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MANAGING FOR TODAY'S CATTLE MARKET AND BEYOND is a well-planned collection of 36 outstanding papers, produced by 29 authors from 16 states. The project was conceived by the Western Extension Marketing Committee for extension and classroom audiences. Direct dollar contributors to this project were USDA-CSREES, Farm Foundation, University of Wyoming, Utah State University and University of Nebraska. The project was also supported by the Livestock Marketing Information Center, National Beef Cattlemen's Association, the respective authors and the state Cooperative Extension Services of their institutions. Chris Bastian (University of Wyoming) and DeeVon Bailey (Utah State University) are highly commended for their outstanding leadership in bringing this project from conception to completion in a timely manner.

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Table of Contents

I. INTRODUCTION

II. INTEGRATED MANAGEMENT

A. Analyzing Your Operation

1. Integrated Management and Setting Goals
2. Assessing the Economic Status of Your Beef Cow Herd
3. Determine Your Unit Costs of Producing a Hundred Weight of Calf
4. Conducting a Comparative Analysis of Your Herd's Production Facts with other Herds' Production Facts
5. Conducting a Comparative Analysis of Your Herd's Economic Facts with Other Herds' Economic Facts
6. Understanding Your Financial Situation
7. Applying the Assessment Tools to Your Farm/Ranch

B. Management Strategies Aimed at Reducing Costs

1. Managing Cow-Calf Production Costs: What to do Before the Money Runs Out
2. Managing Your Herd's Composition
3. The Costs of Raising Replacement Heifers and the Value of a Purchased Versus Raised Replacement
4. Leasing Arrangements for Cattle

C. Financial Management

1. Working with Your Lender in Times of Financial Stress
2. Should I Sell My Cow Herd?
3. Farm/Ranch Information Systems

III. MARKETING

A. Value Added/Merchandising Strategies

1. Retained Ownership of Cattle: Factors to Consider
2. Retained Ownership in Cattle Cycles
3. Cooperative in Cattle Marketing
4. Replacement Heifer Sales
5. Preconditioning Calves for Feedlots
6. Feeding and Marketing Cull Cows

B. Price Risk Management

1. Marketing Alternatives that can be Considered in Your Business Plan Today
2. Comparing Your Marketing Opportunities
3. Futures Market - Basic
4. Commodity Options as Price Risk Insurance for Cattlemen
5. Evaluating Forward Prices with Basics
6. Market Plan

IV. IMPLEMENTING A STRATEGY

1. IRM Learning Teams
2. Things to Think About When Trying Something New in Your Operation

V. THE CATTLE MARKET ENVIRONMENT

1. Price Determination Versus Price Discovery
2. The Changing Consumer and the Demand for Meats
3. The Cattle Cycle
4. Structural Changes in Cattle Feeding and Meat Packing
5. Packer Concentration and Captive Supplies
6. International Beef and Cattle Trade

VI. BEEF INDUSTRY'S FUTURE

1. Beef Industry Challenges and Opportunities
2. Today's Changing Meat Industry: Implications for Tomorrow's Beef Sector

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