Don’t let feed purchase decisions trip you up during these times of challenging feed prices. Use the following advice from Bob James, Virginia Tech Extension dairy nutrition scientist, to make better long-term decisions.
- Monitor market trends. Subscribe to information services that provide timely, brief reports on market trends to help you become an informed negotiator.
- Develop relationships with several feed suppliers. Use competition to your advantage. However, loyalty to good service and reasonable pricing will encourage a good supplier to stick with you when times are tough. Good suppliers are those who relay market trends to you in a timely fashion and help you manage feed cost.
- Evaluate ingredient relevance. What is the ingredient cost and what does it provide to the ration? What are the benefits of continued inclusion in the ration? Will you take an economic loss if the ingredient is removed from the ration?