Calving date and wintering system effects on cow and calf performance II: Economic analysis

Data from a 4-yr study involving 217 cows/yr (3/4 Red Angus, 1/4 Simmental) were used to compare net returns among 5 cow/calf production systems: 1) March (Mar) calving cows wintered on native range, 2) Mar calving cows wintered on corn residue, 3) June (Jun) calving cows wintered on native range, 4) Jun calving cows wintered on corn residue, and 5) August (Aug) calving cows wintered on corn residue. Steers born in Mar entered the feedlot at weaning (November; calf-fed). Steers and heifers born in Jun and Aug were divided equally into 2 postweaning management treatments. Half entered the feedlot immediately after weaning (May, calf-fed) and the other half grazed subirrigated meadow and entered the feedlot as yearlings (September to October). Average USDA reported monthly prices for the yr 2007 to 2010 were used to value both inputs and outputs. Prices utilized were at time of purchase for feed ingredients and replacement cows and time of sale for cattle. Costs were not different (P = 0.81) among calving dates, but net returns were greatest (P < 0.001) for Jun calving cows and least for Mar calving cows because of differences in weaned calf value. Wintering cows on corn residue increased net returns for Jun calving cows but decreased them for Mar calving cows. Retaining ownership of calf-fed steers through finishing increased net returns compared with selling at weaning. Winter treatment did not affect (P > 0.21) calf feedlot performance. Steers generated greater (P < 0.01) net returns than heifers when ownership was retained. Net returns were greater (P < 0.02) for calf-fed compared with yearling cattle when purchased at weaning and sold on a marketing-grid basis. Purchasing and finishing yearlings was not profitable. Net returns vary by calving date, wintering system, ownership length, postweaning management system, and calf sex.