Home » budgeting

Articles Tagged with ''budgeting''

Transitioning to robotics: What to consider from a financial perspective

Transitioning to a robotic milking system is a significant investment for any dairy business. Consider these five areas when determining if robots are the right fit for your dairy farm.

February 9, 2023

It feels like these days we are inundated with information about automated milking systems. We have learned how these new innovative systems can increase productivity and improve efficiencies.

Doing your homework to make bull buying easy

Few decisions have as big an impact on your operation as which bull to purchase. Given due attention to detail beforehand, that choice can pay both short- and long-term dividends.

January 17, 2023

Troy Rowan

Purchasing a bull is one of the most consequential decisions a cow-calf operation can make. Bulls play an outsized role in the long-term genetic progress of our herds, especially when females are retained.

[Podcast] Budgeting tips with DeDe Jones, and the best and worst Christmas songs

December 1, 2022

In this episode, Editor Carrie Veselka discusses budgeting tips and financial habits for the new year with DeDe Jones from Texas A&M University. Also, Carrie, David Cooper, Cassidy Woolsey, and Paul and Tyrell Marchant preview the December issue of Progressive Cattle and duke out the best and worst Christmas songs of all time.

Budgeting tips and programs for the new year

A new budget should be created each year at the beginning of a production cycle. Budgets contain both revenue and cost projections, helping producers plan ahead so financial obligations such as loan payments are met.

November 14, 2022

DeDe Jones

Budgets help ranchers plan ahead so they can meet financial obligations such as loan payments and monthly bills.

Planning and cash flow: Brothers in arms

The cash flow budget is a tool that assists dairy producers with financial planning.

October 4, 2022

Kevin Bernhardt

Dwight D. Eisenhower, supreme commander of Allied forces, once said,“In preparing for battle I have always found that plans are useless, but planning is indispensable.”

When it is time to sell your production, remember you are driving the bus

June 17, 2022

Heather Malcolm and John Blanchfield

Editor’s note: John and Heather are not providing legal advice. They are sharing what they have learned from their years as bankers working with farmers and ranchers. This spring, the ag press has been filled with breathless articles about the future direction of commodity prices.

Business strategies for dairies in an economic reset

March 31, 2022

Bev Berens

The decade of 2020 has already been a financial and emotional roller coaster. David Kohl, professor emeritus, Virginia Tech University, suggests the next decade will be a turbulent ride of extreme economic volatility.

5 ways to prepare for bull buying season

January 10, 2022

Matthew Garcia

As many producers are coming out of calving season, or are right in the middle of it, we need to start preparing for the next phase of the production system. Specifically, we should be preparing for breeding season.

[Podcast] Management variabilities with Jordan Thomas

December 30, 2021

Cassidy, Paul and David visit with University of Missouri assistant extension professor Jordan Thomas on the management variabilities that producers can prepare for in a given year. Whether it be for calving, forage or marketing, cattle producers can sometimes be their own worst enemies in managing for profit. Thomas applies system thinking that helps minimize risk. The Progressive Cattle podcast hosts also discuss the outlook for the new year.

Separating personal and business expenses

March 24, 2021

Erica Louder

My entrance into the farm business world came by a rather unexpected job offer my senior year of college to work for our regional farm credit association.