Leachman $Profit

Use $Profit to take aim at the right genetic target!

$PROFIT

TM

Are all small cows really efficient? There seems to be a big disconnect in today’s beef industry.

On sale day we want heavy, high quality steers to pay the bills. The rest of the time we want efficient cows to keep our costs as low as possible. Simply selecting for smaller cows with no regard for feed efficiency is not the answer.

Likewise, selecting for shear growth with disregard for cost is just as poor of a strategy. The best way to make your cowherd truly efficient, and your calf crop earn more, is to use Leachman $Profit™. This is the only index in the industry that works on both sides of the ledger (production AND cost). Cows that work! Steers that pay!

How $Profit works:

What traits are included in $Profit:

Our simulation model then factors in all of the effects on both income and expense to come up with a net profit figure for each bull. $Profit allows you to compare any two bulls and calculate the difference in profit that they are expected to generate in your herd. Let’s compare a $10,000 $Profit bull to $6,000 $Profit bull (the average 2008 born Angus bull). The predicted difference between the bulls is $4,000 or about $40 per calf. $Profit works for us and it will work for you too.

Some traits are not so easily characterized for $Profit. Milk, for example, is a good thing until you get too much. When over +25, milk EPD has a more negative effect on fertility than it has a positive effect on weaning weight. There are a few traits not yet included in $Profit: longevity, structure, and disposition.

These traits are important but difficult to express in dollars.

$Profit assumes that the average commercial bull will have 100 progeny over its lifetime. The model assumes that you keep 30% of your heifers as replacements and that you retain ownership on the remainder of the calves through finishing and sell on a grid. We realize that many don’t retain ownership, but doesn’t it make the most sense to select from birth all the way to slaughter?

Feedlots have already proven their willingness to pay premiums for superior Leachman sired calves.

$Profit includes nearly every trait that impacts profitability.

The effect of most traits on profit is fairly simple to understand.

Here is the list of what is included and its effect: Revenue Traits ▪▪ Calving ease = more calves ▪▪ Weaning and Yearling EPD = more weight ▪▪ Fertility (days to conception) = more weight and more calves ▪▪ Carcass weight = worth more up to 1050 lbs.

▪▪ Marbling = valued based on grid premiums ▪▪ Ribeye area = value as impacts yield grade ▪▪ % Retail Product = more yield is more meat Cost Traits ▪▪ Cow mature size = in general bigger eats more ▪▪ Cow intake = more intake costs more ▪▪ Feedlot feed efficiency = cost of gain

Star System Explained:

Accuracy: The sire’s level of accuracy is determined by the number of progeny that have been evaluated in the Leachman System.  Several progeny recorded, use with confidence (over 90% accurate).  Pedigree and individual data only (about 30% accurate).

Calving Ease: The predicted calving ease if you use the bull on heifers.  The easiest calving bulls in the industry.  Use on smaller heifers with minimal assistance needed.  Use on larger heifers with some assistance expected.

(If no stars are shown, the animal is recommended for use on cows only.)

Good Better Best

qqq qqqq qqqqq

Growth: A formula combines WW and YW to predict how much performance the sire will pass on to their progeny.  Most growth.

Maternal: An estimate of the maternal efficiency of the daughters this sire will produce. It includes cow size, milk, fertility and growth.  Keep these heifers! They will make the most profitable females in the business.

Feed/Carc: A formula that combines: gain, conversion, carcass weight and carcass merit to predict post weaning performance.  Maximum overall value in your feeder calves.

Disposition: An observation of the sire’s disposition.  You can walk up to and touch.  Average - respects flight zones and handles well, but is not a pet.  Nervous.

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Leachman financial indexes allow you to HAVE IT ALL! $Ranch: Profit from birth through weaning. Includes:

• •

Fertility, Milk, Growth Cow feed intake and mature size

$Feeder: Profit from weaning to harvest. Includes:

• • •

Feed conversion Carcass value Carcass weight

$ Indexes Explained: Good

Better

% Rank: Average Top 25% $Profit $7,204 $9,993 $Ranch $23 $36 $Feeder $57 $87

Best

Top 1% $16,829 $68 $158

$Profit: Puts it all together. $Ranch + $Feeder.

• One number that predicts your bottom line!

Feed:Gain: Difference in the amount of feed a

bull's progeny will consume to produce one pound of gain.

Example: A -0.50 F:G EPD means this animal's progeny will consume 1/2 pound less feed per pound of gain than would progeny of a 0.00 F:G EPD sire.

Feed Intake: Difference in feed consumption of

each of a bull's progeny in a 112 day feeding period.

Feed Efficiency Explained: Good

Better

% Rank: Average Top 25% Feed:Gain -0.01 -0.09 Intake 19 -5

Best Top 1% -0.30 -66

Example: A steer whose sire has a -100 Intake EPD will eat 100 pounds less feed in 112 days than one whose sire had a zero Intake EPD.

Across Breed Comparisons

Dare to compare: You cannot afford to make mistakes

in your breeding program! Choosing to use sires with incomplete or low value data can unknowingly make your herd less profitable – same work, same cost, poor results - unacceptable. Leachman ABC’s are the most reliable and comprehensive EPD’s in the industry. They are backed by a large (nearly a million), long-standing (over 30 years), multi-breed (over 15 breeds) database. Using this system assures you of making sound breeding decisions with minimal risk of failure.

On the Ranch, In the Feedlot,

& On the Rail, $PROFIT™ simply works!

(970) 568-3983

Good

Better

Best

% Rank: Average Top 25% Top 1% BW 2.6 0.8 -3.5 WW 38 45 62 YW 65 77 106 Preference based on environment MILK SC 0.48 0.78 1.51 Preference based on environment HT MAT WT Preference based on environment REA 0.36 0.51 0.90 IMF 0.22 0.40 0.82 CAR WT 818 856 886 BF -0.01 0.00 0.03 Page 2

Top breeders using $Profit Share! “$Profit… is the most sustainable index which reflects profitability from conception to consumer”

~ Rob Thomas, Thomas Angus, Baker City, OR Angus

“$Profit works. It takes a multitude of numbers and so much info… and simplifies them into one or two numbers. When helping customers, it is less confusing. It is so easy to talk about when you believe in it.” ~ Bill Slovek, Slovek Ranch, Phillip, SD Angus Composites & Hybrids

“$Profit is ten times better than any other index for my Red Angus. My high $Profit genetics top our sale”

~ Neil Hueftle, Hueftle Red Angus, Cozad, NE Red Angus & Hybrids

“Coming out of the swine business, our interest in $Profit was that we found it more advantageous using indices and just 1 or 2 numbers to guide our herd’s breeding decisions” ~ Brian Dunn, Sandy Knoll Farms, St. Johns, KS Gelbvieh & Balancer

“I find $Profit the best index in the industry to describe our cattle for all birth to feedlot traits to assist our customers.”

~ Ryan Ludvigson, Ludvigson Stock Farm Billings, MT, Red Angus & Hybrids

“We made a large investment to measure feed efficiency; however, we needed a place to genetically evaluate this new mountain of information for our Angus, Red Angus & SimAngus cattle. The $Profit Team is doing an amazing job of providing us with accurate EPDs that are comparable across all of our breeds plus EPDs for new traits like feed efficiency and Profit. I have confidence in the team of geneticists at the University of Guelph, Canadian Dairy Network, and BIO in Ontario, Canada. They use sound-science with $Profit to provide this accurate, third-party, genetic evaluation.

Getting our data evaluated by the $Profit team is like getting a second opinion on a major business decision or medical procedure. I consider it one of the smartest business decisions we have made to help us identify and multiply genetics that enhance our customer’s profitability and sustainability in the cattle business.” ~ Donnell Brown, R A Brown Ranch, Throckmorton, TX Angus, Red Angus, Simmental & Hybrids Page 3

Lee Leachman answers FAQ’s about $Profit WHAT IS $PROFIT? $Profit tells you which bulls’ calves make you the most profit, from birth to slaughter if you retain ownership and keep replacements. It includes the cow traits, fertility, growth, carcass, and feed intake.

Isn’t that really what you want to know?

It’s for sure what you need to know. If you sell your calves at weaning, instead of retaining ownership, you can use our $Ranch.

WHAT DOES THE SINGLE NUMBER, $PROFIT, DO FOR ME? $Profit helps you compare what different bulls are worth so you can find the best bull to improve your herd. None of us are smart enough to look at 20+ EPDs and figure out which bull will help us the most. $Profit and $Ranch do that for you.

Why would anyone buy something for a business unless you know how much money it will generate in profit for the company? You don’t want to guess. You spend a lot on bulls. You want to buy a bull that will reduce your costs and increase your revenues.

The $Profit single number estimates what a bull’s 100 calves (4 years @ 25 calves per year) will generate in net profit compared to an industry average bull. $Ranch does the same thing from birth to weaning. Literally, we run partial budgets and look at how all of the genetic effects impact your bottom line.

New generation breeders using $Profit Share: Ryan Ludvigson, Donnell Brown, Seth Leachman, and Park Ludvigson.

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Here is how you can use it. Say the cost of the average industry bull this year is $4,500. That industry average bull has a $Profit of around $7,500. If you buy a $12,500 $Profit bull for the same price, then you are ahead $5000!

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HOW DOES $PROFIT DIFFER FROM OTHER MAJOR INDEXES? First, like most indexes, $Profit takes into consideration output and revenue, but we also include the cost side of the equation. Other indexes ignore the cost and just help you find the cattle with the highest output and revenue. Unfortunately, growth and output always have a cost. I don’t know of a single index that directly includes cow feed intake in the equation like we do.

Years ago, farmers learned that you couldn’t just chase more and more output, but that you had to control the inputs and costs. The important goal is more net income or profit, not maximized revenue. Our index helps us and helps our customers raise cattle that cost less… and produce more profit.

Second, $Profit recognizes that many traits have ideal levels – more and more or less and less is not what you want. Seedstock breeders like to chase big numbers because it helps them sell cattle. However, our program knows you make more profit when you are at optimum levels for traits like birth weight, milk, and cow size. As an example, more milk is good up to a point. However, too much milk hurts your fertility. Almost all traits are like that. Other industry indexes are linear, and do not find the optimums. Instead they often encourage breeders to chase maximums.

Third, our $Profit takes into account hybrid vigor because our customers want and need to crossbreed. Fertility and longevity are huge drivers of cow herd profitability. Many herds are struggling with fertility because they have become too straight bred. A crossbred cow breeds up sooner, is open less often, and lives longer. Crossbreeding can increase pounds weaned per cow exposed by 23% and that drives profit. Our index includes the economics of heterosis.

HOW GOOD IS THE DATA BEHIND $PROFIT? We have the largest breeder owned data base in the industry with over 750,000 records. Plus, our data is all from top notch, “professional breeders.” We almost always receive complete, whole herd reporting data. Other systems contain data that is partially reported or substantially unreported. Plus, many herds do a very poor job at establishing contemporary groups. If we see problems, we work hard to correct or remove them from the database. Poor and partial reporting makes for biased data and inaccurate EPD’s.

Our own cooperators reported over 9,000 calves in the last year. These calves all come from structured, mostly AI, matings with reference sires and breeds so that all animals, breeds, and producers can be compared. It is like a huge, structured progeny test. This data is heavily AI driven. It also contains thousands of breed comparisons as we use purebred, hybrid, and composite bulls from each of our breeds. Clay Center compares 200 animals of each breed against one another in a single environment with limited use of proven AI sires to derive their breed differences. We compare thousands of animals of each breed and we have heavy use of proven sires in hundreds of different environments.

We believe that we have the most accurate across breed comparisons available in the industry.

Finally, we do more feedlot and harvest verification than any other seed stock program. We have a number of commercial test herds that breed AI so that we can feed and harvest the progeny. We feed large sire groups to confirm that our feed efficiency EPD’s accurately predict the performance in the feedlot and on the rail. We also collect carcass data to make sure that our ultrasound based predictions are accurate. In all, we harvest several thousand sire identified carcasses per year. We also collect conversion, gain, and carcass weight on over eight thousand Leachman sired calves from customer herds each year.

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HOW GOOD IS THE $PROFIT SYSTEM? If there was a better index than $Profit, we would use it! Each year, we have new seed stock herds that sign up to use $Profit. When we run their herd, they are shocked – shocked by how well we find the best cattle and shocked by the number of bulls they are using that will not improve their herds. Inevitably, $Profit helps them make more rapid genetic improvement and that is why they join our system.

I tell people that all indexes run the risk of quickly taking you to the scene of the accident. That is to say, a bad index quickly creates unexpected and unwanted consequences. Pig producers made pigs too lean.

Dairy producers made dairy cows too infertile. As further examples, selection for Angus’ $Beef has produced some very large, inefficient cows in the Angus breed.

Selection for Simmental’s API likes some cattle that are not competitive on growth and ribeye area. Ultimately, associations are reluctant to tweak and improve their indexes because breeders have vested interests to keep promoting their high-ranking genetics. We don’t care about any of that – we just want to get the right answer as quickly as possible.

Most indexes are designed by scientists who have very little practical experience raising and breeding cattle. Further, the designers of the indexes have no real-world feedback system to see what is happening with the cattle. Our system is driven by master breeders. I eat, sleep, and drink $Profit making sure that it is working properly. Plus, we have dozens of cooperators and master breeders watching the results to make sure that $Profit is taking us in the right direction.

We use $Profit for all our breeding decisions. We cannot afford to use a breed or sire that has low $Profit.

In our continuous quest for outlier bulls and cows to bring in from the industry, we convert their data into $Profit before we decide to buy or use a bull or female. We use $Profit to select our replacement females and to help make cow culling decisions. You can use $Profit to share in our genetic progress!

$PROFIT SEEMS TO BE GOING UP AND UP. IS THAT REAL AND WILL IT CONTINUE? We are making more rapid genetic progress than nearly any other program in the industry. We know this because we actively compare ourselves. Each year, our cooperators keep the highest heifers as replacements and AI to the highest bulls. So long as we can continue to find higher and higher sires, this trend will continue.

There is no doubt that the genetic change is real.

Our cows are getting smaller. Our weaning weights are going up. Our feedlot conversion is improving.

Our cattle max out the carcass weight range. Plus, they have increasingly high percentages of upper 2/3 choice and prime.

Our future depends on $Profit. It is adding profit to our herd and to our customers’ herds. You don’t have to guess whether or not we believe in $Profit – just watch the bulls we use and you will know where we are placing our bets!

(970) 568-3983

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Our cattle set high standards!

Our herd is efficient, high grading, and high yielding – but the cows still produce on extensive Wyoming, native range land. Our cull yearling heifers were finished at Lincoln County and sold on the rail. They have the flexibility to optimize heavier carcass weights and premium quality grades without excessive yield grade 4’s and 5’s. ~ Mike Healy L U Ranch Worland, WY

2016 Cull Heifer Feeding Results 61 cull heifers 136 days on feed

Performance: ADG 4.95 / day Final weight 1515 lbs.

Carcass weight 960 lbs.

Quality: 97% Choice or higher 57% Premium Choice or better Efficiency: Converted at 5.64 to 1 Cost of gain (all in) of $0.66

They set the bar VERY high!

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“We’ve built a herd with one of the nation’s highest net $Profits – from cow/calf through slaughter” ~ Mike Healy

L U Ranch Company Worland, WY

By changing their bulls from $8,400 $Profit to $10,600 $Profit, the L U Ranch dramatically changed performance of their 675+ steers at the Decatur County Feed Yard: More Gain

2008 Steers 2012 Steers

lbs/day

Less Feed

lbs/hd/day

Better Conversion

More Ribeye

More Marbling

feed:gain

sq inches

% Prem. CH

3.6 3.8

19.8 18.4

5.4 4.9

12.5 13.4

26% 49%

More Carcass Wt ADVANTAGE lbs

816 862

$ / hd

$122

In just four years, these calves improved by $122 per head! (assuming constant feed costs and the same market prices)

(970) 568-3983

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Every cow and calf is paired out.

The IX Ranch is a large, multi-generational, commercial, cow/ calf operation located southeast of Big Sandy, MT. The Roth family has managed the ranch for three generations. They are precise managers of their land, people, and cattle. The ranches goals revolve around preservation of their natural resources and superior economic returns. They know that they cannot manage what they do not measure!

Each year, the ranch works with Dr. Stan Bevers, an economist from Texas A&M, to evaluate benchmarks on key performance indicators that drive ranch profitability. Through their extensive records, they are able to closely monitor the production success of the ranch. The ranch is divided up into east and west divisions overseen by long-time managers, Rusty Sparks and Todd Amsbaugh. The ranch also relies heavily on annual internship employees.

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“Our goal is to be a low cost producer.

In 2007, Lee recommended that we buy Stabilizer bulls selected for high $Ranch.

It’s working.”

Rich Roth

~ Rich Roth, Vice President IX Ranch Big Sandy, MT

Results from using hundreds of Leachman bulls: ● Weaned calf crop percentage up 6%! ● Pounds weaned per cow exposed up 12%! ● Cow size down.

One of 250 Leachman $Profit Stabilizers in use at the IX.

IX Ranch Pounds Weaned per Cow Exposed

500 490 480 470 460 450 440 430 420 410

400 2008

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2010

2012

2014

2016

2018

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Stabilisers are Making their Mark in the U.K. In 2016, Richard Fuller was honored by the Royal Agricultural Society of England with the annual Technology Medal in Agriculture for his development of composite breeding techniques and for advancing the importance of selecting animals for improved feed efficiency in the UK.

“The advantages of Leachman’s composite genetics and technology prove to be ‘very heritable’ in the British Isles….”

Richard Fuller

I first met Lee Leachman in the UK at the British Cattle Breeder’s Association conference at Cambridge in 1995 and again in 1996 at the British Grassland Society Conference.

My colleagues and I visited the Leachman Cattle Co home ranch, Billings, MT in April 1997. We returned in August to visit the large Tessari Stabilizer foundation herd at Babb, MT (see picture on left taken by Richard in 1997). Donor cows were selected to supply us with 100 exportable embryos.

Beef Improvement Group Ltd (BIG) was formed in 1998 and a franchise agreement with Leachman was signed entitling BIG sole rights to the Sabiliser trademark and intellectual property in the EU. These were defining occasions in our quest to develop more profitable beef production systems. All the cattle pictured are derived from the embyros and semen imported from Leachman.

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Current Status: • The Stabiliser breed and the Stabiliser Cattle Co. are officially recognized as pedigree eligible by the UK Government.

• In 2014, BIG secured a £1.2M government grant to fund a 5-year feed intake project using Grow Safe technology to measure feed efficiency.

• In 2015, BIG entered a marketing partnership agreement with Morrisons PLC (one of 5 big supermarkets in UK) to market Stabiliser beef • By 2016, 52,000 Stabiliser cows had been recorded in the UK national data base.

• In 2016, BIG agreed to provide Stabilisers to a large co-operative of 1500 beef producers in France.

• In 2017, BIG merged their data into the LCoC database and signed up for LCoC $Profit Share

Current Statistics • • • • •

93 Nucleus Multiplier breeders 10,000 pedigree recorded cows 500+ customers using Stabiliser genetics 8000+ doses of semen sold last year 300 LCoC embryos imported per year.

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U. S. Beef Industry Comparisons of Indexes

Adapted from the 2017 Beef Improvement Association Proceedings, page 81.

Table 1: Traits included in Terminal Index based on published indices. Terminal – Feedlot and/or Carcass/No Replacements Trait Index CED BW WW YW Intake PWG CW Quality Yield Retail Grade Grade Yield Angus $Feedlot X X X $Grid X Xj Xo,p $Beef X X X X Xj Xo,p Beefmaster Terminal X X Xk Xp Charolais Terminal Sire X X X X Xj Xo,p Gelbvieh FPI X X X X X Xj Xm EPI X X X Hereford Certified Hereford Beef X X X X X Xk Xo,p Limousin Mainstream Terminal X X X Xj Xo,p Red Angus GridMaster X X Xj Xo,p Simmental Terminal X X X X Xj Xm Shorthorn Feedlot X X X X Xj Xo,p Industry Indices Method QPI X X Xj Xp X Leachman $Feeder X X X Xj Xp CED = Calving Ease Direct, BW = Birth Weight, WW = Weaning Weight Direct, YW = Yearling Weight, PWG = Post-weaning Gain (see below), FE = CW = Hot Carcass Weight, Quality = Carcass Quality (see below) Yield = Carcass Yield (see below), Yield Grade = Carcass Yield Prem/Disc Quality = Marblingj, Intramuscular Fatk Yield = Yield Gradem, Fato, Ribeye Areap Retail Yield = estimates the value of the percentage of cuts that go into the retail meat case.

Table 2: Traits included in Weaning/Replacement Index based on published indices. Feeder – Replacements/No Feedlot/No Carcass Trait Index

CED BW CEM WW

YW

Milk HP

SC

Mat

Cow Feed Cost

Angus $Wean X X X X X Beefmaster Maternal X X X X Shorthorn $CEZ X X Industry Method MPI X X X X X X Leachman $Ranch X X X X X X X CED = Calving Ease Direct, BW = Birth Weight, CEM = Calving Ease Maternal, WW = Weaning Weight Direct, YW = Yearling Weight, Milk = Weaning Weight Maternal, HP = Heifer Pregnancy, SC = Scrotal Circumference SC = Scrotal Circumference, Cow Feed Cost = expected daily feed intake to calculate cost per day Page 13

Table 3: Traits included in All Purpose Index based on published indices. All Purpose – Replacement/Feedlot/Carcass Trait Mat Cow Cow Feed Index CED CEM WW Milk Fert PWG FE Size Cost Gelbvieh X X X $Cow X X X X Xh Xa,b Hereford 1 X X X X X Baldy Maternal Xc Xg 1 X X X X Calving Ease Xc 1 c X X X X Brahman Influence X Red Angus HerdBuilder X X X X X Xa,b Xg Simmental All Purpose X X X X X Xa Xh Shorthorn $BMI X X X X Xg Industry Indices Method ROI X X X X Xb Xh Leachman $Profit

X

X

X

X

Xd

Xg

X

X

X

Carc Weight

Method Quality Assump- Formula Grade tions Xj

historical

linear

X X X

Xk

historical

linear

historical

linear

Xk

historical

linear

X

Xj

historical

linear

X

Xj

historical

linear

X

Xj

historical

linear

X

Xj

3 yr history

linear

X

Xj

Xk

Forecast simulate / nonlinear

CED = Calving Ease Direct, CEM = Calving Ease Maternal, WW = Weaning Weight Direct, Milk = Weaning Weight Maternal Fert = Fertility (see below), PWG = Post-weaning Gain (see below), FE = Feedlot Feed Efficiency, Mat = Mature Cow Size CW = Hot Carcass Weight, Qual = Carcass Quality (see below), Yield = Carcass Yield grade (see below) Fertility = Stayabilitya Fertility = Stayabilitya, Heifer Pregnancyb, Scrotal Circumferencec, Days to Conceptiond Post Weaning Gain = Yearling Weightg, Feedlot Gainh j k Quality = Marbling , Intramuscular Fat Yield = Yield Gradem, Fato, Ribeye Areap Retail Yield = estimates the value of the percentage of cuts that go into the retail meat case.

1 Dry Matter Intake, Sustained Cow Fertility and Heifer Calving Rate will be included starting summer 2017

(970) 568-3983

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We Offer Semen from over 90 herd sires!

All evaluated for our industry-leading financial indexes. $Ranch: Profit from breeding through weaning. • $Feeder: Profit from weaning through harvest. $Ranch + $Feeder = $PROFIT • One number that predicts your bottom line!

We Have Elite Angus!

Visionary

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We Have Elite

One of the most profitable bulls for 2018!

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Red Angus!

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RAAA#: 1652360

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$19,934 $Profit One of the most unique sires in the AR breed.

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Great all-purpose AR leader • Top 1% $Profit High carcass and maternal values.

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Trinity

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ASA#: 2389750

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Doc

Top Red SM prospect • Significantly add hybrid vigor and muscle to AR/AN cows.

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Stabilizers!

Decree

$21,327 $Profit

Must use sire for retained ownership programs.

Higher $Feeder than most terminal sires & you can keep the daughters!

Build a high $Ranch Red cow herd with Decree... even at altitude. • Optimum Heterosis Bred in longevity and soundness.

$23,832 $Profit 1% $Ranch • 2% $Feeder • 1% YW 1% REA • 1% IMF • 1% Feed:Gain 1% $Profit – #1 index to predict your bottom line!

Call Your Area Rep or (970) 444-BULL to Order Semen Today!

Sires for every need · Prices for every budget Request a Herd Sire Directory at www.leachman.com (970) 568-3983

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