Nearly 750 dairy producers and industry representatives gathered in Denver, Colorado, on Oct. 24-26 to learn the latest updates about dairy policy, exports, dairy checkoff, economics and more at the National Milk Producers Federation (NMPF), United Dairy Industry Association (UDIA) and National Dairy Board (NDB) annual meeting.

Having a clear understanding of debt, whether long-term or short-term, fixed or variable, can help develop a strategy. 

There are a lot of farmers in their 30s and 40s who don’t know what their future looks like.  The truth be told: 77% of farms don't have a succession plan. And this obviously has a lot to do with why only 12% of farms pass onto the third generation!

For fourth-generation dairy producer Jared Kurtz, managing the income-generating capabilities of a dairy herd and farm are important for the future, but investing energy in family is foundational to building a dairy legacy.

Transition/succession/estate planning can be intimidating, but here are four points that I hope ease some fears, answer questions and light a fire under you to stop procrastinating.

Second marriages can present a unique challenge for farm succession planning. The challenge occurs when one or both spouses have children from a prior marriage.

It might be the worst-kept secret in agriculture that many farmers are reaching retirement age, bringing to light the need for a proper succession plan. Yet, many farmers put off having the often difficult or uncomfortable conversations surrounding succession planning.

Growing up, the only way she could get time with dad was by being in the barn. The only way she could gain his attention was by working hard on the farm and “being of use.”