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Time To Take Stock Of Your Business Says NFU

by 5m Editor
5 November 2007, at 11:12am

UK - The NFU is giving its livestock members the chance to improve their profits by taking part in a unique scheme that gives a fast and accurate picture of their business.

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"It won't cost a penny and could save hundreds of pounds. I would encourage all livestock farmers to take part."

NFU livestock board chairman Thomas Binns

Snapshot has been devised by Red Meat Industry Forum (RMIF) as a basic costing exercise that highlights where a farm is working efficiently. The free and confidential ten-minute questionnaire identifies areas that are performing well and where improvements can be made.

Students from the Royal Agriculture College will be phoning up NFU livestock members throughout November to complete the survey with questions about herd size, the price of feed, the number of stock born alive, weaned and sold and mortality rates.

The data will then be processed, analysed and returned to the member in an easy to read, easy to use format using a 'traffic light' system. An instant indication will be given as to which areas are performing well (green), around average (amber) or need attention (red).

It's hoped the project will encourage farmers to look at their business costs in more detail after new research found that savings of up to 15 per cent can be made by farmers who understand their own costs.

NFU livestock board chairman Thomas Binns said: "This is a great opportunity for livestock farmers. Getting a better margin on your livestock enterprise is always difficult but during these tough times it has never been more important.

"This service is being provided free of charge to NFU members, it won't cost a penny and could save hundreds of pounds. I would encourage all livestock farmers to take part".

5m Editor