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MARKETING STRATEGIES often take the form of protecting downside price risk . . .

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FEED IS OFTEN one of the most expensive and variable input costs in cattle production.

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JUST GETTING STARTED you likely need financing for land, equipment, livestock and possibly day-to-day operations.

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SMALLER FIRMS present their own, unique set of risk-related challenges. Often, smaller businesses have even less room for error.

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TAX MANAGEMENT can be overwhelming for a variety of reasons, especially from a production agriculture standpoint.

The massive size of the federal tax code and its accompanying regulations, along with the number of hours required for compliance can seem staggering, especially to new and beginning producers. Although tempting to hand it off to an accountant, tax management should be an integral part of your farm management and overall risk management planning.

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OPERATORS just starting out in agriculture may be unaware of the many ways inflation can sap the profitability of a business, how to properly quantify its effects or strategies for dealing with it.

The Covid-19 pandemic caused many disruptions, one of the more serious may be inflation. Virtually everyone involved in production agriculture is dealing with the effects of inflation at present. In addition, indications are that it may be with us for a considerable time. Supply chain disruptions and inflation are often interconnected. For example, manufacturing disruptions that have come about due to Covid or other issues, have reduced supply and led to increasing prices.

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UNDERSTANDING your current financial position allows you to address potential issues and make changes to succeed.

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WYOMING comes with a unique set of challenges.

GROWING SEASONS can be tough and are often short; weather extremes can be intense; precipitation can be hard to come by; and the wind can be brutal. Discovering what options are available or which work best can be tough, especially for those just getting started in agriculture. The type of tillage system selected and how well it is implemented can mean the difference between success and failure. Past articles have offered insights into various forms of risk management, including production risk, financial risk, human risk, and more. Have you ever considered that adopting the correct tillage system could act as a form of risk management?

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AGRICULTURAL PRODUCTIVITY in much of the Western U.S., including Wyoming, is tied closely to the availability of irrigation water.

Most of the highly productive land in the West is irrigated. If you are new to farming or ranching, it is imperative to educate yourself about irrigation options and determine which system(s) might work best for your operation. The goal should be to identify the most efficient use of available water in the most cost-effective manner possible.