Guelph, Ontario, September 19, 2019 –The Veal Farmers of Ontario (VFO) is pleased to announce that the Cost of Production (COP) tool, developed by the VFO and the Ontario Ministry of Agriculture, Food and Rural Affairs (OMAFRA), is now available on their websites.
The COP tool, created in an Excel format, will help producers calculate their annual costs and use them for planning. It has been designed to accommodate multiple production systems, including growing to finishing, starting with preconditioned calves, or a combination of both. The COP tool is a revision of the previous tool, last updated in 2008, and allows producers to input their own data.
“With the current and very real financial challenges veal producers are experiencing with prices and bringing veal cattle to market, the VFO Board of Directors identified updating the COP tool as a priority for our industry to help our producers,” said Jennifer Haley, Executive Director, VFO.
The update began in the fall of 2018. As part of the initiative, a focus group was convened to provide technical information on typical production practices used in the veal industry. A Working Committee was charged with guiding the project, and the VFO Board of Directors reviewed that the correct information was captured in the COP formula for veal, and that it accurately reflected production systems in place in Ontario.
The COP tool also identifies key risk factors for veal production and the range of possible outcomes, which can help in planning for ways to manage and mitigate them. The Ontario veal sector does not have COP data on file, which continues to be a challenge for the industry.
“Looking at costs in this tool will help farmers make sure they’re paying attention to all aspects of their operation when identifying areas for cost-savings and evaluating if the time is right for expansion opportunities,” explained Judy Dirksen, VFO Director and member of the Working Committee.
View the full release here.