WLJ - Opinion https://wlj.net/articles.sec-35-1-opinion.html Sat, 30 Jul 16 00:00:00 -0600 en hourly 1 Kay's Korner https://wlj.net/article-35-kays-korner.html Kay's Korner
Upper Iowa Beef in Lime Springs designed a traceability system that would allow consumers who bought its beef in a retail store or ordered it in a restaurant to use their smart phones to scan a QR (Quick Response) code to find out about the beef’s origins....]]>
Potential issues with selling ranch property owned in entities https://wlj.net/article-35-potential-issues-with-selling-ranch-property-owned-in-entities.html Potential issues with selling ranch property owned in entities
While most farmers and ranchers own their property in an LLC, partnership, or S Corporation, some families still own property in a C Corporation. When a C Corporation sells appreciated real estate, it must pay tax on the gain at the corporate tax rate....]]>
Tag calves for maximum marketing opportunities https://wlj.net/article-35-tag-calves-for-maximum-marketing-opportunities.html Tag calves for maximum marketing opportunities
Astute cow/calf sellers know now is the time to maximize the number of marketing programs for their calves. This is not too early to be checking marketing outlets to see how the calves should be identified so every sales opportunity can be realized, which pays out value that, in the end, increases net profit.


...]]>
Financial stategies for selling ranch property https://wlj.net/article-35-financial-stategies-for-selling-ranch-property.html Financial stategies for selling ranch property
The IRC Section 1031 Exchange, the IRC Section 664 Charitable Remainder Trust, and the IRC Section 121 Principal Residence Exclusion are powerful tools for saving taxes on the sale of a farm or ranch. Below is an example of a family using these tools on the sale of their Montana ranch.


...]]>
New product development keeps beef king of the proteins https://wlj.net/article-35-new-product-development-keeps-beef-king-of-the-proteins.html New product development keeps beef king of the proteins
Like most of you, I’ve grown up in ranching, following several generations of my family in the cattle business. It’s been a way of life, and it’s something I really enjoy. While the ranch operation is predominantly cow/calf, I also began retaining ownership and taking them all the way to the feedlot.


...]]>
Should you retire to a more tax-friendly state? https://wlj.net/article-35-should-you-retire-to-a-more-tax-friendly-state.html Should you retire to a more tax-friendly state?
I normally avoid state income tax issues in my column, given that our readership is national. But you might be amused at some of the political discussion in Minnesota over the state’s latest income tax hike. And there’s a lesson to be learned about a retired farmer’s ability to escape a high-taxing state.


...]]>
Commercial beef production benchmarks for 2016 https://wlj.net/article-35-commercial-beef-production-benchmarks-for-2016.html Commercial beef production benchmarks for 2016
To help producers understand production goals better, the North Dakota State University Extension Service, through the North Dakota Beef Cattle Improvement Association (NDB- CIA), utilizes the CHAPS program to calculate beef cattle performance by analyzing production traits.


...]]>
TAX TOPICS https://wlj.net/article-35-tax-topics.html TAX TOPICS
If this person did a 1031 exchange on the $4 million property, the $875,000 that would have gone to pay taxes could be invested in additional real estate. Assuming the $875,000 of real estate returned 7 percent per year, it would provide an additional $61,250 per year of income.


...]]>
Commercial beef production benchmarks for 2016 https://wlj.net/article-35-commercial-beef-production-benchmarks-for-2016.html Commercial beef production benchmarks for 2016
To help producers understand production goals better, the North Dakota State University Extension Service, through the North Dakota Beef Cattle Improvement Association (NDB- CIA), utilizes the CHAPS program to calculate beef cattle performance by analyzing production traits.


...]]>
How to save taxes on the sale of a ranch https://wlj.net/article-35-how-to-save-taxes-on-the-sale-of-a-ranch.html How to save taxes on the sale of a ranch
To reduce their tax bill each year, families simply invest in machinery, equipment or other assets for their ranch. When selling their ranch, however, many ranch owners are either unaware of or misinformed about the tax-saving strategies available to them.


...]]>
Kay's Korner - Futures’ chaos begs urgent action https://wlj.net/article-35-kays-korner.html Kay's Korner - Futures’ chaos begs urgent action
The aberrant behavior of the futures m a r k e t continues to play havoc with the live cattle market and cattle feeders’ ability to hedge cattle. Its irrationality and volatility have caused producers to lose hundreds of millions of dollars in the past 18 months.


...]]>
Vet's Perspective - Congenital abnormalities in calves https://wlj.net/article-35-vets-perspective.html Vet's Perspective - Congenital abnormalities in calves
Reproductive technology and mating programs have significantly improved herd performance. However, decreasing the effective gene pool in some instances may result in a higher frequency of recessive gene traits and defects. Congenital bovine abnormalities can be caused heritable traits, toxin effects, nutritional inadequacies, and infections.


...]]>
Horse sense https://wlj.net/article-35-horse-sense.html Horse sense

The House Natural Resources Subcommittee on Federal Lands met last week to discuss the wild horse problem. They discussed challenges and potential solutions to the Bureau of Land Management’s (BLM’s) Wild Horse and Burro Program. Steve Ellis, Deputy Director of Operations at



...]]>
Beef Talk https://wlj.net/article-35-beef-talk.html Beef Talk
“What am I doing?” The question came from a perplexed young student who was part of a schoolsponsored field trip to the Dickinson Research Extension Center. These young people were spending the day in an agricultural environment, walking through our pastures and fields, as well as the farm shelter belts planted in the past decades....]]>
Black Ink - Multitast or multi-plan https://wlj.net/article-35-black-ink.html Black Ink - Multitast or multi-plan
I used to think multitasking should be a top goal of management here. Within natural systems like forage and cows, lots of things are always going on at the same time. What if I could do enough things correctly and on time to fit those systems together just right?.


...]]>
Guest Opinion - The value ranchers bring to the table https://wlj.net/article-35-guest-opinion.html Guest Opinion - The value ranchers bring to the table
Ranchers are the original stewards of the West. They are the definition of sustainability as rangelands and wildlife habitat thrive where ranchers are properly managing the land.


...]]>
How social media is changing beef marketing https://wlj.net/article-35-how-social-media-is-changing-beef-marketing.html How social media is changing beef marketing
It’s no secret that the increased use of social media by the American public has changed marketing in all sectors. That’s why the Beef Checkoff Program has turned almost exclusively to these channels to efficiently and economically market beef to consumers.


...]]>
Organic control https://wlj.net/article-35-organic-control.html Organic control

It’s been interesting watching the organic food movement develop over the past couple decades, especially when it comes to beef. I don’t have any concerns over the organic grass-fed beef production systems that have evolved. If ranchers are able to produce it and market it at a higher value.



...]]>
Beef Talk https://wlj.net/article-35-beef-talk.html Beef Talk
My thoughts included concepts from the UN report. How exposed should we be to the world around us? That is a very serious and deep question. Why? Simply put, our world is a massive living system utilizing all the living to sustain itself. Living is part of that process, a process of recycling and, ultimately, reclaiming....]]>
Legally Speaking https://wlj.net/article-35-legally-speaking.html Legally Speaking
In a remarkable decision, the Seventh Circuit Court of Appeals reversed a Tax Court opinion dealing with a Thoroughbred racehorse owner’s activities. This case is important to the livestock industry because IRS hobby loss regulations, the subject of the opinion, apply to livestock as well as horse activities....]]>
Time to quit horsing around https://wlj.net/article-35-time-to-quit-horsing-around.html Time to quit horsing around
Boarding wild horses must be a pretty good business and it looks as if it will only get better. I’ve seen many feedlots around the West with thousands of the wholesome creatures penned up and getting regular groceries. This past spring I even saw a band of burros in central Utah enjoying fresh hay.


...]]>
Opinion: Taste-testing the fake burger https://wlj.net/article-35-opinion-taste-testing-the-fake-burger.html Opinion: Taste-testing the fake burger
When I heard that the soft release of this new attempt at fake beef was a scant 40 miles away from our office, I changed my evening plans to be there and try it. I’ve tried products claiming to be beef stand-ins before and was skeptical as they have all been pretty bad.


...]]>
Ready? Willing? SERVE! https://wlj.net/article-35-ready-willing-serve_.html Ready? Willing? SERVE!
I was in my tractor listening to a radio report one day and the message I got was how disassociated people are with agriculture. I took it a step further and found 98 percent of the population today are not associated in any way with ag and that’s a big challenge for our industry.


...]]>
Kay's Korner - Holiday sales are vital https://wlj.net/article-35-kays-korner.html Kay's Korner - Holiday sales are vital
The second most important holiday week/weekend for retail beef sales is now behind us. But how sales went over the Memorial Day week will be vital for the wholesale beef and live cattle markets this month. Retail sales over the holiday week last year were a bust.


...]]>
Beef Talk - Cut expenses smartly, not quickly https://wlj.net/article-35-beef-talk.html Beef Talk - Cut expenses smartly, not quickly
Forward or backward are two options. Once the clutch is engaged and the accelerator pressed, action is necessary. Is the operation in “drive” to move forward or in “reverse” to move backward? Let’s hope cattle producers are moving forward, but slowly, however.


...]]>
The big experiment - The big experiment https://wlj.net/article-35-the-big-experiment.html The big experiment - The big experiment
A couple months ago the Utah legislators in the House Natural Resources, Agriculture and Environment Committee passed HB276, The Utah Public Lands Act, which would create the Utah Division of Land Management.


...]]>
Beef Talk - Producers worry, calves survive https://wlj.net/article-35-beef-talk.html Beef Talk - Producers worry, calves survive
For most, I doubt that you do because we all should know that a fish out of water dies. Perhaps it took a sad day growing up, when the goldfish was found at the bottom of the bowl, to realize someone did not hold up his or her commitment to the fish and provide water.


...]]>
Guest Opinion - Fuzzy language https://wlj.net/article-35-guest-opinion.html Guest Opinion - Fuzzy language
There are many words we use every day that somehow defy precise definition. Turning those fuzzy words over to the government to set food standards is a big mistake. Two words under consideration for definition by the FDA are “natural” and “healthy.


...]]>
Vet's Perspective https://wlj.net/article-35-vets-perspective.html Vet's Perspective
One of the “small” but very important aspects of nutrition involves adequate mineral intake. Minerals are solid chemical compounds that when given in proper amounts will interact with normal biological processes in the body in order to maintain nerve function, digestion, hormone control, and several other pathways.


...]]>
Quality sells https://wlj.net/article-35-quality-sells.html Quality sells
Having another marketing option available will be exciting to watch but the big question mark is: Will the Southern Plains feeders use it? They have cited transaction costs as their main motivation for using the formula pricing system. It will be key for this new market to establish a certain amount of volume to make this thing work.


...]]>