This can be a busy time of year for many farmers and ranchers. Calving season may be in full swing, feeding and other chores are carried out in cold weather, and tax returns are completed and filed. In addition, there are a plethora of meetings, conferences and other educational opportunities. Finalizing last year’s financial records in order to file tax reports and analyze the business is not a fun task to consider. Some farmers and ranchers are required to file their tax returns by March 1, while others have until a later date. Filing deadlines depend, in part, on business form (sole proprietorship, partnership, etc.) and any estimated taxes paid throughout the year. . .   click here to read more.
 

Bought to you by:
Progressive Cattle and The RightRisk Team

 
 
The benefits of adding annual forages to a traditional grain and/or oilseed crop rotation include better ground cover – reducing wind erosion during fallow periods, increases in soil organic matter, better weed control and better soil infiltration rates, which reduce water erosion. In addition, there is the potential to increase income from a given land base by adding forage sales revenue that more than compensates for any increase in costs or decrease in grain and/or oilseed revenues. If the producer also owns cattle or other ruminant livestock, flexibility emerges on how and when to best utilize the annual forage as feedstuff in order to capitalize on its full value to the agricultural business…   click here to read more.
 

Bought to you by:
Progressive Forageand The RightRisk Team

 
 
Ag legacy is the summation of a lifetime of achievement and the context in which that lifetime will be remembered. A legacy is not just money but a reputation, what was accomplished and the difference a person makes in the world as they pass through – their mark on the universe. More importantly, a legacy is something passed along years after a person leaves the world as we know it. In historical terms, a legacy is something handed down from one generation to the next. Deciding to leave a legacy can provide a road map for the future, embracing the meaning of a life.
….   click here to read more.
 

Bought to you by:
Progressive Forage
and The RightRisk Team

 
 
Today’s rural families operate in a time of increasing financial uncertainty. Current financial conditions are unlike any previously experienced. Keeping accurate, up-to-date financial statements, production records and knowing the overall financial health of the business has never been more important. Accurate and current financial and production records are an essential part of any successful rural enterprise. They allow more careful planning for uncertainty, new opportunities and allow for better daily and strategic operation decisions. Managers who know their financial situation can more quickly evaluate and adapt to changing market and financial conditions. This can mean being better suited to recognizing and dealing with financial problems when they arise.
….   click here to read more.
 

Bought to you by:
Progressive Forage
and The RightRisk Team

 
 
One of the primary strategies for managing risk is transferring risk outside the farm or ranch through insurance products or other mechanisms. Crop insurance dates back to the 1930s in the U.S. However, under those programs, there have not been many insurance options available to forage producers. That has changed considerably in recent years. This article provides a brief summary of the options currently available offering protection to forage producers.
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Bought to you by:
Progressive Forage
and The RightRisk Team

 
 
Whole Farm Revenue Protection (WFRP) insurance was created by the Agricultural Act of 2014. It has been available for purchase since the 2015 crop year. Since then, each year has brought updates to the program. In 2016, the USDA Risk Management Agency expanded WFRP availability to every county in the nation.
….   click here to read more.
 

Bought to you by:
Progressive Forage
and The RightRisk Team

 
 
Risk management is a necessary but sometimes frustrating activity. Good risk management decisions can result in bad outcomes due to the uncertainty involved. For this reason, it is important to judge the quality of a risk management decision based on the information available at the time the decision is made and not solely on the final result.click here to read more.
 

Bought to you by:
Progressive Forage
and The RightRisk Team

 
 
When it comes to risk management strategies, there are four basic actions a manager can take: (1) avoid the risk, (2) transfer the risk, (3) control the risk or (4) accept the risk….   click here to read more.
 

Bought to you by:
Progressive Forage
and The RightRisk Team

 
 
Mentoring is a valuable way to transfer knowledge from an established producer to a new operator. It is also a tremendous risk management tool. Any time you gain knowledge about something with a direct effect on your farming or ranching operation, you remove uncertainty and risk…   click here to read more.
 

Bought to you by:
Progressive Forage
and The RightRisk Team