A quick look at Standardized Performance Analysis figures backs up Redmon's statement. SPA is not new, though many producers have yet to adopt it as a production tool. Many producers might not like what SPA figures show. When opportunity costs are subtracted from the bottom line, profits drop and losses climb dramatically. Opportunity cost is what a farmer or rancher might be making if the money spent on hay, feed and other inputs were invested differently, in a certificate of deposit or the stock market, for examples.
People spend too much money on winter feeding programs.
Hay is very expensive. There are a number of ways to do this, some of them familiar with most producers, others not. Over-seeding bermuda grass pastures with rye, ryegrass or a mixture of the two is one way that's tried and true, but a production technique many producers still don't use. Using legumes such as crimson clover is another way to reduce inputs purchased off-farm. Though seeding clover can be expensive, it usually pays for itself in terms of the nitrogen it fixes in the soil.