For the cow-calf producer, the last couple of years have been maybe the most financially rewarding in the history of the beef business in the U.S. Many people talk about the strong financial performance and how that could lead to beef herd expansion in the next couple years, and the “10-year cattle cycle” would agree, but for how long?

There’s a certain sound that lives in the countryside. It’s not a song you hear on the radio, but one that settles into your bones over a lifetime. The value and assets dairy producers build over a lifetime can’t be taken with them, but they can be directed with a purpose.  

The 2026 Canadian Dairy Business Summit included two dairy producers who have successfully navigated the farm succession process. Paul MacLeod of Darcroft Farms near Embro, Ontario, and Clarence Markus of Markvale Holsteins near Beachville, Ontario, detailed their respective roads to completing their plans.

The difference between a fair easement and a long-term problem often comes down to easement terms that get overlooked. Estate planning, financial planning and other long-term strategies often get the most attention in discussions about keeping a ranch intact for the next generation – and for good reasons; those tools are critical to ensuring an operation can transition smoothly.

The third generation rule is the commonly cited notion suggesting most family businesses don’t survive beyond the third generation. Josh Baron and Rob Lachenauer, writing for Harvard Business Review in an article posted July 19, 2021, performed extensive research and shared convincing arguments that this “rule” is a myth without statistical or historical proof.

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

In late January, PDP’s Managers Academy ventured off the mainland for its first-ever event in San Juan, Puerto Rico. With the theme, “Business Prime on Island Time,” the event challenged dairy producers and industry representatives to take a closer look at their business structure and how to position it for success into the next generation.

New federal estate and gift tax limits for 2026 are set, making this a good time to revisit your long‑term transition plan.

Agriculture has had many challenges for a very long time, and one of those challenges is the lack of young people going into the industry. Dale and Janet Veseth, who have been raising efficient beef cattle on their family-owned ranch near Malta, Montana, since 1942, are passionate about encouraging young ranchers.