Retorno do investimento em pecuária de corte de mutuários do programa CONDEPE, em Goiás, no ano de 1976/1977

Abstract

Having in view to get Information from the influence of investiments, sales, expenses and profits or losses of mutuaries of CONDEPE Program, in Goiás, in the sector of cattle breeding for cutting, one searched to effect a financial analysis which permitted to extent the return of the investiment by means of the relationship existing between the profit expressed by the margin of gain and the rotation of the investiment evidenced by the rotation of the total assets. The general objetive of the present research was the one of estimating the return of the investiment in cattle-breeding for cutting of the mutuaries of CONDEPE Program, in Goiás in 1976/77. The data utilized were, firstly, destinated to researches concerning to the evaluation of the impact of CONDEPE Program in Goiás, Brazil, in the period from 1969/70 to 1976/77, and extracted from 64 quest ionaries which were answerd by the mutuaries in cattle breeding for cutting components of the studied population. They refer to the period between august-1976 to july-1977. The theorie model used tries to call the attention of the administration to get the greater possible gain through the available capital, focusing the center of interests of the rural interprise to the combination of sales values, utilized capital and expenses. The enterprises analysed were constituted of large rural proprierties and are specialized in cattle-breeding for cutting exploration. The biggest inversions took place in the artificial pastu rages and the smallest ones in grass for cutting and cultures for silo. Among the inversions of technological feafure one enphasized the cultures for silo, grass for cutting and artificial pasturages as those which reached bigger médium values for hectare. The position of the cattle-breeding enterprises is of relative insecurity, concerning to providing the necessities of money, because for not havâng amounts to receive, money in banks or cash on hand, they need to sell part of the stocks in order to win the financial difficulties of the delaying in order to overcome the momentary deficiencies, spoiling the attainment of the goals preconized by the Program. The receipts formed themselves through the sale of animais mainly of bullcalves with more than three years old and the milk, being the latter considered as a sub-product of the cattle-bree ding for cutting. The inputs, general expenses and workmanship were the items which, respectively, participated in a greater volume in the constitution of the expenses, enphasizing specially the contribu tion, in terms of value, of the suplementar feeding, seeds and seedlings, interests, fuel and lubricants, hired works, and specialized workmanship. The losses obtained by 19,00% of the analysed cattle-bree ders were because of the insufficient period of maturation of the investiments done. Those who got gains presented greater receipts of sales and stocks comparing to those who got losses. Half of the analysed mutuaries presented the return from the investiment upper the estimated médium of 2,62% to the program researched . This consideration permits to affirm that the rural enterpriser can accom plish with a programmed way his inversions and dedicates to the production, if he maintains or improve the relationships which exist between the sales, investiments and gains, measured in the research. The mediun calculation of 26,37% to the margin of gain was bigger than the taxes of interests and monetary correction atributed to the CONDEPE Program. The occurrence of margins of gain bigger than the current taxes of interests puts the explora tion of cattle-breeding for cutting as a profitable choice in the brazilian economy. The médium calculation of 7,68% to the rotation of the total assets indicated a low rotation of the assets to give bigger returns, maybe because of the fact that the leveis of in vestiments asked for the cattle-breeding of cutting were, because of the own technologic support involved, very high comparing to the sales done . The variables margin of gain and rotation of the total assets were those which, simultaneaously, presented themselves more associated to the returns of investiments in cattle breeding of cutting of mutuaries of the CONDEPE Program in Goiás, in the year of 1976/77.