Income - Articles - Page 2

3 ways producers can stay grounded when profit is up

Cattle producers should take full advantage of the current market upswing as record profits in the industry are projected for the next several years. Below are three ways producers can take advantage of the current market cycle while preparing for long-term success.

January 8, 2024

Josh Davis and Todd Moore

While drought and other economic challenges tightened the U.S. cattle herd in recent years, the constriction eventually created a significant – and welcomed – upswing in profitability for many beef cattle producers.

Waiting for ships to come in: Rethinking ranch profitability

Producers who simply hope for profitability, rather than demand and plan for it, are missing opportunities as managers.

September 6, 2023

Jordan Thomas

Aren’t we often waiting for something to happen, dreaming of some future set of circumstances that we hope will make our operation profitable?

Back to school on costs of production

A discussion of costs and other metrics of profitability in the context of theory, evidence and future contemplation.

August 8, 2023

Kevin Bernhardt

Costs of production are a common theme of farm profitability. However, it is also often confusing, elusive and changing.

7 best practices for making mixed use of cattle grazing land

Grazing land owners are being approached with opportunities to combine cattle grazing with clean energy and carbon offset technologies, but they need to be cautious to ensure their primary use of the land is not compromised.

July 10, 2023

Isaac C. Lawrence and Hannes D. Zetzsche

Cattle grazing may be a good use of cattle grazing land, but it may not be the only good use. Particularly as nationwide climate goals have driven investment throughout the country in clean electric and carbon offset technologies, cattle graziers may find new market opportunities to make mixed use of cattle grazing land.

Dairy risk management calendar: July 2023

Progressive Dairy provides monthly online updates of important dates, reports and advice affecting risk management decisions.

June 21, 2023

Dave Natzke

Here’s an update on risk management tools available through the USDA and/or USDA’s Risk Management Agency (RMA), as well as other information impacting your milk check.

Dairy risk management calendar: May 2023

Progressive Dairy provides monthly online updates of important dates, reports and advice affecting risk management decisions.

April 20, 2023

Dave Natzke

Here’s an update on risk management tools available through the USDA and/or USDA’s Risk Management Agency (RMA), as well as other information impacting your milk check.

Charitable donations can be a win-win for both parties

Working with a tax professional, producers can take specific steps to create substantial savings on income taxes. If done right, both the receiver and the giver can benefit.

September 16, 2022

Wesley Tucker

Fall is a wonderful time of year, not just because of the much-needed reprieve from hot temperatures, but also for the many wonderful events it brings – fall colors, trick-or-treating for the kids and Thanksgiving gatherings with family.

Consider Roth IRAs for children earning a wage on the farm

July 21, 2022

Jessica Groskopf and Douglas Nelson

Many farm families allow children to earn a wage from their labor. These early dollars earned are often placed in a savings account or a “529” college savings plan.

Forage quality and quantity in 2022

January 31, 2022

Michael F. Hutjens

Profit margins could be a challenge in 2022 as feed prices remain high, with premium-quality alfalfa hay over $240 a ton, shelled corn approaching $6 a bushel and soybean meal over $370 a ton. One solution is if you have adequate forage amounts and quality.