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Calculate your cost of production to give a better picture of the financial health of your business
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Knowing your cost of production enables you to rate your annual performance and compare against industry standards |
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Key decisions, critical actions and benchmarks
Determine your cost of production
Because calculating cost of production is such an important step in analysing business performance, a specific set of tools is included with this module to make the job as easy as possible.
These include:
- Tool 1.6 – the MLA-developed cost of production calculator for lamb enterprises
- Tool 1.7 – the AWI-developed cost of production calculator for wool enterprises can help you work out your wool production costs to help determine the right time and price to market your wool. It is critical to know what it costs to produce a kilo of wool so you can decide when and how to sell your clip.
- Tool 1.8 – the MLA-developed cost of production calculator for beef enterprises (included in this module because it will allow sheep producers who also run some cattle to see how that enterprise is going).
- Tool 1.13 - Making More From Sheep cost of production calculator for sheep enterprises. This calculator is intended to be used for only one enterprise at a time, for example a specialist prime lamb flock. If you have a Merino wool flock and you join a percentage of the ewes to a terminal sire and the rest to Merino sires, break that flock into two enterprises:
- A dual purpose lamb flock that includes the ewes joined to a terminal sire
- A wool flock that includes those ewes joined to Merino sires, and all Merino wethers.
Note – printed copies of the MLA and AWI calculators are included in the tools section but they are more suited to electronic use.
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Attend
The MLA EDGEnetwork® program is coordinated nationally and has a range of workshops to assist sheep producers. Contact can be made via:
View
MLA, AWI and Making More From Sheep websites to download the cost of production calculators
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