Benchmarking technical, financial analysis and economic efficiency in Maritime Canadian agriculture

Purpose This study examines the technical and economic efficiency of beef farming in Maritime Canada through benchmarking. Design/methodology/approach Drawing data from the Canadian Cow-Calf Cost of Production Network and 12 focus group sessions conducted in 2021, this evaluation assesses key parameters, including feed costs, income diversification and productivity indicators. Findings Results highlight that feed costs, particularly for grains and hay, are the most significant expenditure in beef farming. Benchmarked farms in Maritime Canada show notable variations in economic and technical performance compared to those in other regions, influenced by factors such as feed usage, income sources and family labor contributions. The study emphasizes the significance of strategic resource utilization, including alternative feed options and family labor, in improving productivity and profitability. Practical implications Practical recommendations include educating farmers on ration balancing programs, adopting alternative feeds like corn silage to mitigate high grain prices and fostering knowledge-sharing networks. Social implications The findings aim to support stakeholders, including local governments and industry councils, in developing evidence-based policies and training programs to strengthen the region’s beef industry. Originality/value By leveraging the resource-based view (RBV) theory, this research contributes to understanding performance metrics and strategic resource management in the agricultural sector.