How Leading Canadian Commercial Cow-Calf Producers Use Production And Financial Records: A Qualitative Analysis
Cattle ranching is an industry characterized by narrow margins and low rates of return. As a result, it is important to track performance and make necessary adjustments in order to achieve desired financial and productivity goals.
Record keeping enables ranchers to track many different areas of their ranch and monitor progress towards their goals. While record keeping is a recommended management practice there is no ‘one size fits’ all approach on which records to keep and how to use the records to make decisions and assess performance. Interviews conducted with fourteen leading commercial cow-calf ranchers across Canada showed that record-keeping helps inform decision-making and is closely related to the individual and business goals and values of each rancher.
Therefore, it is important for ranchers to first identify their goals and tailor record-keeping methods to effectively monitor progress toward those goals.
Key Words: record-keeping, benchmarking, goals, decision-making, cow-calf, interviews