Veal Farmers of Ontario (VFO) and the Ontario Ministry of Agriculture, Food and Rural Affairs (OMAFRA), have developed a Cost of Production (COP) tool to help producers calculate their annual costs and use them for planning.
The COP tool was designed to accommodate multiple production systems, including growing to finishing, starting with preconditioned calves, or a combination of both. It is a revision of the previous tool, last updated in 2008.
As the Ontario veal sector continues to evolve, tools and resources that help producers determine their COP will be extremely useful for current veal producers and new entrants looking to improve business management and profitability, and better evaluate expansion and start-up opportunities.
For more information about how to use the tool, see this article by John Molenhuis, OMAFRA Business Analysis and Cost of Production Specialist, from the Summer 2019 issue of The Connection.