While economic efficiency measures focus on optimal use of inputs relative to the value of outputs in cow-calf operations, changes in output values or input costs can lead to improved returns due solely to changing market conditions while masking stagnant or even declining physical productivity. “It is important to remember it takes both to ensure that the operation is moving in the right direction,” said Derrell Peel, Oklahoma State University Cooperative Extension livestock marketing specialist. “The first step is to measure productivity and input use in a good record system. Then put those records to use.” – Drovers CatttleNetwork Read more…