MichBeef - 1/29/2015 08:51
I think the key is not total cost but cost per unit of output. Weather its dollars per pound of calf weaned or dollars per pound of gain that means that high costs aren't always bad. If a guy has $400 into a 400 lb calf and his neighbor has $490 into a 500 lb calf the neighbor is truly the low cost producer - even though his total cost was higher
Very good answer. | 
low cost vs. high cost
