A lot of people tell me that they want to be “debt free.” They are tired of making big interest payments on land, livestock, machinery and their operating note. They have had too many sleepless nights worrying about making the next payment. They believe that if they didn’t have to borrow money they would be more profitable and financially secure.
Letting government programs dictate your management and set priorities can be costly. The most obvious example is probably the emergency feed program. In drought impacted areas, this program incentivizes ranchers not to destock. The result has been severe overstocking during drought, when the impacts of bad management are intensified.
This is an exciting time of year for me. Thanksgiving is awesome, and I have a lot to be thankful for. But that’s not the excitement I’m feeling right now. The excitement comes right after calves are weaned and cows preg-checked. Why is that so exciting? (I’m glad you asked.)