Had to get two cow calf experts to calculate profit the same. Lots of ways to approach allocations, overhead, and "one time" costs. Some just leave them out to keep it simple... So you see annual cows costs ranging from about U$S 500 to 1000.
Average producer here loses money because he exposes about 20 cows, weans about 15 calves, and drives a green FWA cab tractor. Go figure.
It would be nice to see an article on net worth once in a while, and less articles using non approved accounting methods to show a "profit".