Farm Business - General

The Only Thing That Lasts: How Ted Turner’s 2 Million Acres Redefined Land Ownership

Thu, 07 May 2026 17:58:50 GMT

Ted Turner’s rise to the top of the Land Report 100 marked a transformative era of American land ownership. Once the largest private landowner in the U.S., Ted Turner had many titles, business accomplishments and accolades as well.

With his death on May 6, 2026, the discussion of his legacy began. And undoubtedly his impressive 2 million acres is the driving force with a “save everything” philosophy toward land stewardship.

“If you visit any of Ted Turner’s properties, there’s a bumper sticker available that reads, “Save Everything,” says Eric O’Keefe editor of The Land Report. “That was his approach, as far as being a landowner. He was a conservationist, first and foremost.”

Turner built a revolutionary business empire—taking father’s billboard company to building a global media powerhouse, pioneering 24-hour news with CNN and acquiring the MGM film library. His business success fueled his land purchases as he reinvested those profits into large tracts of land across the country, and notably in the western states.

“He was one of the original, in this generation, of corporate magnates who plowed their profits into land, O’Keefe says. He adds Turner was friends with the current No. 1 largest landowner John Malone, who he “gave the land bug to.” And it was Turner’s investments that inspired others including Bill Gates.

Turner’s acquisitions gained momentum in the 1990s, making his the first No. 1 largest landowner when The Land Report started its first ranked list in 2007. In the 2025 Land Report list, Turner was the fourth largest with 2 million acres located in Montana, South Dakota, New Mexico, Kansas, Nebraska, Georgia and more.

“He looked around corners in ways that few of us can really comprehend. He was buying the greatest ranches in the American West, and these phenomenal quail plantations decades before anyone else,” he says.

O’Keefe says a hallmark of Turner’s land buying was not only in its accumulation but how he enhanced it with conservation efforts.

“I love that Gone with the Wind quote, and of course, Ted acquired the MGM Library and, owned Gone with the Wind. And the quote is, ‘land, it’s the only thing that lasts.’ And at the end of the day, that was, to him, in my opinion the most powerful element of his legacy.”

New Data: Is U.S. Agriculture Facing a Typical Cycle or a ‘Geopolitical Reset’?

Thu, 30 Apr 2026 18:56:53 GMT

The latest Farm Journal Ag Economists’ Monthly Monitor shows a bit more pessimism from respondents on the current state of the ag economy as well as how the present compares to one year ago.

Farm Journal regularly reaches out to a vetted list of 80 ag economists from across the industry. Providing directional insights, 10 of the 16 economists who responded to the April survey believe the ag economy is in a worse state than it was a year ago. Slightly fewer than half expect conditions to be “somewhat better” in 12 months, while one-third still anticipate further decline.

“I just haven’t really changed my level of pessimism regarding this year. This is going to be a tough year. There’s no doubt about it,” says Michael Langemeier with Purdue University.

The conflict in Iran weighs heavy on economists’ minds; high fertilizer prices and high energy costs dominate concerns. This overshadows the previous looming concerns of the trade fragility and export deficit. The previously announced government payments are in the rearview mirror.

Wes Davis from Meridian Agribusiness Advisors agrees that profit margins squeezed by high input costs are the top concern.

“When we talk about the more pessimistic view of the ag economy, fertilizer prices driven by the outbreak of war in Iran is certainly top of mind,” he says.

But Davis says there have been some positive tailwinds for commodity prices over the past few months, and there’s ‘no slowdown’ in demand for animal proteins.

“Those tailwinds continue to be present,” he says.

A Fundamental “Structural Shift”

Three-quarters of the economists believe U.S. agriculture is undergoing a permanent structural shift rather than a typical cyclical phase. They cite increased competition from Brazil, changing trade policies and the rapid adoption of artificial intelligence as factors reshaping the industry for the long term.

(Farm Journal Survey, April 2026)

“I’m thinking of this one as the geopolitical and input reset,” Davis says. “What I mean by that is, where things go and how we interact with the global ag economy when this cycle or when this shift is over will be different. The way that farmers get their agrichemicals, their fertilizers, their vitamins/trace minerals for feed, their tractors will all be different.”

Davis brings up the farm bill as another example. He questions whether the structural shift in policy is moving away from supporting “commercial farm preservation” and more toward “rural economic development.” This distinction could change the long-term framing of ag policy.

While Davis’ perspective is in the majority, Langemeier offers a counterpoint. He says this today reminds him a lot of the 2014 to 2019 period when there were about six years in a row of relatively low crop margins.

“I know there are a lot of changes going on, and certainly we’re worried about the competitiveness of U.S. agriculture compared to Brazil, particularly for soybeans,” he says. “As one example, I think the AI developments actually could be positive, and so I don’t necessarily see why that would necessarily mean a structural shift that would be negative.”

Geopolitical Impacts on Input Costs

The conflict in Iran and broader Persian Gulf instability are identified as primary drivers of agriculture’s economic health. Economists are specifically concerned about how these tensions are “pinching margins” by driving up the costs of energy and fertilizer while commodity prices remain relatively low.

“The negative impact of the Iran conflict has been increased fertilizer and energy prices. I did some crop budget calculations: If you hadn’t bought your fertilizer and most of your fuel is yet to be purchased prior to the Iran conflict that’s a pretty large effect on corn break-even price. I calculate it to be 25 cents a bushel. And when your break-even price is already at $5, which is way above what the futures price adjusted for basis is this fall, that’s certainly not helping matters,” he says.

It’s not just fertilizer and fuel. It’s other input categories in row crop agriculture and livestock production as well.

Noting input prices are 15% to 20% higher than pre-COVID levels, Davis points out that prices for active ingredients have gone up 20% to 30% since the conflict in Iran started.

“This continues to exacerbate that question around how long are we going to continue to see input prices increasing?” Davis says. “The other things that are less talked about but are starting to show up in pricing data are things like low inclusion additives for livestock feeds, so things like vitamins and trace minerals are starting to show up in pricing increases as well as they are being disrupted in trade flow and a slowdown of exports from China.”

Langemeier adds to the question around input pricing increases, saying it’s unknown if the uncertainty and elevated costs will go into 2027.

Strategic Deferment of Capital Expenses

To manage tight margins, farmers are expected to prioritize paying down debt over investing in land, equipment/technology, capital improvements and labor. Machinery and equipment purchases are the top items likely to be reduced or deferred in 2026, with half of economists also warning that cuts to fertilizer and crop protection could start impacting yields.

(Farm Journal Survey, April 2026)

“The number one thing as always is farmers want to be paying down debt,” Davis says. “Equipment is going to continue to be in a trough, and my expectation is that tractor sales year over year are still going to be 10 to 15% lower this year versus last year.”

He also foresees a continued transition to generic crop chemicals for the next two years.

Davis makes a distinction regarding which farms could survive this pinch on profitability. He describes a “tale of two economies” where disciplined farms with high liquidity can still find financing to grow, while those who grew aggressively at the peak of the cycle are facing a “pullback” from lenders. This adds a layer of nuance to the “commercial viability” discussion.

Langemeier provides a sobering warning about how farmers are managing the third year of low margins. He notes a trend of farmers starting to borrow against their land (non-current debt) to cover operating expenses — a pattern seen during the 2014 to 2019 downturn. He emphasizes the urgent need for “contingency planning” and a “Plan B” for debt repayment this fall.

“Usually, farms will try to cover their owner withdrawals and repay debt before they even think about making down payments on machinery. Capital expenditures always get squeezed when cash flow is tight. That’s just the way it works. We’re in one of those situations where capital expenditures are just going to be lower, primarily machinery and buildings,” Langemeier says.

One of North America’s Largest Farms Files for Financial Protection, Is Restructuring

Thu, 23 Apr 2026 14:50:03 GMT

Earlier this week, Monette Group, which farms more than 400,000 acres in Canada and the U.S. filed for financial protection and is restructuring.

The company filed for creditor protector in Canada via the Companies’ Creditor Arrangement Act (CCAA) and filed Chapter 15 in Delaware Bankruptcy Court.

The Cost of Expansion: Efficiency Erosion and the Leverage Trap

The group’s recent financial trajectory highlights a cautionary tale of aggressive, debt-fueled expansion meeting a volatile economic climate. While the organization successfully scaled its footprint and top-line revenue over the last several years, operational efficiency and debt sustainability have reached a critical breaking point. [all dollars are Canadian]

The Era of Aggressive Growth (2017–2022)
Driven by substantial borrowing, the Group underwent a massive scale-up, growing revenue from $45 million to $198 million and expanding its cultivated land from 97,000 to 269,000 acres. While total EBITDA initially followed this upward trend, the underlying efficiency—measured by EBITDA-per-acre—began to signal trouble, dropping significantly from its 2015 highs.
Operational Headwinds and Margin Compression (2024–Present)
The transition into 2024 saw revenue climb to a record $347 million across 440,000 acres, yet profitability decoupled from growth. Diversification into produce and cattle, intended to broaden the portfolio, instead acted as a drag on the bottom line. By 2024, EBITDA-per-acre plummeted to a decade low of $83—a nearly 50% decline. This downward trend was exacerbated in 2025; despite a projected $72 million EBITDA, actual earnings reached only $31 million due to a “perfect storm” of poor crop prices, high input costs, and yield losses.
The Sustainability Crisis
The group’s reliance on cheap capital (approximately 3% interest rates) and rising real estate valuations proved successful in a low-rate environment. However, the convergence of flat property values, persistent inflation, and high interest rates has rendered the current capital structure unsustainable. Despite holding significant underlying asset value, the group is now overleveraged, with compressed margins leaving little room to service debt or maintain liquidity.

What Is Monette Group?

Since 2010, Monette Group has been aggressively expanding from its family farm in Saskatchewan to Manitoba and British Columbia in Canada. Current President Darrel Monette took over the family farm in 2013. In 2019, the company expanded into the U.S. first in Montana and then Arizona and Colorado. The company’s website says its core values are: teamwork, efficiency, growth and ‘get shit done.’

With its expansion and diversification, the business expanded into four main brands:

Monette Farms: growing pulses, wheat, corn, sugar beets, barley, and alfalfa in Canada and the U.S.
Monette Produce: with growing locations in California, Arizona and Canada
Monette Cattle: ranches located in Saskatchewan and British Columbia
Monette Seeds: located in Saskatchewan in partnership with NexGen Seeds

The 18 business entities of Monette Group employ between 300 and 600 people, depending on the season.

Grain production, primarily canola, wheat and durum accounted for over 60% of group revenue in 2024 and more than 50% in 2025. Grain operations dominate the Canadian footprint with 68% of the group’s production occurring in Canada.

Fresh produce operations are primarily located in Saskatchewan and British Columbia, with significant fall and winter production in Arizona. In 2025, produce accounted for approximately 15% of group revenue. Crops include carrots, squash, broccoli, cabbage, pumpkin, cauliflower and watermelon. The group’s produce is mainly sold to Loblaws and the Little Potato Company.

Cattle ranching accounted for approximately 10% of revenue in 2024 and 17% in 2025. Cattle ranching operations focus on Black and Red Angus cattle, including herd breeding in British Columbia and feedlots across Alberta and Saskatchewan.

Seed processing accounted for 19% of revenue in 2024 and 16% in 2025.

Its main crops 10 years ago were green and red lentils, durum, canola and malting barley.

According to the company’s website, Monette Farms’ newest addition is west of Phoenix, Arizona. It’s a certified organic farm and headquarters to Monette Seeds USA.

What Monette Farms Has Said

President Darrel Monette has penned a letter sent to landowners and leasing partners as well as a press release distributed with general counsel as the point of contact. Both are dated April 21, 2026.

In both Monette says this process will allow them to stabilize finances, restructure debt, and continue operating.

The letter read: “This filing is a proactive response to current industry pressures (higher input costs, higher interest rates, and tighter credit) and is not a liquidation.”

It continued: “We are working with our advisors and a court-appointed Monitor to develop a restructuring plan for credit and court approval.”

Per a company press release, the day-to-day farming activities, spring seeding and livestock care are continuing as planned. The release also said all employees are being retained at this time.

The Assets of Monette Group

According to its 2025 financial statements, the group has $1.24 billion of total assets booked at cost (and not reflective of market value.)

As of April 12, 2026, the group owns 274,000 acres of land. In the U.S. Monette owns 61,700 acres in Arizona, Montana and Colorado.

For crop production, it leases 175,000 acres in Canada and 43,000 acres in the U.S. with annual total lease payments of $29.4 million. For its cattle business, Monette holds grazing licenses on 1.2 million acres of land in Canada.

The group owns three seed processing facilities in Canada.

It leases more than 1,700 separate units of farm equipment, with 1,600 units leased from John Deere Financial. Annually, the group spends $26 million on leased equipment.In 2023, it was newsworthy when the business transitioned from Case IH equipment to John Deere equipment in a reported $100+ million deal.

What Else Is There To Watch?

Monette Group is one of the largest privately held farming operations in North America.

The timing of this filing is critical for the farm to put in a 2026 crop. In the CCAA filing, Monette Group said its seed expenses are $40 million per year. To get set up for seeding, Monette’s operations may receive 41 truck loads of product a day (nearly 15,000 truck loads a year).

The main filing is in Canada with proceedings under the Companies’ Creditors Arrangement Act (CCAA) as part of a court-supervised restructuring process. From here is a process by which Monette will work with a court-appointed monitor to develop a restructuring plan for creditor and court approval.

The Chapter 15 filing asks the U.S. court to recognize the Canadian CCAA proceeding as the “foreign main proceeding” which can extend the protection of U.S. assets. It also prevents U.S. creditors from taking legal action such as seizing assets or filing lawsuits.

In the CCAA document, it is stated Monette Group held a $950 million secured credit facility dated December 5, 2018, which matured on April 15, 2026. Repayment of the obligations owing to the syndicate of lenders is a necessary component of the group’s overall restructuring strategy.

The CCAA filing comes after Monette per the guidance of its lending syndicate to sell assets. Two tracts were sold in 2025: in Regina, Saskatchewan for $41.18 million and 17,000 acres of land in Montana for $47.5 million. Additional sales were attempted this this winter, but with only one completed sale of 12,932 acres of farmland in the Stewart Valley of Swift Current, Saskatchewan for $54 million.

In the affadavit, Monette says a restructuring and selling of assets by the court appointed monitor is important to provide an orderly sale of assets and not cause a bulk liquidation which could result in lower values.

The farm has been active on social media:

The New Ag Economy: Why This Downturn is a Structural Shift, Not Just a Cycle

Mon, 13 Apr 2026 21:22:18 GMT

What You Need to Know:

Structural Evolution: This downturn is a permanent market shift, not just a temporary cycle.
Friend-Shoring: Trade is moving toward geopolitical allies to ensure supply chain resilience.
Aggressive Cost-Cutting: Farmers are doubling generic input use and delaying machinery purchases to protect margins.
Financial Resilience: Better management and working capital make today far more stable than the 1980s.
Premium Protein Demand: GLP-1 medications are driving consumers toward smaller, higher-quality meat portions

As the industry enters the third year of this downturn, farmers and agribusinesses are questioning if a recovery is on the two-year horizon. While cyclical behavior is normal, two economists suggest the structural evolution within crop protection, machinery, technology, livestock and other individual sectors is creating a different kind of staying power for those who survive the recovery.

The Evolution of the Cycle

When characterizing the current economic cycle in agriculture, historical patterns provide a necessary baseline, yet the present landscape is defined by unique pressures. Typical agricultural cycles consist of roughly six years of expansion followed by four years of decline. Currently, the market is navigating a “corrective period,” returning to long-run averages.

The drivers of growth are typically demand shocks — export surges, fuel demand or policy shifts such as the Renewable Fuel Standard. However, Wes Davis, ag economist at Meridian Ag Advisors, notes the current environment is an intersection of traditional contraction and sector-specific evolution.

“What I think we’re experiencing right now is that typical cycle behavior where we see growth in some business firms, and then some contraction and pullback to adjust to the cycle going back to more of the long-run average,” Davis explains. “I think we’re also seeing evolution of individual sectors within the market where there’s adjustments happening because of the industry itself.”

In other words, this isn’t just a cycle — it’s also a structural shift.

Change Fatigue and Modern Volatility

Farmers aren’t strangers to volatility, but global trade disruptions, policy shifts and rising competition, especially from Brazil, are layering uncertainty onto already volatile markets.
Farmers are grappling with “change fatigue,” a byproduct of the high velocity of information and extreme price swings that dwarf the relative stability of the early 2000s.

“When I go talk to any industry group right now, the phrase that I hear is ‘change fatigue’, and I feel that. Every couple minutes, something shifts,” says Trey Malone, Purdue University ag econ professor. “But to be clear, it’s not that the farm economy isn’t used to volatility, it’s just the uncertainty and the volatility now is, like, ‘hold my beer relative’ to the old volatility.”

Malone attributes this to layers of uncertainty created by global trade and policy. The rise of Brazilian production, coinciding with the disruption of U.S.-China trade relations, has created a permanent state of flux. This sentiment is reflected in the Purdue Ag Economy Barometer, which shares a higher correlation with the Small Business Index (.5) than with actual commodity prices. This suggests farmers view themselves primarily as small business owners facing broad economic pressures rather than just price-takers.

“We don’t see very strong correlations even with lagged soybean prices and corn prices,” Malone notes. “The world is more complicated than just looking at what happened in the market yesterday and gauging how farmers feel.”

Global Competitiveness and the Trade Reallocation

A primary concern for U.S. producers is their position as low-cost providers. While the U.S. maintains an infrastructure advantage that lowers the cost of getting products to export ports, Brazil continues to close the gap.

“It’s a fair question farmers ask a lot: Are we actually the ones who are the low-cost producers, and do we still have a place in the global market if Brazil continues to lower the cost of production and transport their grain to export terminals?” Davis asks.

However, Davis points out that global trade hasn’t shut off; it has reallocated. Only three global regions — North America, Latin America and parts of Southeastern Europe/Central Asia — are net exporters. The rest of the world remains net importers.

“While our trade has kind of shifted around ... that shift has really reallocated stuff in different places. Those calories and products end up going somewhere. It’s just a question of where,” he says.

The Shift to “Friend-Shoring” and Resilient Supply Chains

The industry is moving from “just-in-time” (hyper-lean) procurement to “just-in-case” (inventory-heavy) strategies, a lesson reinforced by the pandemic. This shift is accompanied by “friend-shoring,” where the U.S. prioritizes trade with geopolitical allies.

“We’ve gone from offshoring to onshoring to nearshoring to friendshoring,” Malone explains. “We’ve got a paper that’ll be coming out ... where we document friend-shoring in ag and food supply chains. Over the last 10 years, there’s been a shift where we mostly in the U.S. trade with other people who vote like us in the WTO. That’s kind of one way to measure friends.”

This resilience is also visible in crop protection. In 2019, 80% of active ingredients were sourced from China. Today, that is closer to 60%, with manufacturing shifting to India and domestic sites. Davis calls these “geopolitically resilient” supply chains.

The Rise of Generics and Decision Paralysis

The economic downturn is fundamentally changing the business model for input providers. Farmers are aggressively cutting costs, leading to a massive surge in generic usage.

“The latest survey I saw shows about 60% of farmers use generics today. That was about 30% to 40% just 5 years ago,” Davis says. This forces companies to pivot from differentiation to operational volume.

In the machinery sector, high costs and economic uncertainty have led to “decision paralysis.” Farmers are extending the life of their equipment, treating machinery replacement as the most controllable variable in managing annual ROI. Davis notes the U.S. ag equipment cycle is currently 15 to 20 percentage points lower than typical low points, driven by this hesitation. Furthermore, there is significant skepticism toward subscription-based technology models.

“Farmers don’t terribly love this idea, and I think the other interesting thought here is I’m not sure that retailers like selling them either,” Malone adds.

AI: The “Undergraduate Intern”

While artificial intelligence (AI) is a major talking point, its current role in agriculture is more supportive than transformative. Malone views AI as a “highly capable undergraduate intern” — useful for processing information but incapable of replacing the trust and risk management provided by human advisors.

“I don’t think you need to be replacing your agronomist. I think your mediocre agronomist just got OK,” Malone says, noting while LLMs can pass CCA exams, they cannot manage the risk of a wrong decision. “The risk management value proposition of an in-person Claude, or whoever, is probably going to win out because there’s still a risk.”

Currently, the adoption gap is wide: While 75% of agribusiness managers see potential in AI, only 4% have implemented it, according to a Purdue University survey in 2025.

Livestock and the GLP-1 Impact

The livestock sector is facing a unique demand shift driven by weight-loss medications (GLP-1s). This is leading to “premiumization.” As consumers eat smaller portions, they are opting for higher-quality cuts.

“The explosion in demand for protein is just shocking,” Malone says. “What GLP-1s do to that calorie count is they are all shifting toward premium cuts. You don’t care how much it costs because you’re only going to have seven bites of it. But you’re going to have a steak. That premiumization is going to really, really take off in the next 10 years.”

Conversely, the hype surrounding “fake meat” has largely faded, proving to be more of an investor-led phenomenon than a market-driven one.

Financial Stability: Not the 1980s

Despite the downturn, the financial health of the American farmer remains more stable than during the crisis of the 1980s. Currently, 10% to 12% of farmers are in a “tight” financial position , compared to 20% to 30% in the 80s.

“We do have a completely different, more professional ag workforce than we did back then,” Malone says. “The farm policy we have right now does not necessarily match what we need for the future, but all of these things make me think we’re in a much more stable position.”

Farmers have built-in “shock absorbers,” Davis adds, including off-farm income and working capital built up during the expansion years. However, in his research Davis has seen how alternative financing is becoming a major tool for the 50% of farmers who use it — either to manage stress or, for larger operations, to leverage relationships with retailers.

Strategic Reassessment: Winning at the Bottom

The experts agree the “bottom of the cycle” is the time for professionalization and upskilling. Surviving — and thriving — will require sharper management. It is an opportunity to reassess farm transitions and management disciplines, such as financial management, accounting and planning, which become critical in tight margins.

“Farmers are going to have to get smarter and get more creative with how they manage,” Malone says. “This is a good opportunity to take a step back and think about what the strategy needs to be moving forward.”

Davis emphasizes relationships are solidified during these periods: “Farmers are going to remember the folks who were around when they were in the bottom of the cycle, and who were there to support them. The best farmers will continue to get better ... I get excited about what we can look like as we come out of this cycle.”

So Is This Ag Cycle Different?

These experts say yes as every cycle presents its own unique reshaping of future opportunities.

To download the full report on why this ag cycle is different and what it means for your operation, click here .

The Shrinking Slice: Farmers Receive Less Than 6 Cents of Every Food Dollar

Tue, 31 Mar 2026 20:30:44 GMT

For the past two years, USDA has estimated farmers and ranchers received less than 6 cents of every food dollar. In 2023, that was 5.9 cents, and using the latest data from 2024, it’s 5.8 cents.

“Our oldest data point right now is 2007 [USDA updated the data series] and that’s 14.7 cents per dollar, and now we’re down all the way to 11.8 cents per dollar,” says Faith Parum, economist with the American Farm Bureau Federation. “So we’ve really seen that decline year after year. It reflects how much of the value of things in the grocery store or when you go out to eat is going to other parts of the supply chain and not necessarily to farmers and ranchers.”

Livestock vs. Crops: A Widening Gap

The aggregate decline masks a widening gap between sectors. While the overall farmer share is down, livestock and crop producers are seeing divergent trends:

Crop Farmers: Share dropped from 2.9 cents to 2.5 cents (a 2.5% year-over-year decrease).
Livestock Producers: Share increased from 3 cents to 3.3 cents.

“Overall, the farmer share is down. But we have those two markets really at odds,” Parum says. “We’ve seen that tale of two farm economies where our livestock producers maybe have seen a little bit of better days than they had had in the past, while our row crop farmers and our specialty crop farmers are really facing strong headwinds in the market.”

Effect at the Farm Gate

As highlighted by USDA, farm finances are quickly strained when farmers/ranchers are capturing a small percentage of the food dollar and even modest swings in commodity prices and/or input prices take place.

Parum adds, “when we talk about the health of our farms and the health of future generations on the farm, and being economically viable and sustainable and being able to keep their operations open, the trends we’re seeing right now are really hard for those farmers. Our ranchers are seeing a little bit of better days right now with high beef prices, but that’s not going to last forever, and with production expenses continuing to increase, we’re really going to see that that question come up of, what is sustainable if, if these dollars we’re spending in the grocery store aren’t making it back to our farmers.”

Where Does the Money Get Distributed?

The key takeaway: farmers produce the raw commodities that make food production, however, the price is clearly more determined by what happens after the products first leave the farm.

The USDA Food Dollar Series tracks how each dollar is spent by consumers and then divides it across the industries contributing to the value in the supply chain, such as farming, food processing, transportation, packaging, wholesaling, retail and food service. As noted by the USDA, with each step in the process, the additional services, labor, transportation and infrastructure add value and increase costs to the final food product.

USDA’s Economic Research Service Food Dollar Series shows in 2024, farmers received 11.8 cents of every dollar spent on domestically produced food, the remaining 88.2 cents of the food dollar went toward the ‘marketing bill’, which includes costs associated with food processing, transportation, packaging, wholesaling, retailing and food service. Over time, this shift illustrates how an increasing share of food spending is driven by services and supply chain activities rather than farm production itself.

Groceries Leave the Most on The Table For Farmers

Farmers’ share of consumer food spending varies widely depending on the type of food purchased. For example, the farm share of the food-at-home dollar was 18.5 cents in 2024, up slightly from 18.4 cents in 2023. But even in this category it means only than one-fifth of what consumers spend on groceries goes back to farmers.

As you may expect, products with minimal processing, require less of the value to be retained in that part of the food system, and therefore return a larger share of the food dollar to producers.

“The highest commodity that gets the most of that food dollar is fresh eggs,” Parum notes. “That’s just because there’s limited labor to process that food.”

Examples include:

Fresh Eggs: 69.1 cents (+6% from 2023)
Beef: 52.2 cents (+4.8%)
Fresh Milk: 50.8 cents (+5.6%)
Pork: 23.7 cents (+7.2%)
Poultry (+3.1%)
Fish (+2.8%)
Tree nuts and peanuts (-1.7%)
Fresh fruits and vegetables (unchanged)
Bakery Products: 4.8 cents (-9.4%)
Soft Drinks/Bottled Water: 1.3 cents (-7.1%)

The Succession Gap: Why Two-Thirds of Farms Face an Uncertain Future

Tue, 03 Mar 2026 20:18:08 GMT

Farm Journal recently reported that 44 million acres of U.S. farmland are expected to change hands in the coming years - nearly 15% of American cropland by 2030.

That’s a staggering number. But what concerns me most isn’t just the acreage. It’s what that number represents: leadership transition, ownership transition and decision-making transition happening all at once across the country.

When I look at the accompanying data, I see both opportunity and vulnerability.

According to the Farm Journal Seed & Planting Survey and Consolidation Index Predictive Model Analysis, only 34% of growing operations have a formal succession plan. Among benchmark producers, that number drops to 29%. For operations identified as at-risk, just 21% have a documented succession plan in place.

Let that sink in.

Even among farms positioned for growth, two-thirds do not have a formal plan for how leadership and ownership will transition. And nearly four out of five at-risk farms are operating without one.

At the same time, consolidation risk is not limited to smaller operations. Farms under $250,000 in gross income show a 58% consolidation risk. Farms between $250,000 and $500,000 show 48%. But even operations in the $1 million to $2.5 million range carry a 32% risk. And those between $2.5 million and $10 million still sit in a baseline consolidation risk zone of roughly 27–30%.

In other words, income alone does not protect you.

Succession gaps, management transitions and strategic exits are driving consolidation regardless of size.

I’ve spent my career working with agricultural families navigating generational transition, and I can tell you this: consolidation rarely happens overnight. It happens when pressure meets unpreparedness. A health event. A lender conversation. A market downturn. A disagreement that was never resolved. A next generation that was never fully developed or clearly empowered to lead.

Agriculture has always been unpredictable. We all understand that. Weather changes. Markets move. Policies shift. But what feels different right now is how layered the uncertainty has become. Interest rates have restructured balance sheets. Input costs remain volatile. Capital demands continue to rise. Technology expectations are accelerating. And the average age of the American farmer keeps climbing.

Generational turnover is not something we can push off for “someday.” It is happening now.

So, here’s the question I would ask any farm leader reading this: If something unexpected happened tomorrow, would your operation be okay?

Would there be clarity about who makes decisions? Would ownership be clearly defined? Would compensation and reinvestment policies be understood? Would lenders feel confident in your continuity? Would your successors be prepared - not just present - to lead?

If you hesitate in answering that, you are not alone. But hesitation is a signal.

The data in the Farm Journal analysis tells an important story. Growing operations are more likely to try new technology. They are more likely to plan land investment. And they are more likely to have formal succession plans in place. That is not coincidence. It reflects intentional leadership.

The leaders that plan tend to think about the long term - not just the next growing season. They understand their profitability by enterprise. They are disciplined about capital allocation. They define leadership roles. They have hard conversations before circumstances force communication. They build clarity into the business so that transition strengthens it rather than destabilizes it.

Succession planning is often misunderstood.

It is not simply an estate planning document. It is not a will tucked in a drawer. It is not something you address only when someone retires. It is a business discipline.

It requires clarity about management transfer and ownership transfer - and those are not always the same thing. It requires fairness, which is not necessarily equality. It requires governance structure so family conversations don’t become a business crises. It requires intentional development of the next generation so leadership transition feels earned and prepared, not assumed.

And perhaps most importantly, it requires timing.

Consolidation favors clarity. It favors farms that reduce ambiguity before outside forces expose it. It favors operations that are structured - not just successful.

One of the most revealing pieces of the consolidation data is that even higher-income farms carry measurable risk. A $3 million or $5 million operation is not immune. Scale does not eliminate vulnerability if leadership transition is unclear or strategic direction is undefined.

The 44 million acres projected to change hands represent a defining moment for American agriculture. Some families will use this season to strengthen continuity and expand. Others will find themselves reacting - not because they lacked work ethic or competence, but because they delayed putting structure in place.

Planning does not eliminate uncertainty - but it does provide framework and stability.

It allows you to make proactive decisions rather than reactive ones. It gives lenders confidence. It gives the next generation clarity. It protects family relationships. And it preserves optionality.

If your farm is truly okay - strategically aligned, financially transparent, leadership-ready - then planning becomes a growth tool.

If it’s not, planning becomes urgent.

Either way, it matters.

Knowing the data should never create paralysis. Understanding your consolidation risk, your succession gaps and your financial position gives you something incredibly valuable: choice. When your business structure is clear and your succession plan is thoughtful but flexible, you can pivot as markets shift, opportunities emerge or circumstances change. You may not be able to eliminate uncertainty - but you can position yourself to move through it with confidence.

44 Million Acres: The New Frontier of Farm Consolidation and Growth

Tue, 10 Feb 2026 18:00:32 GMT

At the 2026 Top Producer Summit , Farm Journal Intelligence unveiled new farmland insights derived from predictive modeling and deep-data analysis. The research focused on the shifting landscape of land acquisition, identifying which operations are at risk of consolidation, who is positioned for growth and where the most significant opportunities lie.

Here are the six primary findings for farm businesses:

1. Scale Does Not Immune Operations from Consolidation.

(Farm Journal)

While smaller operations face the highest risk — with 58% of small farms “at risk” for sale or acquisition before 2030 — size is not a complete safeguard. Research shows the risk of consolidation or ownership transfer never drops below 27%, even for the largest operations. Furthermore, crop diversity made minimal impact on these odds; the likelihood of transition remains constant whether a farm produces one crop or more than 11.

2. Geography Trumps Diversification.

(Farm Journal)

Regional location is increasingly becoming a primary driver of financial success, often outweighing the benefits of operational diversification. As regional market divides grow, farmers and ranchers are finding that local market conditions and individual circumstances dictate their trajectory more. State-level or even county-level effects are more indicative of their situation than national trends.

3. The 44-Million-Acre Transition.

(Farm Journal)

Nearly 15% of American cropland is projected to change hands within the next three years, driven by generational transfers, continued consolidation and economic pressures. Farm Journal data identifies the Midwest as the epicenter of this shift, with roughly 12 million acres likely to transition. Nationwide, that total reaches a staggering 44 million acres.

4. Mapping the “Sweet Spot” for Expansion.

(Farm Journal)

By plotting cost per cropland acre against the volume of land likely to transition, clear opportunities for expansion emerge. For producers looking to grow their footprint, the most viable opportunities are currently concentrated in Kansas, Texas, North Dakota, Missouri, and Oklahoma, according to this research.

5. Integrity Is the Top Currency in Rental Markets.

(Farm Journal)

When more than 400 landowners were surveyed about tenant selection, integrity ranked as the most critical factor. Interestingly, age was reported as the least important factor. For producers looking to secure rented ground, a reputation for character and experience outweighs both seniority and youth.

6. The “Willingness” Factor in Technology.

(Farm Journal)

Producers most inclined to expand share a common trait: a higher comfort level and rate of adoption with technology. Crucially, this is not necessarily tied to technical skill or existing expertise, but rather to mindset and action. The most growth-oriented producers are defined by their willingness to try new technologies rather than their current mastery of them.

Download the Full Report

Farmer Financials: From a Yellow Light to a Check Engine Warning

Fri, 30 Jan 2026 21:40:49 GMT

In 2025, the average size of loans for farmer operating expenses reached a record high (30% higher than last year) and pushed up lending volumes, according to the National Survey of Terms of Lending to Farmers. As noted by Federal Reserve of Kansas City Economist, Ty Kreitman, demand for farm loans has risen with tighter working capital, elevated production costs and higher cattle prices.

What is the outlook for on-farm finances?

USDA did not issue a farm income forecast in December, due to the government shutdown. With a pending update coming at the beginning of February, Meridian Agribusiness Advisors and Ag Access partnered on a farmer-facing survey to provide insights.

“There’s a group of farmers that are doing okay now, and I think that’s something for us to celebrate in the farm economy that farmers are being resilient through this period and finding opportunities, but there are others in our community that need help right now,” says Wes Davis Meridian economist. “It may look like if you’re looking at a traffic light it would be a yellow light. But, I would describe it more as a check engine light.”

Davis says from the recent survey, he can pull forward a divergence between those farm businesses focused on row crops and livestock.

Whereas 56% of livestock farmers in their survey said their working capital situation was very strong or somewhat strong, only 43% of crop farmers said the same.

About that same range for both groups say working capital is tight or very tight.

“There is that group of farmers, 10% to 15% of them, that are challenged with working capital,” Davis says. “They are questioning if they can stay in business this year.”

Mike Mostransky of Ag Access shares the survey had national representation but about 70% of respondents were from the Midwest.

For 2026, the survey sponsors say profitability expectations are factoring into two developments:

A change in behaviors for operating expenditures
Further erosion of working capital

“Farmers who are in challenging times look for help from their input providers, their financial service providers and other,” Davis says. “Farmers are asking them questions like: ‘How can I adjust what I’m doing without compromising my yield and my financial outcomes?’ And they’re looking for a thought partner that can help them with that.”

For row crop respondents, the top actions to preserve operating expenses were listed to be: switching to generics, reducing field passes, reducing or delaying fertilizer rates, and changing crop rotation.

“There’s a position right now that they don’t know what they don’t know, and they’re not about to take the risk.” Mostransky says. “It’s clear farmers are more focused on machinery repair rather than replacement. And they are saying things like, ‘give me your best price the first time, because you won’t get a second or third time.’”

Meanwhile, livestock farmers are more likely to be positioned to see opportunities with expenditures such as herd expansion, investing in genetics, low-inclusion feed additives and animal health products.

Click here for the latest report from the Federal Reserve of Kansas City.

How the $15 Million Estate Tax Exemption Changes Your Farm Succession Strategy

Mon, 26 Jan 2026 20:01:11 GMT

The world of estate planning for farmers has changed dramatically after the passage of the One Big Beautiful Bill Act. This permanently increased the lifetime gift and estate tax exemption to $15 million indexed starting Jan. 1. With the federal estate tax exemption at historically high levels, most family farms are no longer at risk of paying federal estate tax. However, this shift has brought a new focus to income tax planning and the importance of preserving the step-up in basis at death.

Understand the Step-Up in Basis

When a person passes away, the value of their property is generally reset to its fair market value at the date of death. This is known as a “step-up in basis.” For farm families, this is a crucial benefit. Farmland and other agricultural assets often appreciate significantly over time. If heirs inherit these assets, they receive them at the new, higher value. This means that if they later sell the property, they will owe little or no income tax on the appreciation that occurred during the original owner’s lifetime.

Why Estate Tax Is Less of a Concern

With the current high exemption, only the largest farm estates face federal estate tax. For most families, the bigger risk is not estate tax; it’s the potential for large income taxes if the step-up in basis is lost. This can happen if assets are given away during the owner’s lifetime, rather than being passed on at death.

The Pitfalls of Lifetime Gifting

Many farmers consider making large gifts during their lifetime, worried that the estate tax exemption will drop in the future. While this can be a good strategy for very large estates, it can be costly for smaller farm operations. When assets are gifted during life, the recipient takes over the original owner’s basis, which is often much lower than today’s value.

If the recipient later sells the property, they could face a significant income tax bill. In contrast, if the property is inherited, the basis is stepped up to current value, minimizing or eliminating income tax.

Likely the best asset to gift during lifetime is farmland that will be retained in the family for multiple generations. The step-up in this case is not as valuable because we can’t depreciate farmland, and if it is not going to be sold, the heirs are not worse off. Plus, appreciation in farmland can be very volatile and could cause the farm couple to owe estate tax.

Hidden Cost of Gifting Negative Capital

Many farm operations are structured as a partnership for income tax purposes and farms with debt will typically create what is called a negative capital account and, in many cases, this can easily exceed $5 to $10 million for larger farm operations. Gifting any interest in these partnerships during a lifetime will create ordinary income to the farmer because the “debt” eliminated exceeds the basis in the partnership’s assets, which is typically zero. Whereas holding until death eliminates the tax for their heirs. However, a drawback is that the older generation might still be on the hook for the debt until they pass.

For the vast majority of farmers, estate tax planning is now about smart income tax planning. Preserving the step-up in basis at death can save heirs substantial taxes and help keep the family farm in the family. Careful planning today can help protect your family’s legacy for generations to come.

Paul Neiffer has been tracking the latest in tax policy and government programs. Learn more about what you should factor into your farm business and potential tax implications at Top Producer Summit, Feb. 9-11 in Nashville. View the agenda and register today !

Winter-Proof Your Workforce: Keeping Employees Warm on the Job

Thu, 22 Jan 2026 14:52:23 GMT

What started as a mild winter is bound to become brutal as plunging, dangerous temperatures sweep across much of the U.S. While most of the country will stay bundled up inside, farmers and their employees don’t have the luxury of skipping work for a snow day.

To create a safe and comfortable work environment for your farm employees, it’s important to address the specific challenges posed by cold weather on the farm. As temperatures begin to drop, consider implementing the following tips to keep your crew safe, warm and productive:

Make Sure They Have Adequate Clothing

Dressing poorly shouldn’t be considered “cool,” especially when it comes to harsh winter weather conditions on the farm. However, not all employees know how to appropriately dress for the bitter weather. Consider providing them with the following checklist and keeping a few extra items in a bin for employees to use in case they forget.

Some examples of warm winter clothing include:

Lined jackets
Lined overalls
Stocking caps / hats and lined gloves
Long thermal underwear
Lined boots – waterproof and anti-slip
Wicking wool socks
Scarf

Provide Warm Break Areas

Working out in the cold can take a toll on the body. That’s why it’s necessary to take frequent breaks to rest and warm up. To keep employees going, be sure to create designated warm break areas for your employees to recuperate.

Offer snacks that are not only tasty but also provide energy. Nutritious options like trail mix, energy bars, and fruits can help replenish energy levels. You can also supply a selection of hot beverages like coffee, tea or hot chocolate. If employees are coming in from wet or snowy conditions, consider having a designated area with a drying rack for wet outerwear, gloves, and boots.

Adjust Schedules

Adjusting schedules in the winter is a practical strategy to address the challenges and potential hazards associated with cold weather. Along with allowing more frequent breaks to prevent prolonged exposure to the cold, consider scheduling more grueling outdoor tasks during the warmer parts of the day.

Keep Up Communication

Safety concerns rise as cold weather intensifies. This rings true for not only our employees, but livestock as well. Keep the lines of communication open with employees to address concerns and gather feedback on their comfort and to learn if areas of the farm need immediate attention.

Work in Pairs

While farmers are already hard-pressed to find labor, working in pairs allows employees to get the job done quickly and safely. Using the buddy system ensures that every employee is accounted for and that the work gets done in a timely fashion. This system is especially important for employees working in remote areas.

Have an Emergency Kit

Winter weather can be unpredictable. Having an emergency kit in a well-known location can be a lifesaver when it comes to coping with unexpected challenges. Keep your kit filled with the essentials, such as:

Medical supplies
Extra clothing
Blankets
Handwarmers
Flashlights
Non-perishable snacks

Know the Signs of Cold Stress

Hypothermia and frostbite are the two most common forms of cold stress and can be fatal if left untreated. To help minimize the risk of these conditions going unnoticed, make sure to review and be on the lookout for the following symptoms.

Signs of Hypothermia:

Fast and shallow breathing / trouble breathing.
Going from shivering to not shivering.
Hunger, fatigue and confusion.
Lack of coordination.
Increased heart rate.
Weak pulse.
Slurred speech / mumbling.
Dizziness and nausea.

Signs of Frostbite:

Cold skin, prickling feeling and numbness.
Red, white, bluish-white or grayish-yellow skin.
Hard or waxy-looking skin.
Clumsiness due to joint and muscle stiffness.
Blistering after rewarming when severe (expect exposed skin to peel off).
If the skin turns black seek medical attention..

From Wall Street to the Texas Ranch: 2025 Women in Ag Winner Kimberly Ratcliff Transforms Beef Production

Wed, 21 Jan 2026 20:11:20 GMT

There are 1,500 miles between Brooklyn, N.Y., and Oakwood, Texas, but for Kimberly Ratcliff, where she grew up and where she’s building her business are connected by community, family and giving of oneself. Today, she works as ranch manager at Caney Creek Ranch and CEO of Ratcliff Premium Meats.

“I’m a businesswoman trying to keep agriculture alive,” she says.

As a shining example of an advocate and agricultural innovator, Ratcliff was named the 2025 Top Producer Women in Ag Award, sponsored by NewLeaf Symbiotics.

“Day to day, I work on the ranch, raising the cattle or expanding the profit lines on the ranch,” she says.

The 2,500 acre ranch was first started with a smaller acreage purchase by her father, Wesley, in 1973 that expanded in 2002.

Business Builder

Five years later, Ratcliff left her career in New York City to join the ranch and work with her father and build their business bigger. Her brainchild, Ratcliff Premium Meats was born.

“My biggest role today is to make Ratcliff Premium Meats flourish, and I want to be more than a meat company,” she says.

Her goal was a social impact company; Ratcliff had the vision for the meat business to bring economic stability and growth while connecting consumers to their meat supply. The bridge she is engineering builds concrete connections with customers, educates them on what it takes to produce nutritious beef while simultaneously creating economic value for the community.

“One of the ways I can help my community grow and sustain their businesses is by buying their animals and selling them through Ratcliff Premium Meats,” she explains. “It’s about telling the true meaning behind where meat comes from and telling the story of the people in the community. I’m not all natural; I’m not organic; I’m not grass fed. I have the economic value of the producers in my community. I want my meat company to be known for that.”

On the supply side, she’s built a network of about 30 cattle producers, of which about 80% are Black or minorities. She monitors incoming orders, surveys producers for animal condition and coordinates with the slaughterhouse schedule.

She’s gone to work to build out markets for the meat, quickly growing beyond farmers markets. Today, the business accepts online orders, has a growing distribution direct to restaurants, contracts with school districts and regularly supplies the local food banks. Ratcliff is now a vendor for Buckhead Meats as well, and in 2025, Ratcliff Premium Meats brought 20,000 lb. of its beef into Texas.

“Ground beef production makes efficient use of cattle selected specifically for grinding, ensuring consistency and quality,” Ratcliff explains. “It’s one of the most stable and dependable categories to source. If I process 20 head one week, I can take a certain volume of the ground beef into the schools, and then have the availability for the other cuts on the website.”

Admittedly, her biggest challenges have been on the distribution side of the business.

She’s successfully forged relationships with the school districts serving Austin and Houston, which includes not just hamburger patties but also giving students presentations on beef production and ranch management.

“That’s the kind of connection I want,” Ratcliff says.

Working with the Feeding Texas’ Local Food Purchasing Assistance program, she’s supplying 8,000 lb. of ground beef about every other week to the Houston Food Bank.

Ratcliff has also dedicated time to doing pop-ups and restaurant events in metro areas including Harlem, Baltimore and Atlanta.

“I’m not concerned about being in grocery stores, and I’m not concerned about being global,” she says. “But if I am in grocery stores and I am global, I want you to know I’m impacting this community. That’s more important to me than worrying about being on the grocery store shelf.”

At this time and juncture in the business, she says she’s not quite the scale that larger distributors seek out, but she’ll continue to be proactive with brand awareness, building relationships and in carving out a spot for her product in the market.

“Our story is about how a business can survive in a community that has a population of 700 people, how it’s thriving and how it’s feeding the world,” she says. “In 10 years, I do believe we will be this company people will look at of saying how rural America looks.”

Finding Her Way

Ratcliff’s journey took a bit of a U-turn in 2007. After seven years at Bloomberg in New York City working in the company’s public relations division, her heart and imagination called her to Texas.

“I saw a need to bridge the gap from the source of our food to the consumer,” she says. “I couldn’t build that bridge in New York, but I could from the ranch.”

Ratcliff says she was welcomed home, but her approach to bringing change to her father wasn’t always received well.

“It took me six months to realize I was doing it wrong,” she says. “I was pushing so hard against the ways he’s done things, but I wouldn’t have the opportunity to build something without what he did and the way he does it. I was bringing change the wrong way.”

Instead, she took a new approach.

“I asked dad to give me a piece of something — let me show him myself. What I’ve learned is the next generation will have to do a lot of show and tell,” she says. “My dad said, ‘As long as you can show me it’ll work, I’ll be your biggest fan.’”

Now more than 15 years later, Ratcliff not only has her father’s full support, but she has also brought in both her brothers part time.

“I’m all about this being a family affair. If we didn’t have family involved in what I do every day, it wouldn’t feel purposeful. That’s something, dad always made me involved in his business every day — no matter what it was. Then your life is personal, and you know you have a purpose.”

Ratcliff acknowledges her mother’s influence and lasting impact on her since her passing in 2019.

“Really from mom I got my outgoingness, socialization, strength and frugalness,” Ratcliff says.

Ratcliff explains while she first saw the opportunity being a non-for-profit, she’s incredibly proud of what she’s built with the business and the social impact it has had.

“What began as a personal venture has grown through shared experience, beyond its original scope,” she says. “Over time, the business has become something built on experience and collaboration, supporting the people and families in this community.”

What It Means To Advocate

Representation and reputation are the foundation of Ratcliff Premium Meats. CEO Kimberly Ratcliff says it’s the story behind her product that has led to its success.

“Agriculture is often undervalued, especially the unique challenges of small family farms and minority farmers,” she says. “This is particularly true for underrepresented communities like Black farmers and ranchers.”

That is what has led her to serve in roles on USDA advisory councils, steering committees with Texas A&M AgriLife, Capital Farm Credit advisory committee, the Independent Cattlemen Association officer role as the treasurer, and more.

“Advocacy is essential because it directly impacts the livelihoods of families, the food system and sustainability of communities,” she says.

This fall, her perspective and voice were shared in a documentary film produced by Jordan Peele’s Monkeypaw Productions. She is featured in, “High Horse: The Black Cowboy,” which is currently available on Peacock.

“The producers found me and my story on social media,” she says. “It was important to me to share what I’m building, and the story is deep and rich. I understand the history, and I’m coming home — I want to be the uplifting part of the story.”

Marketing Maven

With her education and professional background in marketing, Ratcliff brought a distinct set of instincts and skills to her entrepreneurism. Her vision was to build an inter-related, community-built business as being stronger than stand alone or isolate entities.

“In the ag community, I need your cattle,” she says. “I need you to keep your land. I need you to have healthy cattle, I need you to have great grass, great soil, I need you to have all those things that will make me successful. So how can I help you with your success so as the end result we can produce great meat?”

Ratcliff sees her role as the storyteller, and she knows she has a unique story to tell. When she first arrived at the ranch, she says neighbors would stop by just to see that in fact she had ‘come home.’ She turned that curiosity into a way to engage the community.

“We threw a lot of parties on the ranch to bring people together, and then we’d do small projects like catch calves, fix fence, fix waterers,” she says.

Ratcliff says how to network was ingrained in her early on.

“My parents never hid what it takes to be a successful business owner,” she says. “And it was about being fair to your employees, investing in your community and giving back.”

To strengthen her knowledge of the industry, Ratcliff enrolled at Texas Christian University’s ranch management program and became its first Black graduate.

“I wasn’t raised here; I don’t know it all,” she says “I’m a bridge builder. I thought of a great idea in running a business, and I have an ability to bring people together.”

And she has found leaning on others’ strengths while letting go of some previous responsibilities has been a balancing act in her leadership.

Roles she’s released includes fulfillment, HR, and even her legacy strength: marketing.

“I hired a marketing firm, and every Tuesday morning do meetings,” she says. “Anyone from my team can be on the call, ranch hands, anyone. That’s my opportunity to connect everyone because they can ultimately help with marketing.”

Ratcliff has also built her social media presence to share the story of beef, its nutrition and preparation ideas. Once a quarter, marketing contractors visit the ranch to film social media content.

“I’d never been on TikTok, but my marketing partners convinced me to try it,” she says. “Our video about the Women in Ag award got more than 100,000 views, 1,000 comments and we got 30 orders for meat.”

(Brayden Crook Photography)

Authentic Self

Ratcliff describes herself as a woman trying to change the way farming looks.

“All I can do is be my authenticate self,” Ratcliff explains. “There’s an importance of putting a woman like me in front of the story of these producers.”

She adds: “Agriculture is going to look different, and we need to accept the changes. Just like life evolves, agriculture will evolve.”

Join a network of leading edge farmers and producers at Top Producer Summit, Feb. 9-11 in Nashville. To kickoff the conference, the 2026 award finalists and winners will be honored. Click here to view the agenda and register.

Farm Journal Announces 2026 Top Producer Award Finalists

Tue, 16 Dec 2025 19:12:54 GMT

Farm Journal has announced three finalists for the prestigious 2026 Top Producer of the Year Award, honoring some of the most progressive and successful farm operations in the country. The winner and finalists will be formally recognized at the 2026 Top Producer Summit , agriculture’s premier executive-level conference for elite farmers and ranchers, which is set for Feb. 9-11 in Nashville, Tenn. Also presented at the event will be the Next Generation Award and Women in Agriculture Award.

“The Top Producer Awards celebrate operations that are building resilient, innovative and future-focused businesses,” said Margy Eckelkamp, brand leader of Top Producer. “These finalists and award winners represent the very best of modern agriculture: strong family leadership, diversification, technology adoption and an unwavering commitment to excellence.”

2026 Top Producer of the Year Award Finalists:

Alsum Farms, Friesland, Wis. – A multigenerational family operation producing potatoes, pumpkins, hay, alfalfa and other rotational crops across more than 3,600 acres. The business is fully vertically integrated, overseeing production, packing and marketing. Leadership spans generations with the founder serving as CEO since 1981 now working alongside his two daughters who hold leadership roles in the business.

Dalton Farms, Wakeman, Ohio – A seventh-generation family farm led by Rebecca and Edward Dalton. The operation includes 2,000 acres of corn and soybeans, a 400-head cattle herd with direct-to-consumer beef sales and a growing on-farm market offering locally-sourced chicken, pork and maple syrup. Their story reflects both diversification and successful generational transition following a family split in the 1990s.

Splitter Farms, Sterling, Kan. – Led by Matt and Janna Splitter, this Kansas row-crop operation spans 1,400 owned acres with nearly 18,500 acres farmed annually through cash rent and custom work. After the sudden passing of Matt’s father in 2010, the couple returned to the farm and scaled the business using data-driven decision-making, strong landowner relationships and disciplined business management. Notably, this marks the first time a previous Next Generation Award winner has advanced to a Top Producer of the Year finalist.

The 2026 Top Producer of the Year award is sponsored by BASF and Fendt.

2026 Next Generation Award Winner

Tim Nuss, El Dorado Hills/Lodi, Calif., is the 2026 Next Gen Award winner. Nuss farms garlic, tomatoes, peppers, melons, herbs, pumpkins, cucumbers and grains with his father and brother while also building a powerful off-farm ag influencing business. He serves as CFO of Nuss Farms. He’s also head of business development at Polaris Energy Services, an ag tech irrigation company, hosts the “Modern Acre” podcast, and recently co-launched AgList, an online biologicals review and ratings platform designed to bring transparency to the ag inputs marketplace.

The 2026 Next Generation Award is sponsored by Pioneer and Fendt.

2026 Women in Agriculture Award Winner

Helle Ruddenklau, Amity, Ore., is the 2026 Women in Ag Award winner. Ruddenklau Farms in Oregon’s Willamette Valley, growing grass seed, wheat, vegetables, peas and hazelnuts. Originally from Denmark, she immigrated to the U.S. at age 15, later meeting her husband, Bruce, while on an exchange program in New Zealand. In addition to serving as CFO of their farming operation, she is deeply involved in ag advocacy and economic development, working through organizations such as Oregon AgriWomen, AgLaunch and SEDCOR to strengthen regional agriculture through supplier and industry partnerships.

The 2026 Women in Agriculture Award is sponsored by Pro Farmer.

All finalists and award winners will be recognized on stage for their excellence in the business of farming at the 2026 Top Producer Summit, where the nation’s best producers gather to advance leadership, management, technology adoption and succession planning in agriculture. Learn more about Top Producer Summit and Top Producer of the Year awards at tpsummit.com.

Will Congressional Inaction Force Farmers to Choose Between Health Insurance and Their Farm Budget?

Tue, 16 Dec 2025 00:29:25 GMT

Healthcare insurance plans for some U.S. farmers could double in 2026, as enhanced federal subsidies under the Affordable Care Act (ACA) are scheduled to expire.

The impending cost surge could affect thousands of U.S. farmers who currently rely on the ACA marketplace for their health insurance, according to the non-partisan KFF (formerly Kaiser Family Foundation), a health policy organization.

KFF estimated in 2023 that 27% of “farmers, ranchers, and other agriculture managers” relied on individual ACA market coverage. Nationally, more than 22 million Americans rely on the ACA marketplace for insurance options.

Farmers ‘Don’t Have Many Options’
Iowa farmer Aaron Lehman, who testified before Congress last week, highlighted the severity of the potential cost increase on his family. He said he expects to pay double to purchase an insurance plan for 2026 that would be comparable to what his family had this year.

“That is an incredible cost for our family budget and for our farm budget,” Lehman stated. The fifth-generation farmer and president of the Iowa Farmers Union described how rising healthcare costs are colliding with already harsh economic realities in agriculture.

“Farmers right now are trying to make all sorts of decisions because commodity prices are low, because of the chaotic trade situation that we’re in and higher input prices. All these things have made a real crisis for a lot of our farmers,” said Lehman.

“Finding ways to deal with that, we just don’t have too many options. Farmers will buy less equipment or not make the necessary upgrades and equipment that they need to,” he added. “They’ll look at their input suppliers, and they’ll decide, ‘what can we do to get through just this year … to get a plan to put the crop in the ground?’”

Read the testimony of Aaron Lehman here. A portion of his testimony and discussion is also featured on a posting to YouTube .

Signup Deadlines For Coverage
The challenge for farmers trying to decide on what insurance policy to purchase is compounded by the deadline to enroll in ACA marketplace plans: People needed to choose their ACA plan by Monday for coverage to begin Jan. 1. Open enrollment continues in most states until Jan. 15 for coverage beginning Feb. 1.

Despite broad public support for an extension to the ACA tax credits — a KFF poll said 74% of Americans favor continuing the enhanced credits — a congressional standoff has so far failed to produce a solution:

Failed Votes: Both a Democratic plan to extend the enhanced tax credits for three years and a Republican proposal to replace them with Health Savings Accounts (HSAs) failed to pass the Senate last week.
Impending Crisis: Nearly six in 10 enrollees (across all categories) told KFF they could not afford even a $300 annual increase in 2026 without significantly disrupting household finances.
Political Fallout: The issue of healthcare costs and expiring subsidies is highly polarizing, with some Republicans warning that a failure to address the problem could cost them legislative majorities in next year’s mid-term elections.

As the deadline for open enrollment closes and the Dec. 31 subsidy expiration date approaches, farmers must prepare for substantially higher health insurance costs in 2026 unless Congress acts to reach a last-minute agreement.

Young Farmers Need Better Options
During his testimony and ensuing discussion, Lehman stressed that healthcare isn’t just a personal household issue; it’s central to the future of American farming. With the average age of an Iowa farmer at 57, he said the sector desperately needs young and beginning farmers to return to the land. But without affordable, reliable health coverage, inviting the next generation back onto the farm becomes a far riskier proposition.

“You have to be very smart to figure out the plan that can bring the next generation on the farm,” he said, adding that many talented, innovative young people want to farm, but face daunting financial barriers — healthcare high among them. He noted that one of his sons works with him on their family operation, which is based in Polk County, Iowa.

Lehman framed affordable healthcare for farm families as an investment, not a handout: a way to make it possible for young farmers to feed their communities, support local and regional food systems, or continue larger family commodity operations.

“Extending the federal support for lowering the cost of health insurance is a true win for farmers and for all of rural America,” he said.

One Farmer's Idea to Avoid Yellowstone Drama When Transferring the Family Farm

Tue, 25 Nov 2025 15:15:23 GMT

At 8 cents a pound, pigs weren’t worth much when Todd Wiley formed Interstate Swine LLC with his dad in 1998. Nobody wanted weaned pigs. Facilities quickly became available as people left the pork industry. With a sincere desire to make a living raising pigs on his family’s farm, Wiley stepped out in faith. Nearly 30 years later, this multi-generational farming endeavor in eastern Iowa has survived some of the toughest times and some of the best times.

Maybe that’s why Wiley has taken a unique approach to bringing the third generation back to the farm.

“There’s no doubt that family is important to Todd,” says Pat McGonegle, CEO of the Iowa Pork Producers Association. “He puts family first, and the farm is a part of that discussion. He manages his family members that are part of that farm in a real professional way, but also with an eye towards the legacy that he and Denise want to leave on their farm.”

Would This Be Good For My Kids?

Growing up, Wiley’s parents talked about succession planning often with their three sons. The concept of planning for the generational transfer of the family farm came naturally to Wiley.

“When we started Interstate Swine, we needed to hire employees,” he says. “One of the things I was conscientious about was making sure the employment opportunity within our business would be conducive to our children filling those roles.”

From the beginning, Wiley instituted health insurance plans, matching IRA funds, paid time off, paid vacation, and other benefits that employees would typically look for when securing a job.

“I constantly asked myself if this would this be good for my kids someday?” he says.

Wiley and his wife, Denise, have four kids: Drew, a Kansas State University animal science graduate and former K-State Football defensive tackle; Isaac, an Iowa State University agribusiness graduate now employed with Ever.Ag; Emma, owner of Auntie Em’s - Event Florist and attended Des Moines Area Community College; and Joshua, a junior at Iowa State University in animal science.

In 2017-2018, the Wileys doubled their sow farm to create more opportunities for the children to have a place on the family farm.

“It was a fairly tedious process – not only from a business standpoint, but about what the next generation was going to do,” he says. “They were all too young back then, and there was no way I could ask them for any sort of commitment to our business. But I did ask a lot of professionals. I remember asking our accountant specifically, ‘In your experience, what is the likelihood of a farm family having the next generation be involved, providing you have a viable business?’”

The accountant’s response was, “It’s pretty high.”

“Denise and I knew we needed to have some economies of scale,” Wiley explains. “There’s not much point in succession planning, if there’s nothing to succeed to or succeed with. We were mindful of that when we moved forward. Now, we have room for additional people, not only for labor, but also in management where we can utilize their skills.”

No Yellowstone Drama Here

As a family, it is easy to recognize each other’s strengths as well as quirks, he points out. But he wanted a better way to evaluate his children’s strengths and weaknesses, as well as interests, on the farm.

“I remember when a successful family in eastern Iowa, with a number of businesses, built a feed mill and elevator,” Wiley shares. “The father of this family passed away unexpectedly. Come to find out, nobody in the family had any interest in this feed mill and elevator, so they end up selling it.”

This hit Wiley hard. What would his kids say about where their farm was investing capital? That sparked the construction of a succession planning instrument for the Wiley family.

(Lori Hays)

“The first page of the instrument (an Excel document) started two years ago with a list of 35 jobs that need to be done on our farm,” Wiley says. “Most of them are pig related, but we do crop farm some. It was pretty much everything I was doing in a spreadsheet.”

Each of their children (and one daughter in-law at the time) was asked to rate those 35 jobs from one to five under this scenario: It’s 2033 and Todd and Denise are serving in an advisory role only. You choose to be an active employee of the family businesses. Please answer by circling the corresponding number that best describes your interest in the listed activity.

“It was interesting to see who had interest in what, but it also told us pretty clearly where we needed to go in the future if we wanted our children involved in our business,” Wiley says. “Initially, I think they saw it as a fun activity, just another of Dad’s crazy ideas. But I learned a lot.”

This past summer, the family completed the exercise again.

“I needed to see if the kids were drifting in their interest,” he says. “In one case, there was significant movement in what one of our kids wanted to do. It surprised me to be truthful about it. In the other three cases, they held true to what they thought two years previous. But bear in mind, our youngest was a freshman in college two years ago and a lot can change in college.”

Wiley emphasizes that nobody is required to come back and be involved in the operation. He says there are a million ways to make a living out there and he wants his kids to pursue their dreams. In the version his family filled out in the summer of 2025, he added a second page with 45 statements.

“If you’re going to work with people in a business and a family in any organization, even if you’re not related, you need to have some idea of where they’re coming from,” Wiley says. “On the second page of statements, they were asked to rank their level of agreement with the statement.”

For example, one of the statements was: No matter what I may think of a family member’s job performance, I’ll always have their back publicly.

“If you’ve ever watched Yellowstone, that show creeped me out,” Wiley says. “When I saw the family dynamic portrayed, it made me uncomfortable. We can have our disagreements. But, as a family, you better have each other’s backs out in the community, especially in the business we’re in.”

Getting Out and Getting In

This instrument has been helpful for the Wileys in many ways as they prepare to transfer more of the farm to their children.

“It sheds light on areas where their belief system parallels ours,” he says. “We have a definite place of emphasis now. Our children have a pig feeding business called Fourth Gen Hogs LLC, where they’re each 20% owners, Denise is a 10% owner, and I’m a 10% owner. It has been a great exercise in giving them the responsibility of ownership.”

He says the timing mirrors the situation he was in when Interstate Swine was formed.

“They got in about a year ago when it was pretty doom and gloom. We went to the bank with this idea, and they’re like, ‘You want to do what?’”

He believes this business venture will be the vehicle for he and his wife to exit pig ownership as their children get into ownership.

“Uncle Sam would have his way with us if we sold out all at once,” Wiley says. “But if we can gradually exit individual barns or individual parts of our production flow and have them enter into it, that’s a fairly nice segue for us to get out and them to get in.”

Wiley shares more about his mini adventure raising rabbits, opportunities for talented young people back on the farm and the message he hopes pork producers hear right now and more on The PORK Podcast. You can watch it here on YouTube or listen anywhere podcasts are found.

Watch more episodes here.

How to Get a Loan Approval: A Banker's Point of View

Tue, 18 Nov 2025 20:28:26 GMT

For most farmers, the next big project on the operation starts with a conversation with your banke, and being fully prepared before you walk into that meeting can significantly increase your chances of getting a loan approval.

Curtis Gerrits, senior lending specialist at Compeer Financial, has spent years helping producers get the financing they need. During a recent Professional Dairy Producers webinar, he shares what truly makes a loan application stand out and how farmers can set themselves up for a smoother approval process.

Get Your Financial House in Order
When preparing for a loan, Gerrits emphasizes lenders look first at clear and complete financial documentation. The process begins with the fundamentals.

“Some of the documents that are top of mind are your profit and loss statement,” he says. “Don’t just stick with the current year. Try to have access to the last three years.”

A profit and loss statement not only establishes whether a business is profitable but also helps lenders understand how the farm manages revenue and expenses over time. Gerrits encourages farmers to follow this with a current balance sheet that breaks down assets and liabilities in detail.

This balance sheet should include livestock numbers, acres owned and leased and a complete equipment list with updated values. Together, these documents paint a picture of financial health and management discipline.

For long-term planning, Gerrits stresses the importance of forward-looking projections.

“Probably one of the last things is to have a detailed projection,” he adds. “What is the business plan, and how is this going to impact your business?”

These projections help both the producer and the lender understand how an expansion, land purchase or capital improvement will affect cash flow and operational stability in the years ahead.

Details Matter
Gerrits says one of the most common pitfalls he sees is overlooking the finer points of financial reporting. Accurate and transparent records build trust and demonstrate professionalism, giving lenders greater confidence in the producer’s decision-making capacity.

“The attention to detail is probably a key thing that maybe gets overlooked from time to time,” he explains.

A lender needs to see exactly what makes up the operation’s income. This could include crop sales, livestock sales, custom work, direct-to-consumer revenue or any other streams that support the business. Clear categorization helps verify performance and gives lenders a better understanding of how the farm is managed.

Build a Strong Relationship
Beyond the numbers, Gerrits stresses the importance of working with a lender who understands the realities of farming. A loan officer familiar with agriculture can better interpret financial statements, spot trends and anticipate challenges.

“Working with a loan officer that understands your day-to-day is really important,” he says. “Having that good relationship where you can bounce ideas off of one another is a really great thing.

Gerrits also encourages producers to bring their lender onto the farm. Sometimes a walk-through can communicate more than a financial packet ever could.

“Put your boots on and take a walk through the barns and show them what you are doing and why the loan application that you are requesting is important,” he says.

Seeing the animals, the facilities and the workflow helps lenders fully understand the operation’s strengths and opportunities, and it gives them greater clarity when evaluating a loan request.

Be Honest About Tough Years
Producers should not shy away from acknowledging difficult financial periods or reporting losses on taxes. Gerrits reassures farmers that losses do not automatically disqualify them from financing.

“Do not get too hung up on the losses out there,” he explains.

A balance sheet can often show how those losses are supported or offset by strong assets, such as land, livestock or equipment equity. What matters most is transparency and context. And demonstrating that you have a plan to manage challenges and leverage your assets can build confidence with your lender.

Plan for the Future
Constant communication with your loan officer can make a big difference in the approval process. Gerrits says checking in periodically, even with a quick touch base, helps avoid surprises.

“Maybe you’ve already talked about: ‘Hey, in a couple of months we might have something come in, and I’m going to have a request for an operating line of credit,’” he says. “That way it’s already in the back of the loan officer’s mind, and they can start preparing or gathering the right information.”

A little preparation can also greatly speed up the loan process. Gerrits recommends giving your loan officer about one month of lead time before funds are needed, along with complete financial documents.

“At the end of the year, we’ll see some borrowers who need to borrow money to do some prepaids to help their tax situation,” he says. “It’s hard to turn things around because a lot of folks are coming in at the last hour. If you give them a month’s lead time with all of the information pertinent, all the financials and balance sheets, that will just help expedite it.”

Looking further ahead, Gerrits encourages producers to think generationally and begin planning for succession well before retirement becomes imminent.

“It is never too early to start a succession plan,” he says.

Early planning gives the next generation clarity about future roles and expectations, helping them prepare financially and personally for the responsibilities that lie ahead.

Own Your Numbers
Ultimately, Gerrits believes successful borrowers take responsibility for knowing and understanding every aspect of their financial position.

“Know your numbers first,” he says. “Don’t just rely on your loan officer to tell you how you are doing.”

Throughout the loan process, preparation and transparency go a long way. Clear financials, attention to detail and regular communication help your lender understand your goals, while on-farm conversations and honest discussions build trust. Being organized, consistent and informed does more than streamline an application, it helps you make better decisions, catch issues early and keep the operation moving in the right direction.

Bitcoin Set to Revolutionize US Agriculture?

Tue, 04 Nov 2025 15:25:41 GMT

Pebble to landslide, Bitcoin is approaching agriculture and its impact will be seismic, echoing the benchmarks of farming history, including cotton gin, steel plow, mechanization, and biotech crops. Or will it?

Only 10 years back, on the turnrow or at the seed house, the mention of Bitcoin elicited mockery. Five years back, laughter. Now? The derision is replaced by inquiry.

Cryptocurrency, as a store of value to a medium of exchange, is on an economic collision course with agriculture, set to change American farms forever, contends a growing chorus of voices within the ag chain.

“Bitcoin is an absolute agriculture necessity going forward,” says producer Zack Smith. “People just don’t realize it yet. Soon, they will.”

First Bird to Fly
Bitcoin was created in 2009. In the eyes of critics, it was a lie agreed upon, or a pyramid built to topple. However, 16 years beyond Bitcoin’s birth, the online currency, thriving beyond the fat fingers of government, is among the fastest adopted technologies in world history.

In extreme northcentral Iowa’s Winnebago County, a stone’s throw below the Minnesota line, Smith works 1,200 acres of row crops and raises a small amount of livestock. He doesn’t flinch at the “first bird to fly takes all the arrows” maxim, whether innovating via wide-row corn, strip intercropping, stock cropping , or Bitcoin.

“Bitcoin is the currency of the future, and that includes agriculture,” says Iowa grower Zach Smith.

(Photo by Stock Cropper)

“It’s just a matter of time for Bitcoin in agriculture, and I don’t mean far off. In 10 or 15 years, Bitcoin could be a normal part of a farm transaction. It’s a question of when critical inertia hits, but Bitcoin will be utilized by folks in agriculture in the near future.”

“The people at the top of agriculture in power, the CEOs, big-time commodity traders, and agribusiness, are looking at Bitcoin as a hedge against dollar debasement,” he continues. “Again, it’s coming fast.”

Out of the chute, Smith sees Bitcoin as a store of value. “Look what’s happened to land. So many outside investors have entered the market, producing inflated land values that make no financial sense with the value of what is being produced.”

“That’s where I see Bitcoin making its first impact. As investors discover there’s something better than land and just as finite, something you don’t pay property taxes on, something you don’t have to maintain, something that is portable, I think land prices will drop closer to utility value, allowing young farmers better opportunities to compete in the market.”

At present, income surpluses are akin to snowflakes in hell, but Smith urges producers to prepare for change. “For those who put their fiat money into Bitcoin, and are patient, I believe they’ll be able to buy two to three times the land in the near future they would have otherwise.”

“The money printer isn’t stopping,” he adds. “Bitcoin is the offramp to the debasement problem.”

Jumping the Treadmill
A lone voice a decade-plus in the past, Vance Crowe has long been a proponent of Bitcoin in agriculture. Host of Ag Tribes and founder of Legacy Interviews , Crowe is adamant: Bitcoin is transformative for farming.

“Just a few years ago, people reacted negatively when I talked about Bitcoin. That’s been replaced with genuine questions and consideration. Bitcoin is going to become deeply embedded in how the business of agriculture functions, and people who’ve been trying to preserve the value of their dollars are going to move those dollars out of land and into Bitcoin. Guys who’ve gotten a 6-7% return on land are looking over at Bitcoin and seeing a 65 percent return every year for the last 15 years. The wake-up is happening in real time.”

“Five, 10, or 15 years, it’s going to completely change agriculture’s game,” says Vance Crowe, regarding Bitcoin.

(Photo by Legacy Interviews)

In March 2025, President Trump signed an order establishing a Strategic Bitcoin Reserve . Three months later, the Federal Housing Finance Agency (FHFA) ordered Fannie Mae and Freddie Mac to develop plans toward the use of cryptocurrency as a mortgage loan asset .

“It’s only a matter of time before ag lending starts realizing it’s a lot better to collateralize loans with Bitcoin, than to do so with cattle or maybe even land,” Crowe projects. “If you collateralize a loan with cattle or land, if that person doesn’t meet their obligations, the lender must assess, load, or sell. Only then does a lender get the money. Bitcoin bundles all of that into a 10-minute fix. Ag lending will become heavily enmeshed in Bitcoin.”

Government maintains the exorbitant privilege of seigniorage, i.e., printing reams of bills with no backing. Need more, print more. Conversely, Bitcoin is limited to a 21-million cap. Finite.

No central issuer; no board of directors; no CEO; and no marketing department. Just a vehicle, according to Crowe, carrying unprecedented opportunity for agriculture. “Farmers have been put in a position where they spend as much of the money they have coming in as possible, both for tax reasons, but also because the value of their dollars always goes down.”

(For a basic primer, see What is Bitcoin? The Explanation That Clicks )

“Bitcoin provides an unprecedented option where a farmer can say, ‘I’ve made this money and I don’t want to risk its value. I’m putting it in Bitcoin.’ That provides a way to jump off the treadmill of constantly buying new tractors, building more sheds, or constantly growing.”

Fundamental change is knocking, Crowe contends: “Five, 10, or 15 years, it’s going to completely change agriculture’s game.”

Proverbial Lightbulb
Raised in hardscrabble 1980s row cropping in southcentral Nebraska’s Adams County, Kevin Kimle watched his father barter. Side of beef for a farm repair; load of pigs for a used semi.

“It’s in our agriculture muscle memory: a means to trade in a different currency,” says Kimle, now an Iowa-based entrepreneur and agriculture economist, and founder of BitCorn . He serves as Rastetter Chair of Agricultural Entrepreneurship and director of agricultural entrepreneurship programs at Iowa State University.

“I view Bitcoin as one of the most important inventions in human history,” says Kevin Kimle.

(Photo by BitCorn)

“We’re at the beginning of a transition to a Bitcoin standard not only in the U.S., but globally, and I think agriculture is a natural first mover on the leading edge of that transition.”

Practically, what does that mean to a farmer? A seventh saved, according to Kimle . As in, annually turning a seventh of a crop to Bitcoin, generating at least two crops worth of Bitcoin by the end of seven years.

He still owns farmland in Nebraska and began researching Bitcoin in 2021. “I’m about four years into this. But my own simulation, if I had sold 10% of my grain for Bitcoin instead of dollars, I’d have four years of crop in Bitcoin today.”

In summer 2025, Kimle set up a business bridge between Bitcoin and traditional agriculture— BitCorn —intent on giving farmers tools, basics, and the means to make transactions.

“The proverbial light bulb went off. At BitCorn, we’re providing a place where a farmer can learn Bitcoin. Agriculture is packed with incredibly innovative entrepreneurs, and their ideas are going to take us down the Bitcoin road.”

Bitcoin trades 24 hours a day, seven days a week, and 365 days a year. “I view Bitcoin as one of the most important inventions in human history,” Kimle explains, “in the ballpark with the wheel, plow, printing press, electricity, and anything else.”

Our Children’s Money
Dennis Campbell is at the helm of Crystal Creek Enterprises, in east Iowa’s Clinton County, working with corn, soybeans and some wheat acres. Crystal Creek manages a portfolio of 10,000+ acres of owned, rented and custom farmed land.

“There’s a way to wake up and say, ‘I can buy $500 worth of something that’ll hold value as good as or better than land,’” asserts Dennis Campbell.

(Crystal Creek Enterprises)

Starting in 1854, Campbell’s forefathers scratched dirt outside Grand Mound, within proximity of the Mississippi River. His farming bloodline reaches back to Antebellum America, but although Campbell shepherds past legacy, his eyes are locked on the horizon. Internationally renowned for emerging technology, Crystal Creek is a consistent mecca for visiting ag delegations from Africa, Australia, Europe, and South America since 2013. In 2025, Campbell opened a BitCorn node on his farm. He jumped in the Bitcoin pool in 2023.

At present, Campbell estimates 85% of U.S. farmers take zero notice of Bitcoin. “They are nose to the grindstone, trying to juggle work, debt, equipment, and family, all while things get worse financially. I don’t know any more than anybody else, but I believe Bitcoin, at a minimum, is becoming a major tool in the toolbox to protect ourselves against an out-of-control government.”

“Just look at crop insurance, alone,” he continues. “You can spend $45 to $55 an acre insuring 250-bushel an acre APH corn. That’s crazy. I sure as hell won’t make 50 bucks an acre this year. Even if Bitcoin only gave some independence back on crop insurance, that by itself is enough for me.”

Does Campbell see growers investing a seventh of a crop in Bitcoin?

“We’ve got to put a portion of our proceeds in. If I could do that and have sufficient comfort to lower my 85% revenue harvest priced option insurance policy to 70% and lower my cost from $50 bucks to $20, that’s quite a savings account. Every year, regardless of how tight our belts are, we need to allocate a percentage of proceeds above and beyond our principal payments for land and green or red paint into something that can’t be debased and diluted by runaway government spending by 535 people in Washington, D.C.”

In 2025, Dennis Campbell opened a BitCorn node on his Iowa farm.

(Photo by Crystal Creek Enterprises)

Debt and the next generation loom large in Campbell’s view of Bitcoin.

“We’re spending our children’s money now and that’s what debt is. That’s what debt creates—a burden on future society and on future fruits of labor. It’s madness and we all talk about land as the best store of financial resources, but land is difficult to accumulate at a fractional pace. It’s not easy to wake up and say, ‘I’m gonna go buy 80 acres today,’ but there’s a way to wake up and say, ‘I can buy $500 worth of something that’ll hold value as good as or better than land.’ Bitcoin.”

Adios to the Rulebook
“The smartest thing somebody in agriculture could do is go down and borrow a bunch of money against traditional collateral and use that money to buy Bitcoin.”

Bold words. However, Matt Gilbert maintains Bitcoin future for agriculture is inevitable and backs his contention with receipts. Raised in the vast fields of Texas cotton country, Gilbert is an esteemed entrepreneur with specialization in mergers and acquisitions. He calls balls and strikes.

“Before my lifetime ends, the old playbook will be obsolete, and those prepared today will lead the charge into tomorrow’s agriculture economy,” says Matt Gilbert.

(Photo by Gilbert & Associates)

“Modern farmers invest heavily in equipment, infrastructure, and resources, yet the real paradigm shift lies in leveraging advanced financial tools. Up and down the agriculture supply chain, whether you’re manufacturing machinery or distributing fertilizer, nearly every participant depends on traditional lines of credit,” Gilbert explains.

“Financing in dollars is trapped in a cycle of diminishing returns—a negative loop. But using Bitcoin as a store of value creates an entirely positive feedback loop. If you’ve held Bitcoin during any four-year window since its inception, historically your purchasing power has multiplied, matching up to nearly 12 times what a dollar-based payment could achieve. This shift isn’t incremental—it’s transformational for agricultural economics.”

Adios to land or physical assets as necessary collateral? Yes, Gilbert says. “Choose any era in history: mass-market automobiles, television, the arrival of the Internet. Bitcoin’s adoption curve is exponentially steeper than any previous innovation. It stands alone as an asset that appreciates with unrivaled velocity, fundamentally altering the financial landscape for growers and agribusinesses.”

Agriculture trade is conducted via the U.S. dollar, which loses at least 3-5% per year in value. Tack on the price of inflation, and farmers see 10%-plus of dollar value slip away, annually. “Those numbers are incredibly disheartening,” Gilbert details. “For example, if someone got paid for a crop in 2023, sat on a little of the money, and decided to spend it in 2026, they’re going to have somewhere between 25-40% less purchasing power with the dollars they saved. That’s a giant problem. Bitcoin solves that problem.”

Bitcoin’s adoption rate has been phenomenally steep.

(Graphic by BlackRock)

“The implication for farmers and ag professionals is clear: Understand the currency paradigm shift, because the money you’re using, the dollar, is undermining your business more than you realize,” he says.

“My advice to those in agriculture is to leverage the advantages of both systems; pay expenses in dollars, but demand income in Bitcoin—the most secure and robust cryptocurrency. Weak currencies burden, but robust currencies liberate. It’s time for agriculture to pivot toward strength.”

What about buying farmland? Tokenization, Gilbert posits. “It’s already happening. Commercial real estate has been tokenized in the last couple of years. Agriculture assets are going to follow. Tokenization is the future, not theory. It’s reality. Commercial properties have already been fractionalized on the blockchain (the network Bitcoin runs on), and agriculture is next in line.”

Think apartment complex or condo in New York City. The building can be bought by tokenizing the real estate, meaning multiple people buy a portion. One buyer in Kansas; another in Indiana; more elsewhere, all purchasing 500 square feet apiece via the blockchain.

“Imagine democratizing rural assets. A family in Iowa, an investor in Mississippi, and stakeholders from across the nation jointly tokenizing a farm. The blockchain ledger transparently records every transaction, making ownership, lending, and risk radically clearer and more efficient than ever before. This will overhaul deed registries, middlemen, banking, and title services, drastically cutting costs and speeding processes.”

Markets also benefit, Gilbert believes. A futures contract is typically bundled in lots of 100, whether hedging crops, fuel, or fertilizer. Bitcoin splits the bundle into fractions of 1 million. “Instead of the current way things are primarily done, which is 100 units equals a contract, Bitcoin breaks that into a million pieces instead of 100 pieces, which means a far more level playing field for the person in agriculture versus the person in finance.”

The next 15 years will be telltale, Gilbert predicts. “Having studied the Bitcoin space since 2013, I’ve witnessed digital currency realize in a decade what it took the dollar more than a century to accomplish, without systemic debasement. Within the next fifteen years, financial rules governing agriculture will be rewritten, marking a generational inflection point. Before my lifetime ends, the old playbook will be obsolete, and those prepared today will lead the charge into tomorrow’s agriculture economy.”

What is Money?
Bitcoin naysayers abound. Ponzi party. Bernie Madoff special. Dot.com crash all over again. Sam Bankman-Fried unleashed. Cinderella at midnight .

Pitfalls? Certainly. Black swans. Always.

The Trump administration has generated strong support for Bitcoin, but the perspective of subsequent administrations is unknown. What about the Bitcoin blockchain—how secure will it be in years to come?

However, bolstered by steady gains and landmark promise, the past 16 years of Bitcoin have shown otherwise, contend Crowe, Kimle, Campbell, Gilbert, and Smith.

A handful of years in the past, Smith was a Bitcoin scoffer. Scam. Scheme. Trainwreck.

No more. He now sees Bitcoin as bell cow.

“It’s a question of when critical inertia hits, but Bitcoin will be utilized by folks in agriculture in the near future,” concludes producer Zach Smith.

(Photo by Stock Cropper)

“Whether Bitcoin is a store of value or medium of exchange in farming, it’ll be one or both,” Smith concludes. “Over the last 10 years, I’ve asked myself the hard question, ‘What is money?’ The best answer is to make the effort to find out for yourself. Go to Amazon and buy a copy of The Bitcoin Standard . Might be the most valuable $20 you’ll ever spend. Why? Because Bitcoin is the currency of the future, and that includes agriculture.”

For more from Chris Bennett (@ChrisBennettMS or cbennett@farmjournal.com or 662-592-1106), see:
Corn and Cocaine: Roger Reaves and the Most Incredible Farm Story Never Told

How the Deep State Tried, and Failed, to Crush an American Farmer

Game of Horns: Iowa Poacher’s Antler Addiction Leads to Historic Bust

Ghost Cattle: $650M Ponzi Rocks Livestock Industry, Money Still Missing

Farmer Unearths Lost Treasure, Solves WW2 Mystery

3 Ways To Protect Your Ag Business from Cybersecurity Threats

Mon, 27 Oct 2025 14:59:14 GMT

Agriculture is in the bull’s-eye for threat actors trying to access business information. But as Chris Sherman says: “Our keys in the visor mentality” has many farmers trusting too much and putting too much at risk.

Sherman is the founder of Tech Support Farm, an IT and cybersecurity consulting business who works with farmers, co-ops, custom harvesters and more ag businesses to shore up their systems, lock down their sensitive information and stay attuned to emerging risks.

The FBI has listed agriculture as a critical infrastructure for cybersecurity.

So where do most farmers leave themselves vulnerable to hackers? Sherman shares these:

1. Email

Sherman points to email as the No. 1 priority for farmers on where to start in taking cybersecurity seriously.

“The amount of information and data we are sending via email leaves every farmer at risk — from our FSA staff, agronomists, banks and more,” he says. “Emails can be intercepted, all contents can be exposed, and no one is the wiser. It would be like a rural mail carrier, and when he drops the mail someone stands there opening it, reading it and closing the envelope and putting it back in the mailbox. Foolhardy to be using the free email services such as Gmail, Yahoo and others.”

Here are four steps to shore up your email:

Get a domain
Get a commercial email provider
Get a filtration software (which monitors what comes in)
Get a DMARC compliance service (which manages outbound emails, so no one spoofs you and encryption is done properly)

As an example of why this should be prioritized, Sherman tells the story of a farm business working on a land deal.

“A dad and son were just about ready to sign, and the dad got an email from the bank, at least it appeared to be from the bank, but it was a spoof encouraging them to e-sign,” he says. “And everyone signed, and it drained the bank accounts and blew up the deal.”

2. Be aware of your personal information shared, and embrace “herd immunity”

All to often, farmers don’t have passcodes on their phones.

“That’s like leaving your credit card at the bar,” Sherman says. “For some reason in agriculture we are running multimillion dollar businesses on residential-grade infrastructure.”

He says by the nature of the business, enrolling in government programs, immigration workforce programs (such as H-2A) and more, make your address, phone number and email readily accessible.

“It’s a wealth of opportunity for threat actors. We can’t leave our doors and windows open,” Sherman says. “So you have to protect yourself, and encourage your friends, neighbors and business partners to do the same. If we are all reducing our individual risk, we are reducing the overall risk.”

3. Use high-quality passwords

Sherman says good passwords are must-have on all your accounts, including your Wi-Fi.

“Too often, farmers have their password just be a duplicate of the network name. Or if a farmer’s favorite tractor is a John Deere 4450, 4450 is his pin for everything,” he says. “When we are on the internet, it’s like being in the big city, and you have to act accordingly.”

Farmland Lease Renewals: What Will Cash Rents Be in 2026?

Wed, 20 Aug 2025 19:25:09 GMT

Right now, land values and cash rents are top of mind for farmers.

Take Iowa for example: Sept. 1 is the deadline for any current farm leases to be terminated unless they are to remain in place for the upcoming year. And about half of Iowa’s crop ground is farmed with a cash rent or crop share lease.

“We continue to be amazed by the resiliency of the ag land market. When we look at the farm economy and commodity markets, and the fact that we can sustain the high land values that we set over the past five years, it’s just pretty amazing,” says Paul Schadegg, president at Farmers National Company. He’s been in professional farm management for more than 25 years, and just a few weeks ago was promoted within FNC to his new role.

Specific for cash rents, the survey data provided by USDA and land grant universities looks back at the previous year. You can read the latest cash rent survey results from Iowa State here.

(Data: USDA)

However, as it’s renewal season, Schadegg says he thinks overall, cash rents will be flat on average.

“Probably, cash rents will be somewhat flat. There might be pockets where we might see some depression because of weather events or just the ag economy,” he says. “But if we continue to see an erosion of commodity markets, that’s a discussion that’s going to have to be made as we go through ‘26 and negotiating into ‘27.”

Schadegg adds a lot of cash rents FNC deals with have evolved to flex leases.

“With these flex leases, you’re protected on the upside and the downside a little bit, so there might not need to be big adjustments, but that does help account for the change in commodity markets,” he says.

Overall Farmland Trends
Schadegg starts with supply and demand. Current farmland real estate listings are down 25% compared to recent highs from 2021 to 2023.

“There are simply more motivated buyers right now than there are willing sellers. So, that has put a somewhat of a funnel on the amount of land being offered for sale,” he says. “When you have these motivated buyers — which are still primarily farm operators — they’re being pushed by investors.”

He says the combination of strong farmer-led demand plus the elevated interest from investors is what’s holding the floor on farmland values. Whereas five years ago, a strong farmland market was solidified by higher commodity prices.

“I think we’re going to reach somewhat of a tipping point where it doesn’t make a lot of sense for a farm operator to buy a piece of land if he can’t cash flow it,” Schadegg says. “If it’s better for him to step back and let an investor buy it, with a pretty good chance he might be able to farm it, they will concentrate their capital expenses on equipment and things they need to run their operation.”

If there’s one factor to watch in the farmland values equation today, it’s the ag economy.

“Profitability for the operator and for the landowner is what’s really going to decide what direction land values go,” he says. “Although we focus most of our attention [at FNC] on representing the landowner, we also have to take into account we’re working with these operators. They’re a very important part of this equation, and if it’s not profitable for them, they’re not going be farming the ground very long. And if it’s not profitable for the landowner, they’re not going to retain ownership.”

As for development pressure, Schadegg shares that has tampered a bit since COVID but is still a factor. Notably, renewable energy development has slowed since the Trump administration took over in 2025.

“Wind especially has experienced the drawback. A lot of projects have been canceled because of the cost to build wind and the infrastructure involved,” Schadegg says. “However, with solar, we continue to see some pretty good interest in building larger-scale solar projects. One of the big reasons for that is a simple statement: it’s the quickest way to the grid.”

He notes while coal-fired power plants or nuclear power plants could take decades for approval, a solar project can be up and going in 18 months.

3 Big Leadership Myths You Need to Bust

Thu, 07 Aug 2025 19:12:38 GMT

Leadership in agriculture often comes with high expectations. Whether you’re running a multigenerational farm, overseeing a team of employees or managing the day-to-day operations, the pressure to “do it all” can be intense. But sometimes the assumptions we make about what good leadership looks like can actually hold us back.

A recent article from Fast Company lists the three most common leadership myths, along with why it’s time to set them aside. From the push for speed to the pressure of having all the answers, these myths can shape how we lead, often without us even realizing it.

Myth No. 1: Faster Is Always Better

Running a farm is a fast-paced job. With long to-do lists and constant demands, it can be tempting to make quick decisions just to keep things moving. While fast thinking might help you get through a busy day, too many rushed calls in a row can create bigger challenges in the long run.

“While speed has its place, it can also be a liability,” says Tony Martignetti, chief illumination officer at Inspired Purpose Partners. “Moving too fast often means overlooking critical insights, missing long-term opportunities and making short-sighted decisions that sacrifice lasting value for immediate gains.”

This rings especially true in agriculture, where the days are long and the decisions are endless. The pressure to “keep up” with changing conditions can make urgency feel like the only option. But not every problem calls for an immediate fix.

“Before defaulting to speed, ask yourself: Are we moving in the right direction? Are we building something that will stand the test of time?” Martignetti says. “True competitive advantage doesn’t come from speed but from strategic timing and intentional execution. Create space for reflection and thoughtful decision-making.”

Myth No. 2: Innovation Means High-Tech

These days, it’s easy to assume that true innovation requires the latest and greatest technology. From automation and data systems to robotics and sensors, the industry is full of shiny new tools that promise improved efficiency and performance.

However, some of the most impactful changes on the farm don’t involve technology at all. Innovation can be as simple as rethinking how you train new employees to set them up for success, or it can involve updating standard operating procedures (SOPs) to better reflect what’s actually working in your operation, rather than sticking to routines that no longer serve it.

These types of improvements don’t require the latest hardware or software. They require a willingness to think critically, question old habits and try something new.

Myth No. 3: Good Leaders Have All the Answers

As the leader of your operation, you might often feel like you should know everything, but thinking you need to have all the answers can do more harm than good. Not only does it create immense personal pressure, but it can also unintentionally silence the people around you. When team members sense that their input isn’t welcomed or needed, they may stop offering ideas, pointing out concerns or asking important questions.

“The best leaders don’t have all the answers; they create environments where the right questions lead to breakthrough solutions,” Martignetti says. “Leadership isn’t about possessing infinite knowledge; it’s about creating an environment where curiosity thrives, where diverse perspectives are valued and where new ideas can emerge.”

On the farm, where no two days look the same, adaptive leadership is often more valuable than certainty. Martignetti notes that leadership requires you to ask the right questions, like: What are we missing? What could we do differently? What does the team think? These questions open the door to better solutions than any single individual could come up with on their own.

“The best leaders don’t have all the answers; they create environments where the right questions lead to breakthrough solutions,” he adds.

Become a Mythbuster

Running a farm means moving fast, thinking on your feet and handling a hundred things at once — but good leadership requires you to know when to slow down, when to listen and when to try something different. Letting go of old ideas about what leadership should look like can be tough, but it also opens the door to something better.

The best leaders don’t have all the answers, and they don’t rely on flash or speed to get results. They lead by example, stay open to new ways of thinking and create space for the people around them to grow. And according to Martignetti, that kind of leadership can make all the difference.

Could EPA Decision Signal The Beginning Of The End For DEF?

Thu, 31 Jul 2025 16:25:52 GMT

Mike Berdo has strong words to describe his ongoing experiences using machinery requiring DEF ( Diesel Exhaust Fluid ) on his southeast Iowa farm.

“It has been an absolute nightmare, at least for us. Mechanics make trip after trip to do little stuff that’s very expensive to fix,” said Berdo, who produces grain and beef cattle near Washington. “We had planting delays last spring … little stuff that came from it and just seemed like [an issue to deal with] day after day.”

The ongoing mechanical issues and costs are why Berdo said he is “all for” EPA rescinding the 2009 Greenhouse Gas Endangerment Finding. The Finding has enabled the agency to regulate greenhouse gas emissions under Section 202 of the Clean Air Act and, in recent years, and launch requirements such as the use of DEF systems in diesel-powered engines.

EPA Draws A Line In The Sand
On Tuesday, EPA Administrator Lee Zeldin released a proposal to rescind the 2009 Finding.

If finalized, the proposal would remove all greenhouse gas standards for light-, medium- and heavy-duty vehicles and heavy-duty engines, EPA said in a follow-up press release .

The move would start with EPA’s first greenhouse gas standard set in 2010 for light-duty vehicles and those set in 2011 for medium-duty vehicles and heavy-duty vehicles and engines.

EPA said the proposal is expected to “save Americans $54 billion in costs annually through the repeal of all greenhouse gas standards, including the Biden EPA’s electric vehicle mandate, under conservative economic forecasts.”

Zeldin made the announcement to rescind the Finding in Indiana, alongside Energy Secretary Chris Wright, and called it the largest deregulatory action in U.S. history.

What The Decision Could Mean To Farmers
Specific to U.S. farmers, the proposal could potentially result in DEF systems no longer being included on new tractors and other heavy equipment using diesel-powered engines, said Chip Flory, host of AgriTalk, during a Farmer Forum discussion on Wednesday.

South Dakota farmer Ryan Wagner told Flory he has a wait-and-see perspective on how or whether the EPA proposal goes into effect. He anticipates that reversing the Finding will take considerable time and effort for EPA to implement.

“It took a long time with the interim engines and things to get into full DEF in the first place,” Wagner said. “I don’t know how long it would take to unwind all that and how quickly manufacturing will just take those systems right off, but it’ll be interesting to see what happens.”

To Wagner’s point, here’s a brief look back at some timing showing when DEF rolled out in agriculture and nonroad equipment and became mandatory . The regulations were phased in over several years based on the type of equipment and engine size:

2008: DEF became required for all new diesel engines with engine sizes over 750 horsepower.

2011: the regulations expanded to include equipment with engine sizes between 175-750 horsepower.

By 2015, all new nonroad diesel engines were required to be Tier 4 compliant and utilize DEF, regardless of equipment type or engine size.

As Wagner considers DEF, he noted its use in diesel engines has provided him with one benefit: “On the plus side, I do like that they don’t make the walls of my shop black. That’s been nice,” he said. “You can run them inside for a short time and not not feel like you’re breathing in a bunch of soot and making everything black.”

Expect Legal Challenges To EPA Decision
A number of environmental groups have already blasted the move by EPA, saying it spells the end of the road for U.S. action against climate change, according to an online article by Reuters .

Legal challenges from various environmental groups, states and lawyers are likely ahead.

That fact wasn’t lost on Flory and the Farmer Forum participants during the AgriTalk discussion on Wednesday.

“If this proposal is finalized, it’s going to start a lot of conversations … and the dominoes are going to start to fall, something that we need to keep track of, no doubt,” Flory said. You can hear the complete Farmer Forum discussion on AgriTalk here:

EPA will initiate a public comment period to solicit input. Further information on the public comment process and instructions for participation will be published in the Federal Register and on the EPA website .

Your next read: Right To Repair Granted? John Deere Launches Digital Self-Repair Tool for $195 Per Tractor

Breaking Down Ranch Profitability: Expenses, Goals and the Path Forward

Thu, 24 Jul 2025 14:52:46 GMT

Profit. It should be a reality — not just a wish — for today’s ranchers. But getting familiar with your books and understanding profitability can feel overwhelming and time-consuming.

So, where should ranchers start if they want to build a profitable operation they can someday pass on?

“We start planning for profit by first setting a goal,” says Patrick Jones, regenerative ranching advisor at the Noble Research Institute. “That goal can be anything — from a specific income target for the year to a certain return on investment. We set the goal, then manage expenses to reach it.”

But if goals can vary by operation, what makes a good one?

“The biggest thing is setting a goal that’s attainable,” Jones says.

The time frame depends on the type of operation.

“Profitability goals are typically set for no longer than a year,” he says. “Stocker operators may have multiple budgeting periods in a year, so their goals align with each of those.”

To truly understand if your ranch is profitable, you must track income and expenses by enterprise.

“To be sustainable, each enterprise needs to be profitable on its own,” Jones says. “We want to hand down something that works — not something that’s bleeding money.”

Many producers may think they’re in the black, but they’re actually leaning on outside support.

“We see a lot of operations that appear profitable, but they’re being subsidized by off-farm income or inheritance — land or money,” Jones says.

Understanding your cost structure is essential to changing that.

“We have two buckets of expenses: overhead and direct costs,” he says. “Overhead costs stay the same no matter how much you produce. Direct costs vary with production.”

Overhead costs include land, labor, equipment and other fixed assets.

“Ranchers don’t always capture all their overhead,” Jones says. “Just because a piece of equipment is paid off doesn’t mean it doesn’t cost anything. There’s still maintenance.”

Labor is another commonly overlooked expense — especially owner labor.

“Unpaid labor often goes unaccounted for,” Jones says. “But we shouldn’t be working for free.”

Tracking overhead year over year helps ranchers gauge whether they’re moving toward profitability.

“There’s a ratio we run on overhead,” he says. “Watching that trend tells us whether we’re heading in the right direction.”

Direct costs — such as feed, medicine, and marketing — also need to be accurately tracked.

“Ranchers usually do record direct costs,” Jones says. “The mistake is they don’t charge the enterprise the true value.”

Take hay production, for example.

“Many cow-calf producers raise their own hay and just track production cost,” he says. “But they should be charging the current market rate per bale. Otherwise, they don’t really know if it’s more cost-effective to raise or buy hay.”

Managing direct costs is operation-specific, but keeping an open mind is key.

“I grew up chasing weaning weights,” Jones says. “But now we know that by managing forage differently — and even lowering weaning weights or reducing herd size — we can become more profitable because it costs less to get there.”

No matter where your operation is today, the most important thing is making progress.

“We can’t fix what’s behind us,” Jones says. “We want to manage for profit moving forward.”

Listen to the full conversation with Jones on the Casual Cattle Conversations podcast.

You can access more ranch profitability resources by going to www.noble.org/find-a-course/

Drovers Beef Biz: New Product and Business Announcements to Help Ranchers

Wed, 23 Jul 2025 19:23:50 GMT

Check out announcements about product and service announcements, including a new strategy and advocacy firm, trace mineral paste, cost savings calculator and virtual fencing company expansion.

New Agricultural Strategy and Advocacy Firm Launches

A new firm, Good & Associates , specializing in issues management, government affairs, strategic communications and industry relations for the agriculture sector has launched.

Firm owner, Chelsea Good, aims to bring her experience in federal and state policy, industry coalition building, law, and association leadership to a larger audience. Based in Leawood, Kan., Good & Associates serves clients throughout the U.S.

Good brings more than a dozen years of experience as vice president of government and industry affairs and legal at the Livestock Marketing Association (LMA), where she served as a key voice for livestock auction markets and the cattle industry. She will continue to serve LMA as a client of the new firm.

Good & Associates will offer services including: issues and crisis management, government affairs and policy development, industry and stakeholder relations, strategic communications, and legal, governance, and business advisory support.

New Trace Mineral Paste Available to Support Beef Cattle Health and Performance

Cattle producers looking for ways to quickly to support immune function, recovery and overall animal well-being have a new delivery option in Zinpro ProFusion Paste . Similar to the ProFusion Drench, the paste improves trace mineral status within 48 hours and easily administered in cow-calf, stocker and feedlot operations, especially when cattle are prone to reduced feed and water intake.

According to a release, ProFusion Paste is a nutritional supplement designed to deliver a multi-day supply of essential trace minerals and nutrients to cattle during critical periods of stress such as weaning, shipping, receiving and vaccination. It’s also been shown to improve vaccine efficacy and AI pregnancy rates when used at CIDR placement.

Investment Calculator Helps Ranchers Understand Cost Savings for Restoring Rangeland and Pastures

A new Return on Investment Calculator to help ranchers and land managers visualize the long-term cost savings of restoring their rangeland has been introduced by Envu.

Ranchers can see how much money and time they can save by increasing forage availability, reducing grazing strain, and increasing production using innovative solutions like Rejuvra herbicide and Invora herbicide by using the calculator.

According to a company release, Rejuvra herbicide stops cheatgrass at the germination level and protects rangelands for up to four years so desirable forage can return. This increase in forage availability reduces grazing pressure on the land and improves the overall ecosystem. A single application of Invora herbicide can reduce the canopy cover of mesquite for 10 years and huisache for five years. Rejuvra herbicide can help reduce feed cost by $50 to $100 per head and reduce labor costs by $15 to $25 per head.

Virtual Fencing Tech Company Raises Capitol for U.S. Expansion and Productivity

Halter , a technology company increasing productivity on U.S. cattle ranches with its virtual fencing and animal management system , has raised $100M in a Series D fundraising round, valuing the company at $1 billion, according to a company release.

Halter was created in New Zealand and has 150 ranchers across 18 states using the system in the U.S. The capital will help thousands more ranchers increase productivity and deepen their enjoyment of ranching, in turn driving growth in the economy.

Big Beautiful Bill: What Farmers Need to Know

Mon, 07 Jul 2025 20:46:05 GMT

President Trump signed the One Big Beautiful Bill (BBB) on Friday July 4, 2025. Here’s an outline of some of the key details farmers need to know. Reference prices and the calculating of effective reference prices get across the board increases and will likely lead to an additional $10 billion of support in 2026.

Many farmers operate their farm as either an LLC or S corporation to save on self-employment taxes and to provide additional legal protection. However, a general partnership provides benefits for farm program payments purposes that an LLC or S corporation does not. The BBB now provides equality for LLCs and S corporation with general partnerships.

Let’s look at an example:

The ABC Farm LLC has three equal owners, all active participants in the farm operation.
The LLC qualifies for $500,000 of payments for the 2024 crop year.
Prior to the BBB, the LLC was limited to $125,000 of payments.
If ABC Farm had been a general partnership, then the payments would be limited to $375,000.
After the BBB, the LLC will qualify for $375,000.

Under pre-BBB rules, farm income typically did not include gains from selling farm equipment. FSA required your other farm adjusted gross income (AGI) to exceed 66.66% of total AGI. The BBB fixes this by simply stating gains from selling farm equipment is farm income along with agri-tourism and the direct-to-consumer marketing of agricultural products.

Crop insurance premium support will get an extra 3-5% increases on subsidies and beginning farmers will now get enhanced premium support for 10 years instead of five.

A farm couple starting in 2026 can now be worth $30 million ($15 million each) and owe no federal estate tax. This will be indexed to inflation and with very simply planning you can easily be worth $40 million and owe no federal estate tax.

Farmers can now take advantage of 100% bonus depreciation for assets placed in service after January 19, 2025, and Section 179 has been bumped to $2.5 million for 2025.

The state and local tax (SALT) limit has been temporarily increased to $40,000 through 2029. However, if your AGI exceeds $600,000, it drops back to the current $10,000 limit. Farmers can continue to fully deduct state income taxes that are paid by a pass-through entity (at least in most states).

The extra 20% Section 199A deduction for next farm income is made permanent with some small enhancements.

Farmers and their spouses aged 65 or older will get an extra $6,000 deduction (each) but only for four years and this will phase out as your income goes over certain levels.

This has been a review of some of the key changes from the BBB and I would grade this Bill as a B+ for most farmers.

Make the Most of Your Midyear Money Decisions

Tue, 01 Jul 2025 15:45:02 GMT

As the calendar flips to July, it is the perfect time to take a hard look at your operation’s financial health. A midyear financial check-in can be one of the most valuable tools in your management toolbox, offering a clear-eyed view of where your business stands and how to pivot if needed before the year wraps up.

“Performing a midyear checkup can help you stay on track for achieving your financial goals,” says Samantha Gehrett, Senior Extension Educator with Penn State Extension. “It is an excellent opportunity to evaluate how your operation is doing and make adjustments for the remainder of the year.”

Here are five key areas Gehrett recommends reviewing to strengthen your financial footing in the second half of 2025.

1. Update Your Books
Accurate records are the foundation of sound financial decisions. Gehrett encourages producers to review and update their books regularly, not just once a year at tax time.

“Experienced business owners know that accounting and financial reviews should take place monthly,” she says. “If you do not yet have a system in place or find that you continue to fall behind on monthly reporting, consider scheduling some additional time with your accountant.”

Midyear is a smart time to catch up on tracking income, expenses, assets and liabilities. Whether you use software like QuickBooks or a simple paper ledger, keeping current ensures you are working from real numbers, not guesses. This will also make year-end reporting and tax prep significantly easier.

2. Reconnect with Your Business Goals
The goals you set in January might not match the realities you are facing in July. That is why Gehrett encourages producers to revisit their goals and ask:

Are my initial goals still appropriate
What have I achieved so far
Are there any achievements I have missed and why
Are there any new needs that require setting new goals

Whether it is related to increasing cash flow, expanding acreage or investing in equipment, now is the time to shift your targets or reallocate resources as needed. Staying flexible helps ensure your goals evolve with your operation, not against it.

3. Organize Your Financial Documents
Organization is more than just tidiness. It is a financial strategy that saves time, reduces stress and prevents mistakes. Gehrett advises producers to make sure receipts, invoices, loan documents and financial statements are easy to access and up to date.

“Having your income, expense, asset and liability information organized makes conversations with your accountant or lender much more effective,” she explains.

It can also help you avoid missing important deductions or payment deadlines that may affect cash flow and credit relationships. Set aside time to clean up digital or paper files, double-check entries and review outstanding bills or receivables.

4. Check Cash Flow and Budgets
Now is the time to examine how money has moved through your business so far and whether it aligns with your expectations.
Gehrett suggests starting with key questions:

Are there outstanding bills that need immediate attention?
Are you on track to meet your projected income goals?
Are your expenses being managed effectively?
Do you need to consider adjusting your pricing or service rates?

If cash flow is tight or trending in the wrong direction, consider trimming unnecessary expenses, renegotiating terms or identifying areas for additional revenue generation. Small changes now can make a big difference by year-end.

5. Review Your Key Financial Statements
To understand your operation’s financial position, you need to analyze three core financial documents. According to Gehrett, these documents include:

Income Statement — This shows your revenue, expenses and net profit or loss over a specific time frame. Think of it as your farm’s financial report card.
Balance Sheet — This snapshot reflects your assets, liabilities and equity at a particular point in time.
Cash Flow Statement — This document tracks when money is coming in and going out, helping you anticipate shortfalls or surpluses.

Gehrett notes these reports work together to give a complete picture of financial health. They help you answer important questions such as:

Are you profitable?
Is your equity improving?
Do you have enough liquidity to support upcoming decisions?

Why This Check-In Matters
By summer, planting is behind you and harvest is still ahead. It is the perfect window to regroup, reassess and reinforce your financial footing.

With updated records, refreshed goals and a clear understanding of your cash flow and net worth, you will be better positioned to catch and correct issues early, adjust plans proactively instead of reactively, strengthen lender and vendor relationships and capitalize on opportunities like equipment upgrades or land purchases.

Don’t wait until December to find out how your year really went. Take charge now and finish financially strong.

Overcoming Burnout in the Agriculture Industry

Tue, 01 Jul 2025 11:31:15 GMT

Burnout isn’t always about doing too much. Sometimes it’s about doing the wrong mix of work or carrying all of the mental load on top of the physical. That’s according to Kacee Bohle, who runs AgriMinds , a group coaching business for members of the agriculture industry.

“You can still have a full plate and feel fine, especially if you’re doing stuff that energizes you,” she says. “But what happens when every single part of your day feels like a chore, even the stuff that you used to love? That’s when you know stuff is starting to get off. You can feel burnt out, even when you love or loved the type of work that you do.”

For business owners, farmers, ranchers and ag professionals, Bohle says people often judge themselves for having negative thoughts about the work they have chosen to do in a field they love. There is pressure to carry on the family legacy and love every part of it, and to feel proud of the work.

“Burnout doesn’t care who you are,” she says. “Burnout doesn’t care who’s in charge. It shows up when you’re over extended, misaligned, and you’re trying to carry all the things all the time without any support,” she explains.

Sometimes the work isn’t optional. The gate needs fixed. The field work needs done. The livestock need fed. Bohle points out even when the tasks can’t change, the conversation can. Sometimes it’s not the physical work that is causing burnout, but the mindset surrounding the work.

“What I mean is I want you to start noticing what expectations, pressure or guilt that you’ve been piling on top of the already heavy stuff,” she explains. “Sometimes what’s extinguishing you isn’t the work, it’s the story that you’re telling yourself about the work.”

For example, it could look like thoughts that are similar to: I should be able to handle this. I shouldn’t be tired. I chose this. I don’t have time to feel burnt out. I just need to push through this. It’ll eventually go away.

As Bohle points out, pushing through only works so long.

“There’s only so much you can brush under the rug before it starts seeping out, bulging and tripping you up,” Bohle says. “Eventually, your energy runs out, and if your mindset isn’t giving you any grace or flexibility, everything is just going to continue to feel harder.”

Can you extinguish burnout? Start with what you can control.

An exercise to address burnout is to create two lists. Write down what gives you energy and what drains you, Bohle suggests.

Notice one item on this list that drains you that you can shift or do differently, she says. Then look at the list of things that gives you energy and intentionally add back in something that gives you energy — even if it’s for just five minutes.

“This is not about trying to fix everything,” she explains. “It’s not even about trying to fix stuff overnight. This exercise is just about noticing what’s going on beneath the surface, giving yourself permission to make some small shifts here. Control what you can control.”

Four mindset shifts to keep in mind:

You’re not lazy or failing.
You’re likely mentally, physically, and emotionally maxed out.
Focus on awareness and small, intentional changes.
Remember, the goal is not to fix everything overnight, but to start noticing and making small, manageable changes.

Your next read: Overcome the No. 1 Challenge in Passing Down Your Family Farm

Overcome the No. 1 Challenge in Passing Down Your Family Farm

Mon, 30 Jun 2025 19:38:38 GMT

Between now and 2048, about $124 trillion is expected to exchange hands from older to younger generations in the U.S., according to Cerulli Associates, a Boston-based market research firm.

For perspective, that dollar amount is approximately five times the size of the 2023 U.S. Gross Domestic Product (GDP), which totaled $27.72 trillion.

How will farmers fit into what many people are calling the “Great Wealth Exchange” over the next two decades? Much of it is specific to land, according to the American Farmland Trust (AFT). It predicts 300 million acres of U.S. agricultural land will change hands in the next 20 years.

Based on $5,000 an acre for farm ground, Paul Neiffer, the Farm CPA, estimates that would be a transfer of between $1.5 trillion and $2 trillion in land from older farmers to younger generations.

“If you throw in rangeland, that’s another trillion, so $3 to $4 trillion at most is where I think we’re at,” Neiffer says.

The Reason Succession Often Fails

A common issue is that while 69% of farmers plan to transfer their operation to a younger family member, only 23% have a plan , according to AgAmerica Lending LLC.

But the No. 1 issue that trips up people in the succession planning process is most people – farmers included – focus more on the mechanics involved in transferring assets than on keeping their family relationships intact.

That’s according to Amy Castoro, CEO and president of The Williams Group, a family coaching and consulting organization. Her firm does relationship planning to help family members make sure they’re still speaking to each other after the wealth transfers.

Many times, she says, the friction in the transfer of wealth has little to do with money and material goods and a whole lot more to do with whether the family members involved felt loved.

A Formula For Success

The Williams Group did a 20-year field study and from that developed a formula for how people need to focus their time and energy in the succession process.

The company recommends spending:
60% of your time on building family trust and developing good communication practices;

25% preparing your heirs to take over the operation, laying the business and fiscal groundwork for the farm to continue under their leadership;

10% of your time getting on the same page about your family’s values and having a family mission;

5% of your time on the estate planning mechanics, the nuts and bolts of how the assets will transfer.

In addition, The Williams Group advises that you work with your heirs to:

Strike a balance between control and collaboration.
Embrace the next generation’s perspectives.
Bolster intergenerational solidarity.
Embed high-trust behaviors.
Co-design standards for readiness.

Start The Plan Sooner, Not Later

If you want to see your farm succeed with the next generation of family members, make sure you have the right structure in place – and set it up sooner than later. Don’t put it off, Neiffer advises.

Once you have a plan in place, you have a tool you can modify to fit what your family and farm need over time.

“Having a plan in place can help alleviate stress, even if things change down the road,” Neiffer says. “Keep in mind that farming is a dynamic business and your plan needs to be, too.”

Your next read: Big Questions Remain For Next Gen Farmers

Is Food Inflation Heating Up July 4th Grills?

Wed, 25 Jun 2025 17:44:50 GMT

Two industry reports are shining a light on the cost of a July 4^th barbecue.

The economists at Wells Fargo calculate an at-home holiday party for 10 will cost $130. The menu includes chicken breasts, beef sliders, hot dogs, fresh fruit, a vegetable platter, potato salad, corn bread, cake, apple pie, ice cream, beer, wine and soda.

Dr. Michael Swanson, chief agricultural economist within Wells Fargo’s Agri-Food Institute, says year-over-year food inflation is 2.2%.

For notable food prices from the July 4^th report, he cites the following:

Ground beef: Up 7.4%
Boneless chicken breasts: Up 1%
Watermelon and strawberries: Down 0.6%
Potatoes: Up 1%
Egg prices: Up 40%
Ice cream (1.5 quart): Up less than 1%

Swanson says beef prices year over year have been running 6% to 8% higher.

“When you talk to somebody who’s a processor or a packer, there’s not a part of the cow that moves independent from the other parts of the cow so it’s all right in that category 6% to 8% on a year over year basis the last couple of months based on CPI,” he says.

He says for cost-savings, chicken offers the greatest opportunities in the protein category.

“When you look at the composite pricing from USDA, it’s right around $2.42 to $2.45 a pound — including everything from wings and breasts,” he says.

As for hot dogs, Swanson says the blend inside the casing will drive the price.

“If you go with the all-beef frankfurters, yes, they’re up substantially. If you look for a sausage or bratwurst that has a blend of pork and beef in it, you’re probably finding a much better bargain. Pork has been pretty flat year over year,” he says.

Swanson says the effects of highly pathogenic avian influenza are still being reflected in higher egg prices for menu items such as deviled eggs and salads.

As for ice cream, Swanson says the increase in cost is being attributed to additional labor expense in production.

“We’re seeing a little bit of inflation in that category, but just very modest. We have a good supply of cream and milk in the country right now. The dairymen are doing wel. So, what that reflects is kind of that cost of transformation,” he says.

Wells Fargo uses NeilsenIQ data for its analysis.

American Farm Bureau Market Basket Survey
Using its annual survey, The American Farm Bureau Federation says this year’s food prices are resulting in the second-highest cost for an at-home July 4^th barbecue since 2013 when the survey began.

“High prices don’t mean more money for farmers, however. Farmers are price takers, not price makers. Their share of the food retail dollar is just 15%. The cost of running their farm is up — from labor and transportation to taxes,” says AFBF associate economist Samantha Ayoub.

Per AFBF, this year’s cost for an Independence Day cookout will cost $70.92 for 10 people. Included in the calculations are cheeseburgers, chicken breasts, pork chops, potato salad, strawberries and ice cream.

Last year was the highest cost found by the survey at $7.39 per person.

Year-over-year retail price increases in 2025 include:

2 lb. of ground beef: Up 4.4% to $13.33
Pork and beans: Up 20¢ to $2.69
Potato salad: Up 6.6% to $3.54

Notable reductions, compared to 2024, in food prices per the survey were:

3 lb. package of pork chops: Down 8.8% to $14.13
Chips: Down 10¢ to $4.80 a bag
Hamburger buns: Down 2.6% to $2.35