EPD EXAM 3 2026 STUDY GUIDE COMPLETE
COURSE CONCEPTS AND PRACTICE
QUESTIONS
◉ Dr. Purcell referenced the "failed price system" in your readings.
What does he mean by failed? What has it failed to do? What exactly
failed and why? Answer: he grading system failed to coordinate
pricing to reflect changes in consumer demand.It is important to
know that the author specifically blames an inept grading system for
the lack to coordinate pricing structures. The USDA itself is not to
blame, but the USDA grading system for beef.
◉ Where is the epicenter of the feedlot industry in the US? Why
there? Answer: Texas Nebraska Kansas, availability of corn feed
products
◉ Why is the industry seasonal? Answer: the pastures become
available in May and wean in Aug and arrive in the feedlots in the fall
◉ Why is the industry less vertically integrated than say the swine
or poultry industries? Answer: primarily because of the vast land
resources that beef production requires and the very relatively slow
cash flow.
,◉ What has happened to cattle numbers over the years and why the
changes both in trend and cycles? Answer: It is an industry
economic characteristic of the beef industry where numbers of beef
cattle are at a relative peak about every 10 years.
◉ What characteristics of raising beef support the viability of the
industry? Answer: utilize non-suitable land
use low quality roughages
minimal labor needs
low facility investment needed
environmentally friendly, nutrient recyclers
suited to part time farming
meat of choice (cost dependent)
favored life style for many producers
◉ Name the elements of an effective mission statement that we
described in class ( note - not a goal, but a mission Statement)
Answer: Who are we?
What do we do?
For whom do we do it?
Why do we do it?
"The Lazy Y Ranch will use its available resources to maximize
continuing net profit, while conserving and improving those
, resources by producing feeder calves that meet feedlot demand
(Taylor, 94)."
◉ Why should a beef enterprise have a mission statement and use
it? Answer: it is a shared vision for the program and works toward a
goal to improve the operation
◉ What is the benefit of SPA programming efforts to a producer?
Answer: (specialized performance analysis) help cow-calf producers
reduce their cost of production and improve their production and
marketing efficiency.
tally of production, reproduction per cow
costs per resource unit used
Investment per cow, per acre, per cwt. sold
investment in forage, pasture production
forage production costs (per acre and per ton)
pasture, aftermath costs (per acre and AUM)
feed utilization per cow
◉ What is a benchmark and what are typical benchmark values for
performance traits in beef cattle; traits like birth weight, weaning
weight per cow exposed and so forth? Answer: a standard or point of
reference against which things may be compared or assessed.
compare answer with goal to see progress and gives you
benchmarks to see progress and allows you to make decisions.
COURSE CONCEPTS AND PRACTICE
QUESTIONS
◉ Dr. Purcell referenced the "failed price system" in your readings.
What does he mean by failed? What has it failed to do? What exactly
failed and why? Answer: he grading system failed to coordinate
pricing to reflect changes in consumer demand.It is important to
know that the author specifically blames an inept grading system for
the lack to coordinate pricing structures. The USDA itself is not to
blame, but the USDA grading system for beef.
◉ Where is the epicenter of the feedlot industry in the US? Why
there? Answer: Texas Nebraska Kansas, availability of corn feed
products
◉ Why is the industry seasonal? Answer: the pastures become
available in May and wean in Aug and arrive in the feedlots in the fall
◉ Why is the industry less vertically integrated than say the swine
or poultry industries? Answer: primarily because of the vast land
resources that beef production requires and the very relatively slow
cash flow.
,◉ What has happened to cattle numbers over the years and why the
changes both in trend and cycles? Answer: It is an industry
economic characteristic of the beef industry where numbers of beef
cattle are at a relative peak about every 10 years.
◉ What characteristics of raising beef support the viability of the
industry? Answer: utilize non-suitable land
use low quality roughages
minimal labor needs
low facility investment needed
environmentally friendly, nutrient recyclers
suited to part time farming
meat of choice (cost dependent)
favored life style for many producers
◉ Name the elements of an effective mission statement that we
described in class ( note - not a goal, but a mission Statement)
Answer: Who are we?
What do we do?
For whom do we do it?
Why do we do it?
"The Lazy Y Ranch will use its available resources to maximize
continuing net profit, while conserving and improving those
, resources by producing feeder calves that meet feedlot demand
(Taylor, 94)."
◉ Why should a beef enterprise have a mission statement and use
it? Answer: it is a shared vision for the program and works toward a
goal to improve the operation
◉ What is the benefit of SPA programming efforts to a producer?
Answer: (specialized performance analysis) help cow-calf producers
reduce their cost of production and improve their production and
marketing efficiency.
tally of production, reproduction per cow
costs per resource unit used
Investment per cow, per acre, per cwt. sold
investment in forage, pasture production
forage production costs (per acre and per ton)
pasture, aftermath costs (per acre and AUM)
feed utilization per cow
◉ What is a benchmark and what are typical benchmark values for
performance traits in beef cattle; traits like birth weight, weaning
weight per cow exposed and so forth? Answer: a standard or point of
reference against which things may be compared or assessed.
compare answer with goal to see progress and gives you
benchmarks to see progress and allows you to make decisions.
