The challenges facing today’s dairy farmers are vastly different from those of previous generations. Rising costs, environmental regulations and technological advancements have created a complex and competitive environment. For the next generation poised to take over family dairy farms, financial literacy is not just an asset; it is a necessity.

Join the whole Progressive Cattle crew – David, Paul, Tyrell, Carrie and Abby – as they enjoy the Cassia County Fair in southern Idaho. They speak with Ryan Udy about the experiences of being a junior exhibitor at the county fair and all the fun that comes with it. Abby also interviews Elliott Dennis, from University of Nebraska – Lincoln, as they compare the cattle market in 2024 versus 2014 and discuss how producers can make the decision to cull, maintain or expand this fall.

Cow-calf producers are expected to make $709 per cow over cash costs, including pasture, in 2024. These levels are nearly identical to the inflation-adjusted highs experienced by producers in 2014 ($534 in 2014 dollars, $708 in 2024 dollars).

When evaluating new loan requests or reviewing existing credit, various factors come into play, each holding significance. These factors are commonly referred to as the 5 C's of finance: character, capital, capacity, conditions and collateral. Meeting the standards set for these factors is essential for obtaining approval.

There’s a lot of buzz around renewable natural gas (RNG) as a means for dairy farmers to diversify revenue while improving their carbon footprints. For many operators, it can be a particularly attractive option, especially given the current market and economic conditions.