Yesterday Richard and I found an excellent example of just what Bud Williams Livestock Marketing is. My daughter moved to a house which doesn’t have wood heat, and she still had some great oak, seasoned, split firewood left from last winter. She tried selling it at her garage sale with no luck. Then she told a friend who needed firewood that, if he would help her move on Saturday, he could have it free.
First he said he would, and then he changed his mind and decided he would go fishing instead.
So, my daughter called us and asked if we might want to haul that wood home (we heat with wood). Because we understand over- and under-value, we quickly realized that the wood, even though it’s severely UNDER-valued today (and it was a little hot loading, hauling, and unloading it in August) it would be greatly OVER-valued this winter when the snow is a foot deep and it’s 0 degrees! We do love going fishing, but when you realize you can go fishing lots of days in the summer, but a free load of wood only comes along once in a while, you might want to consider taking advantage of that situation.
The actual value of that cord of wood to heat a home doesn’t change from August to January. However, because people would much rather fish than haul wood in August and because they don’t need to put that stick of wood into the fire right now, the wood is under-valued and the fishing experience is over-valued.
Bud Williams Livestock Marketing helps you determine which classes of livestock are over- and which are under-valued today to help you make your marketing decisions in such a way so you make a profit!
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One Response
It’s turned off cold in the evenings, so we built a fire tonight and enjoyed the wood we hauled in August! I bet that fella is wishing he’d hauled that wood about now rather than go fishing! I know I am glad I made the decision I did.