Slide 1: Welcome to our online training for our bi-monthly billing.

Slide 2: Here is a look at our bill. Bill close is the 15th of the month and the last day of the month.

The billing period is noted on each bill. We will discuss in detail the four sections of the bill that

you see here. 1) General Lot information 2) Costs and averages broken out by period & YTD

3) Commodity Credits and 4) Owner Information which is actually the summary of your monthly bill

charges.

Slide 3: Our basic lot information includes the date that your animals arrived along with the average pay weight. On your first bills, the Purchase Price/CWT will be populated. A month after the initial purchase, an estimated weight and ADG is then populated. The days on feed is 57. There is then a section on head days, both for the period (780) and to date is 3042. The pen status shows how many animals came in, how many have died or been sold, and then how many are still being fed. You will want to make sure our numbers match yours!

Slide 4: In the unfortunate event an animal dies at our location, you will get this form as well as a death notification, an autopsy report filled out by a Vet, and a record of all treatments performed on your animal. Our intention is to send this information to you at the close of the bill cycle in which the death happens. I want to mention that the weight on these reports is not an accurate weight for the dead animal. It may be the last weight taken or an estimated weight.

Slide 5: The next section of the bill is costs and averages. Here we are looking at the charges for the current bill period. First you see the amount of feed your animals consumed – so 79492 was the amount, and then the system breaks it down to the pounds per head day. To compute it, we use the # of head days in the period divided by the total pounds consumed. Notice that the processing cost & Vet costs are divided by the # of head instead of head days so you need to take note of that. Our monthly Costs include a feed, yardage, processing, vet and miscellaneous costs. For the current month, there we not any processing costs but you can see there are vet costs. Processing is normally done in first bill cycle and then again 80 days before harvest. Also, please note that Vet costs are recorded on an individual basis but on this report, it’s tallied. Charges for deads are normally recorded under miscellaneous. Note that the period costs are $1924.30.

Slide 6: On this view we see it is the same as the last except this is looking at your costs on a YTD basis.

Slide 7: The commodity credits section of the bill shows inventory for grain that an owner either trucked to us or pre-paid for. We show here the pounds used for the period and the associated costs for those pounds. The yard costs is the price of the corn on the day the corn is delivered. The last column shows the amount of commodity, in this case yellow shelled corn, remains.

Slide 8: The owner information section would be better titled, billing summary. This section tells the owner account number as well as name. The owner percent confirms that this customer owns the cattle in this lot 100%. In the event that the customer is part owner, two invoices are generated for each owner’s percent. You then see the current period charges which was brought down from the costs and averages section. You may or may not see period interest on your bill. Interest is incurred if you finance either cattle or feed with us. You then see the amount of your invoice.

Slide 9: Just to clarify, as I mentioned the total feeding charge is taken from the costs & averages section, and then you subtract the owner costs in the commodity credit section which then equals the owner amount.

Slide 10: With your bill, you will also receive a statement. If you have multiple lots, the statement will show a summary of each of the lots and the charges for each. You then see an ending balance which would be the amount you owe. You can send a single check to cover all lots. The balance of the commodity credits also shows on this cover page.

That is the end of our billing training. Stormy Mulder handles our billing so if you have a question about your billing, you may call her at 712.625.2311.

Also, if you have a question that was not covered by our training and you would like an answer, please email me at and I will be happy to address the question for you.

Thank you for attending our training and I hope you will join us for additional trainings that we offer.