I recently read an interesting blog post about how bees manage their time and resources. The author Michael O’Malley’s main point is that: “Honeybees have institutionalized procedures that prevent catastrophic loss, and their record of accomplishment is stunning: more than 100 years of productivity and growth.” (Click here to see the blog)

It is amazing how much the current and future outlook for dairy production has changed since I last penned an article for Progressive Dairyman in June. At that point, experts were forecasting a record crop and producers’ attention was focused on where the milk price might be for the rest of 2012 and into 2013. As I write this, we now are wondering just how small the crop might be. By the time you read this, we will know with much more certainty what to expect corn and bean yields to be once they are harvested.

Have you ever wondered if you were saving money in the most tax-efficient way? People like to talk about asset allocation (the mix of stocks and bonds in your investment portfolio), but few ever talk about asset location. Asset allocation is important to a client’s portfolio – but just as important is what type of account those assets are in. The reason for this is taxation. How are accounts like IRAs, 401(k)s, SIMPLEs, SEPs, pensions and profit-sharing taxed differently than life insurance, Roth 401(k)s and Roth IRAs?

Do you remember the “tree interview” that Barbara Walters did with Katharine Hepburn back in the early ’80s? She asked her, “If you were a tree, what kind of a tree would you be?” In all fairness to Walters, her question was a follow-up to Hepburn’s comment that she was “like a tree.” As odd as that whole conversation was, it actually might not be all that crazy. Now just wait ... allow me to explain!

Had anyone asked a corn and soybean grower in June what their forecast for fall grain prices were, chances are good that the response would have centered around one word … Lower!

What’s it worth? You might be surprised at the variety of items of which dairy nutritionists are asked to assess the value. Partially intact feed bins, antique farm equipment, crossbred bull calves and silo staves are just a few of the more unique ones on the list. More commonly, springing heifers, a gallon of liquid manure or the neighbor’s farmland may need a quick estimate.

Livestock held for draft, breeding or dairy purposes that are sold as a result of drought or weather-related conditions may qualify for favorable tax treatment. Gain does not have to be recognized on these sales if the proceeds from the sale are used to purchase replacement livestock within two years from the end of the taxable year in which the sale takes place.