B.FLT.7028-Update of Feedlot R&D evaluation model

Summary

Over the past year, RMCG and the MLA Feedlot team have updated and streamlined the Feedlot R&D evaluation model to align it with current market segments and production data for these market segments. This project will undertake further updates of the model to incorporate MLA evaluation framework requirements and make the model available in a format that is consistent with MLA’s M&E evaluation framework.

Objectives

• Provide a version of the Feedlot R&D evaluation model that incorporates changes requested by the MLA evaluation team and aligns with the format of MLA’s M&E evaluation framework.

• Incorporate an updated User’s Manual that accommodates changes to the model and data.

Key findings

An updated feedlot evaluation model was delivered to the MLA Feedlot Program. 

MLA will utilise the model internally to assist the project approval process, assess project applications, plus on-going assessment of impacts of contracted and completed investments.

Benefits to industry

The updated model allows assessment of competing projects and industry priorities prior to their implementation, to establish which delivers the best economic impact from investment of industry funds. It also allows the economic impact of feedlot related products to be evaluated as part of the ongoing MLA impact assessment reporting process.

MLA action

MLA utilises the feedlot economic model routinely for project assessment.

Future research

The feedlot model may be updated as required in the future.