One of the most challenging actions for business owners to take is to transfer some of their responsibilities to someone else. Most owners tend to be fiercely independent, driven by a clear purpose and focused on specific goals.

Discover how predictive analytics and deep-learning weather forecasts are helping farmers and ranchers outsmart nature’s toughest challenges.

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.

Estate and succession planning can feel overwhelming, and it’s no surprise that many producers put it off. Many factors and unknowns come into play and can include: fear of losing your identity, not wanting to give up control, ego, fear of things changing and not wanting to hurt people’s feelings.

For those considering growing their beef cattle herd, quick wins and day-to-day details may be extremely tempting to pursue. But like most things in life, it’s important to look well beyond the immediate. Expansion may have different meanings for different operations.

For cattle producers, succession planning is often discussed in terms of what to do: create a will or trust, meet with an attorney, talk to your accountant and start building a plan.

Whether the market is as strong as it has been recently or in a slump, the health and growth of calves are critical to long-term success. Producers need to adapt their strategies to ensure they maintain profitability as best possible.

On July 4, President Donald Trump signed the One Big Beautiful Bill Act (OBBBA) into law following swift passage by both the House and Senate. This sweeping legislation brings significant changes to individual, business and nonprofit tax planning – many of which take effect in 2025 or 2026.