to me than my spring bull sale. This will also work in commercial cow-calf herds.

I’ll be at Husker Harvest Days all three days, talking about cattle marketing at 12:15 p.m. Come out and visit. According to the forecast, the weather will be perfect.

Cattle Market Review

This week, the nutrition market continues to send the signal that this is a weight gain business. Heifers maintained a more consistent Value of Earning across the spectrum.

In western Nebraska I have seen some fine black four-horse heifers selling for equal or higher prices than their steer brethren. If they weighed 300 or 500 pounds, there was still a significant lag. Elsewhere there was a $20-$30 refund.

Spring-born heifers were overpriced this week. The 10-year calculator paradigm is strong among many people. Mostly cows bred up to 5 years of age were sold above IV. Anything older than that is sold under its IV. All the pairs I sold were under IV. For those not crushed by the drought, there will be some good buys and some good trades.

NOTE: Going to Husker Harvest Days? You can catch Doug Ferguson live every day at 12:15 p.m. as he offers tips on how to put more money in your wallet with sales/purchase marketing. And every day is your chance to talk to him. Husker Harvest Days are Sept. 13-15 in Grand Island, Neb. is held nearby. Plan to attend.

The views of Doug Ferguson are not necessarily those of beefmagazine.com or Farm Progress.

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