Read MoreNew Mexico’s Agricultural Information Station
Providing information and tools for New Mexico Agricultural Businesses from NMSU Department of Agriculture Economics and Animal Science.
Record-Keeping Promotes Decision-Making Success
Devlon Ford, The Samuel Roberts Noble Foundation
Keeping records for an agricultural enterprise is oftentimes looked on as unimportant or unnecessary. Too many times producers would rather fix fence, cut hay or work cattle. These activities are important to maintain, grow and expand any enterprise, but record-keeping is also a vital part of the enterprise.
Proposed IRS Rule Might Affect Transition Plans
In the past 50 years, family ranch operations have increasingly incorporated under state law to take advantage of the liability protection and other business advantages available to corporate entities. Limited liability companies (“LLCs”), family limited partnerships (“FLPs”) and other corporate entities also provide tax advantages when transitioning ownership of the operation to the next generation.
Corn and Feeder Cattle Price Relationship
Brenda Boete, University of Wisconsin-River Falls
Historically feeder cattle prices have been determined by several factors, with corn price and fed-cattle price having the greatest impact. The corn price has typically had an inverse relationship to both fed and feeder cattle prices. This means, as the price of corn increases, the price of feeder cattle decreases. This assumes that all other factors have remained constant, including other feeding costs as well as fed-cattle price.