# Cow-calf profit per head in Missouri

> Missouri cow-calf operators averaged roughly $165 in net cash income per cow in 2024, with total economic profit near break-even once unpaid labor and pasture opportunity costs are charged against strong calf prices.

**Headline:** $165 net cash income per cow

## Key Figures

| Metric | Value |
| --- | --- |
| Gross revenue per cow | $1,150 |
| Cash costs per cow | $985 |
| Non-cash costs (labor, depreciation, land) | $430 |
| Net cash income per cow | $165 |
| Total economic profit per cow | -$265 |

## Detail

Missouri is the second-largest cow-calf state in the U.S. with roughly 1.9 million beef cows, trailing only Texas. University of Missouri Extension's 2024 spring-calving budget (G2090) pegs gross revenue near $1,150 per cow assuming an 85% weaning rate, a 550 lb weaning weight, and a calf price around $2.45/lb at fall sale. Strong 2024 feeder calf prices, the highest nominal levels on record, have lifted gross returns well above the five-year average.

Cash costs in the MU budget run about $985 per cow, dominated by hay and harvested forage ($280), pasture ($190), supplemental feed and minerals ($95), veterinary and breeding ($75), and fuel, repairs, and interest on operating capital. That leaves net cash income near $165 per cow for 2024 - a notable improvement over the thin or negative margins of 2020-2022, and consistent with USDA ERS Commodity Costs and Returns estimates for the Prairie Gateway and Eastern Uplands regions that include Missouri.

Once non-cash charges for unpaid operator labor, machinery depreciation, and the opportunity cost of owned pasture land are layered in - roughly $430 per cow in the MU budget - total economic profit swings to about -$265 per cow. In other words, Missouri herds are cash-positive in 2024 but still not fully covering the implicit cost of family labor and land, a pattern USDA ERS has documented for the national cow-calf enterprise in most years since 1996.

Missouri's cost structure is shaped by its tall fescue base: cheap grazed forage keeps feed bills below Northern Plains operations, but endophyte toxicosis trims weaning weights by 30-50 lb and hurts rebreeding, a drag the Missouri Cattlemen's Association estimates at around $160 million statewide per year. Producers who interseed legumes, dilute toxic fescue, or move calving to match forage growth typically capture an extra $50-$100 per cow versus the state average.

## Frequently Asked Questions

### Why is Missouri a leading cow-calf state?

Missouri ranks #2 nationally in beef cow inventory behind Texas, with abundant tall fescue pasture, moderate winters, and low land costs that favor spring-calving herds.

### What weaning percentage should Missouri ranchers budget?

University of Missouri Extension budgets assume an 85% weaning rate and a 550 lb average weaning weight for spring-born calves sold in the fall.

### How do fescue toxicosis losses affect MO profitability?

Endophyte-infected tall fescue reduces weaning weights by 30-50 lb per calf and lowers conception rates, costing Missouri producers an estimated $160 million annually.

## Sources

1. USDA ERS Commodity Costs and Returns, Cow-Calf (2024) — https://www.ers.usda.gov/data-products/commodity-costs-and-returns/
2. University of Missouri Extension Beef Cow-Calf Budget (G2090) (2024) — https://extension.missouri.edu/publications/g2090
3. Missouri Cattlemen's Association Industry Statistics (2024) — https://www.mocattle.org/

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Source: Vellum — https://vellum.app/cow-calf-profit-per-head/missouri