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Exam 1 sample - Name_Kelsey Manning AnS 426 Exam 1 of 2...

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Name:__Kelsey Manning__ AnS 426 Exam 1 of 2 Spring, 2005 Industry Overview 1. Growth in the industry occurred at a rapid trend in the 1900’ s. a. This changed about when? b. What happened then and why did this change at that point? c. Explain the trends in the industry since 1990. 2. How would the profitability of US cattle production in the last few years be best characterized? 3. Explain why the beef industry is often described as “segmented”? 4. Are Canada and Japan a major trading partner of beef with the US at this point? Explain the situation with each. a. Regarding Canada, . . . b. Regarding Japan . . . . 1
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5. The “ten year cattle cycle” has been altered a bit lately (meaning in the last 3 or 4 years. a. How so? b. Caused by what? 6. The “failed price system” referenced by Dr. Purcell in your readings has led to some fundamental changes in the way that beef is valued today. a. First, what does he mean by “failed”? Be specific to his point – it has failed to do what? b. How and why would the failed price system affect consumption? c. In response to this failure, what has occurred in the last 10 years or less in the marketing of beef? 7. Where is the epicenter of the feedlot industry in the US? Why there? 8. What are market cattle selling for nowadays on a live basis per cwt? Mission, Planning, SPA 9. Note two elements of an effective MISSION statement that we described in class ( note – not a GOAL, but a Mission Statement). 2
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10. Why should a beef enterprise have a mission statement and use it? 11. a. What is the primary benefit of SPA programming efforts to an individual cattle producer (do not use the concept profitability in your answer)? b.
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Exam 1 sample - Name_Kelsey Manning AnS 426 Exam 1 of 2...

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