Profitability is basically the difference between income and expenses. In today’s world of tight margins, producers should be looking at their own balance sheet now more than ever to make sure they are making smart decisions that can impact either end (income or expense) of the equation.

After surviving an economic freefall in the 2008 recession, the horse market is at an all-time high. The reasons include a resurgence of lucrative rodeo events.

“It is another piece of the puzzle for the next generation,” says Pat Wiebe of Deep Creek Cattle Company and Wiebe Farms Inc. in Buhl, Idaho.

During the Texas and Southwestern Cattle Raisers Association (TSCRA) convention, Justin Benavidez, assistant professor and extension economist at Texas A&M University, encouraged producers to consider their “why” before starting this new venture and provided some answers to questions that often arise when getting started.

Since the dawn of time, mankind turned, and continues to turn, live animals into protein to feed the world. Whether it be by raising livestock or hunting wildlife, the job gets done and people get fed – and in some cases, these two paths cross.