When it comes to the “right” amount of debt, farm business owners sometimes feel like “you’re damned if you do and damned if you don’t.” Borrowing money can be risky, but on the other hand, not investing in the business could limit opportunity and put the farm at a significant competitive disadvantage over time.

While the long-term outlook for agriculture is bullish, dairy producers face short-term financial challenges, Rod Wautlet, Agri-Business Consultants LLC, told producers attending the 2017 Vita Plus Dairy Summit, Dec. 6-7, in Madison, Wisconsin.

The dairy industry is volatile and unpredictable, and that isn’t likely to change. Dairy managers must embrace and adapt to that mentality to be successful, Michael Swanson, ag economist with Wells Fargo, told dairy producers attending the 2017 Vita Plus Dairy Summit, Dec. 6-7, in Madison, Wisconsin.

Most federal tax reform changes signed into law under H.R. 1 went into effect Jan. 1, 2018, meaning they will impact tax returns filed in 2019. However, dairy farmers need to understand how the law is impacting them early in 2018 so they can make good business decisions and plan accordingly in the months ahead.

Most dairies I work with utilize dairy software to help organize daily activities such as what cows to breed, treat, etc. While this can be extremely helpful in staying organized, what can make data even more valuable to a dairy is its ability to help us solve mysteries.

There is little to feel warm and fuzzy about in the U.S. cow dairy industry these days, so it is not surprising some producers are hearing about $35 per hundredweight and higher numbers for goat milk and warming to the idea of transitioning.

There are plenty of jokes shared among cow dairymen that praise one breed at the expense of another, but at the bottom of the heap in nearly every joke is the lowly goat.

For the dairy industry, and me personally, the end of calendar year 2017 was a rugged stretch. With the release of the latest dairy undercover video just before the Christmas holiday, there were six separate videos released since the middle of November.

The transition of a farm can make or break not only the future of a business, but also the relationships among family members involved. A banker, an attorney and an accountant recently shared their advice on how to minimize drama when dealing with the transfer of farm assets.

Responding appropriately to agricultural emergencies requires a specialized skill set. Evidence suggests the more exposure emergency responders have to agricultural situations, the more comfortable they will become when dealing with safety issues in those environments.