Everyone’s reveling these days in the record feeder and bred-heifer prices, and healthy bull sale averages. And it’s understandable that we should feel pretty good about life at this time

Troy Marshall 2, BEEF Contributing Editor

February 25, 2011

2 Min Read
Pat Your Back, But Don’t Get Comfortable

Everyone’s reveling these days in the record feeder and bred-heifer prices, and healthy bull sale averages. And it’s understandable that we should feel pretty good about life at this time.

But one of the folks I consider to be a true marketing machine said something to me today that I found interesting. His point was that while the next several years look to be outstanding from a beef-industry perspective, those who are benefitting are those who have survived some pretty tough times. His logic was that these operators were good in the bad times, so they could be great in the good times.

Sometimes in a commodity business we lose that perspective and somehow feel that the times like we will face in the coming 3-4 years are something akin to just good fortune. Certainly, we all can tell stories about the guy who made $300/head the first time he fed cattle or $600/round on his first try at speculating on bred heifers. But, for the most part, those who are enjoying the record prices of today are those who had the fortitude or wherewithal to survive in some considerably leaner times.

For the most part, those reaping the benefits today paid a price to get here. And as many of you can testify, that price was pretty steep at times.

My friend then followed up with some cautionary advice. He said that when times are good, as they are today, that’s when we’re most vulnerable. That’s because there’s a tendency to coast and not make the necessary investments in the future. I think the analogy he used was that there’s a tendency to read and believe one’s own press clippings.

So while we can be glad about what seems to lie ahead in the short term, be sure to maintain your long-term vision. The good times won’t last forever.

About the Author(s)

Troy Marshall 2

BEEF Contributing Editor

Troy Marshall is a multi-generational rancher who grew up in Wheatland, WY, and obtained an Equine Science/Animal Science degree from Colorado State University where he competed on both the livestock and World Champion Horse Judging teams. Following college, he worked as a market analyst for Cattle-Fax covering different regions of the country. Troy also worked as director of commercial marketing for two breed associations; these positions were some of the first to provide direct links tying breed associations to the commercial cow-calf industry.

A visionary with a great grasp for all segments of the industry, Troy is a regular opinion contributor to BEEF Cow-Calf Weekly. His columns are widely reprinted and provide in-depth reporting and commentary from the perspective of a producer who truly understands the economics and challenges of the different industry segments. He is also a partner/owner in Allied Genetic Resources, a company created to change the definition of customer service provided by the seedstock industry. Troy and his wife Lorna have three children. 

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