The cattle market is an uncontrollable, untethered animal. At times, it appears like a siren on the horizon – beckoning with the promise of fortune and prosperity – only to financially shipwreck cattle producers weeks or months before the calves ever sell.

How do successful beef producers make sure there is balance between the demands of the ranch and the other aspects of a healthy life?

The livestock industry is thriving with high calf prices. Sound accounting principles are crucial for strategic investments and sustainable growth. Managerial accounting offers a broader perspective on expenses and profitability.

Cattle producers invest a massive amount of time, effort and money in raising the best calves possible. Whether selling at the local auction barn, a value-added sale, from the farm site, to a nearby feedlot or via another method, the results of their long-term investments depend on many factors.

If there’s a phrase that rings true in the ears of any business owner or manager, it’s that “a business is only as good as its people.” And in a world where automation is rapidly transforming many industries, the cattle business remains one of the few that still relies heavily on people.

Strong relationships are what set producers apart. It isn’t fancy marketing or the shiniest catalog that keeps customers loyal. It’s showing up, telling the truth and being there when it matters.

Chasing cattle production perfection is a commendable goal, but could it be too costly and unrealistic for some operations? Will aiming for “good enough” help balance expenses, resources and challenges such as weather and market shifts?

It’s probably safe to assume that, at some point, you’ve heard about carbon credits. After all, carbon credits have been utilized by various industries globally for decades as part of efforts to combat climate change.

Ranchers are often asked multiple economic questions when meeting with their bankers. These may include: Are you making more money on raised or purchased cattle? Are you better off selling your calves at weaning, as stockers or carrying them through the feedlot? Is it more profitable to retain heifers or purchase cows when replenishing the herd?