We are going to discuss step three of our six-step exit planning process, which is to identify the type of exiting owner you most resemble. Why does this matter? Because all succession and exit plans do not follow the same path, and appropriately so.

The new year is taking shape with risk management policies offering enrollment for 2025 as the 2018 Farm Bill was granted a one-year extension, as well as the Federal Milk Marketing Order (FMMO) referendum passing with the new rule to take effect June 1.

In this week's news: The Whole Milk for Healthy Kids Act of 2025 was introduced, Rabobank reports increasing milk production costs, and consumers are moving away from plant-based beverages.

During the farm crisis of the 1980s, the term “cash flow is king” drove home the importance of using cash flow to pay debt. That’s still important as we continue to ride the cycles of the industry, but a projection of earnings is equally important. As the calendar transitions to 2025, diving into the question of “why both?” becomes a point of discussion.

The USDA’s World Ag Supply and Demand Estimates (WASDE) report offers forecasts for dairy, beef and feedstuffs.

A strong profit team can be the key to taking control of your farm’s success, no matter the size. With the right people at the table and a clear plan in place, you’ll be well on your way to achieving your business goals.

Producers can limit their risk exposure to costly mistakes in manure application by finding a custom application company that has the experience and knowledge to responsibly complete the job. A professional in the industry would have the proper equipment for your dairy operation, the range of knowledge needed for success and the capacity to get the job done in a timely fashion.