In this edition of “Ask the Expert,” Robert White answers questions about the FSA farm loan application process.

At Jer-Lindy Farms, crops are grown, cows are cared for and milk is produced, much like many dairy farms across the nation. In addition to the conventional way of dairying, the Jennissen and Sjostrom families also turn their milk into cheese at the on-farm Redhead Creamery and make whey-based spirits, all while telling their story through public and private on-farm gatherings.

Collecting and organizing data is crucial for preparing and planning for the next crop year. For example, data on acreage, yield and expected prices can help estimate gross returns. This information is valuable when negotiating with a banker for a new loan or refinancing an existing one. It’s also useful for setting lease terms with a landlord for the upcoming year.

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).

Investing in replacement heifers without financially stressing the ranch is every beef producer’s goal. They must consider risks facing the operation, manage their financial health and discover additional income streams the ranch provides.

While I could go with the ordinary list of things like global events, market volatility, geopolitical issues, global economics and poor financial records, the things that really keep me awake at night fall more into the symptoms or characteristics of what leads to financial issues on a farm. Let’s take a look at a few that top my list.

To obtain a loan, your application must be approved by an underwriter – a specialist who examines your finances. To obtain capital on favorable terms, it’s helpful to understand what underwriters are looking for and take action to accelerate the underwriting process.

In the realm of capital and collateral, the appraised value of dairy real estate, including specialized facilities, takes on great importance.