Determining the profitablity of multiple species livestock enterprise budgets within West Texas
For several decades, multiple species stocking has been accepted as an effective and efficient practice in the ranching industry of west Texas. Benefits include exploitation of multiple markets, flexibility to adjust to those markets, maximum utilization of forage diversity, and sustained productive health of the improved pasture. This investigation was designed to assess the potential profit represented in different combinations, while accounting for extensive variability through the analysis of a series of enterprise budgets. Results indicate that a multiple species cow-calf and commercial range sheep combination enterprise generates the highest profitability. Sensitivity analysis was also conducted to show how volatile an enterprise can be to market fluctuations both low and high.