Is pig farming a profitable business? This should be a question asked by anyone willing to start a piggery right?
Well, we will attempt to provide answers to this question here. But we won’t just stop there.
We will also look into other aspects of pig farming in addition to briefly discussing the steps involved.
So, if this has been a bugging, question, wonder no more. Is it profitable to raise pigs? Find out.
IS PIG FARMING PROFITABLE?
Though this question may sound simple, it isn’t as there as several contributory factors to profitability.
However, we dare to state the obvious that it is indeed profitable. If it weren’t there won’t be many people involved will there? But just hang in there as we look into the details of what profitability translate into.
So, while pig farming is profitable, we’d find out what makes it profitable.
Pig Farming Profits – Rules to Profitability
We’ve established the fact that pig farming is profitable. But there are certain rules for profitability. This section will discuss all of these rules. Without following these, there’s no guarantee that you’d end up profitable.
So, what are these rules? They include the following;
Identifying a Healthy Source for Pig Brood Stock
This is a major concern for any hog or pig farmer. But aren’t all sources supposed to be good enough? Not really! Certain sources are considered healthier and more reliable. More so, these sources have become renowned for producing healthy piglets. By buying from such sources, you are increasing your chances for profitability.
As easy as it sounds, this can be tricky for farmers. So, before buying, making the right inquiries will be a first and necessary step. But who do you ask? You can ask those who been in the business for some time. Consider performing health checks on your young pigs too.
It’s important to identify a market or packer for your pigs from the onset. We all know that several varieties of pigs exist.
Therefore, it’s best to know the varieties with the highest demand. You also need to have a packer who’s ready to mop up what you intend to produce. These tiny details will eventually impact on profitability in the long run.
Setting your Target and Working Towards It
Pig farming requires a lot of planning. One area you need to clearly work out is what to expect at the end.
In other words, you are projecting your expected returns right from the start.
Therefore, you need to factor in all your expenses. Expenses as mentioned here includes feeding, equipment and medication among others. This is done with a view to finding out just how much you’d make per head.
Working your Cash flow
Cash flow is everything in this business. Without having this clearly worked out, leakages are likely. Your cash flow enables you trace all your expenses as well as income from sales.
So how does one achieve this? You can do so by assembling a financial team. These will include your accountants, as well as other experts involved in the fig farming process.
When Will Your Pigs Be Sold
This is a very important consideration to make for pig farmers. After attaining maturity, pigs will need to be sold. But when will they be sold? There should be a definite timeline for this. Your market or packers will need to be contacted when it’s time. This simplifies the process and increases your chances of profitability.
Have a Plan
This sounds like a cliché, but isn’t. A plan is central to how well your business is organized. But then, since we’re talking about profitability, certain areas (as with all areas) of your pig farming business plan will need to be detailed. Your marketing strategies should be well worked out. This should include how well your pigs will be advertised and sold.
Your plan should be such that all areas of your pig farming business are fully covered. It’s only when this is done that there can be meaningful growth and profitability. However, every plan requires full implementation. Therefore, action is needed on your part in the form of full implementation.
Taking Calculated Risks
Like any business, pig farming comes with certain risks. One of the major ones includes diseases. Such diseases can wipe out pig populations in no time. But there are ways to limit its spread. This calls for close observation.
Symptoms are through which diseases can be observed. In the event of this, you’d need to seek for immediate medical help.
Veterinarians are always on hand to provide all necessary medications. Drugs administered may include antibiotics among others.
So, before starting your pig farming business, you’d need to have a clear understanding of how the business works. This should include the risks involved too.
Getting Hands-On Training on Pig Management
Hands-on training is a necessary step towards attaining profitability. Consider the possibility of learning from existing pig farmers.
In addition to these are online videos and books that provide a wealth of information. These can be leveraged on to enable you gain the needed experience. Working as an intern in a pig farm is yet another way to acquire hands-on-training.
What is the Scale of Your Pig Farm?
Your scale of operation is a contributory factor to your profitability. Here, we assume that you plan on starting on a commercial scale. But this doesn’t stop you from profiting on a small scale either.
The only difference here will be the profits made from both types.
There’s a lot of money to be made as a pig farmer. But it all depends on how knowledgeable you are.
Nevertheless, this doesn’t stop you from becoming a successful and profitable pig farmer. You’d find as much materials online such as this article and videos too. These help in no small way to set you on the right footing towards achieving your desire.