Ranchers currently have exciting opportunities, but it’s important to position yourself appropriately. Operational costs as well as the price of critical inputs for cattle – such as feed and labor – have increased in recent years. To build a sustainable operation, ranchers should take advantage of the current market to develop financial resilience and thoughtfully manage risks.

Succession planning protects the family operation before crisis forces decisions no one is ready to make.

As we all turn the calendar to another year, this is a great time to reflect on what worked in 2025 and what improvements we want to make in 2026. Reflecting on past times while evaluating and planning for future opportunities is a way to ensure progress of both short-term and long-term goals.

Whether you’re pursuing a new opportunity or responding to a crisis, financial resilience provides a healthy foundation for thriving amid uncertainty. With a solid vision and goals, a clear view of your organization’s value and a plan to address risk – your business can be ready for just about anything.

Accurate financial recordkeeping is crucial for cattle operations. Creating annual budgets helps ranchers manage income and expenses, plan for financial obligations and mitigate risks from market fluctuations and unexpected costs.

Ranchers are often asked multiple economic questions when meeting with their bankers. These may include: Are you making more money on raised or purchased cattle? Are you better off selling your calves at weaning, as stockers or carrying them through the feedlot? Is it more profitable to retain heifers or purchase cows when replenishing the herd?

QuickBooks Desktop launched in 1998 as financial accounting software comparable to Quicken but with more features. Accountants and bankers became early adopters, liking the program’s double-entry system that allows users to create detailed financial reports. They began recommending QuickBooks to clients, including agricultural producers.