One step to aid in feed cost management is tracking feed inventories. This simple step is a key component to better feed management decisions.
Feed inventory tracking is a simple data method that producers can utilize to track feed levels and manage long term goals, but some do not take the time to estimate feed inventories and track their levels throughout the year, note experts at Penn State University.
This practice takes many forms, from a simple notebook with initial quantities and regular feed out reductions, to spreadsheets tracking various feedstuffs, and can even go as far as specialized software and automated feed management software. Regardless of the method employed, calculated current weights of feeds in storage (volume of feed multiplied by density of stored feed) estimates the starting point that then can be used to estimate and plan the use of the feed.
There are various programs, online spreadsheets, and tools available to help you start estimated current inventories. For more details, check out the full article in the October issue of the Penn State Dairy Digest.
In a time of low harvest yields, volatile grain and feed price markets, knowing what is on hand, how long it will last, and the ability to plan for shortfalls is a critical component to your feed management decisions, says Robert Goodling, Penn State University extension educator.
Source: Penn State University