Economic Analysis in Beef Feedlot Practice

Abstract

The process of converting biology, physiology, and pathology from medical to economic terms can be a complex undertaking. Many veterinary practitioners do this almost subconsciously without complex computer assistance. For these experienced veterinarians, decisions to treat or not to treat and with what drug are often made from the clinical presentation of the animal or animals and the expected outcome or result of various therapeutic options. Determination of the "true economic" cost of animal disease should be an integral component of feedlot animal health.

The problems to overcome when determining the true cost of disease in a feedlot situation are many. The veterinary practitioners must many times overcome the lack of records or records that do not allow for economic evaluation. Other obstacles are the determination of what to measure, quantifying subclinical or inapparent loss, variation from animal to animal or from load to load, and determination of industry standards or comparison factors. These problems coupled with the fact that often the diagnosis of disease is subjective in nature seem to make the precise quantification of disease loss impossible. While these problems are formidable, they are not insurmountable. Let us look at how each of these problems can be overcome and then at a specific situational application.