WLJ - Opinion https://wlj.net/articles.sec-35-1-opinion.html Wed, 24 Aug 16 00:00:00 -0600 en hourly 1 Fighting fires https://wlj.net/article-35-fighting-fires.html Fighting fires

The nonprofit Property and Environment Research Center (PERC) produced an interesting report about the growing wildfire threat last week. They asked the question, “Did larger fires lead to larger wildfire budgets, or larger wildfire budgets lead to larger fires and greater suppression expenditures?”



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TAX TOPICS https://wlj.net/article-35-tax-topics.html TAX TOPICS

Contrary to what many agricultural families think, land does not need to be exchanged for other land. You can exchange land into many types of investment property, such as office buildings, rental houses, apartment complexes, storage facilities, retail strip malls, etc.



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Indicator cows https://wlj.net/article-35-indicator-cows.html Indicator cows

When you have just enough cows to name them all, it’s easy to characterize them by appearance, temperament and some might even say personality. Kids like to find names to fit. Twister was one of ours 20 years ago, an outlier for poor docility that left no daughters in the herd.



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Beef Talk: The future of beef... We need to get it right! https://wlj.net/article-35-beef-talk-the-future-of-beef-we-need-to-get-it-right_.html Beef Talk: The future of beef... We need to get it right!
Our children born today may have our grandchildren in 2041. Our grandchildren may have our great-grandchildren in 2066. And our great-grandchildren may have our great-great-grandchildren in 2091. As distant as it sounds, the birth of our great-great-great-grandchildren will occur early in the next century, 100 years from today.


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Guest Opinion: Which is bigger—Brazil-U.S. beef trade announcement or U.S. jobs report? https://wlj.net/article-35-guest-opinion-which-is-bigger%25E2%2580%2594brazil-us-beef-trade-announcement-or-us-jobs-report.html Guest Opinion: Which is bigger—Brazil-U.S. beef trade announcement or U.S. jobs report?
cattle producers. The CME announcement of changes to their Live Cattle contracts warrants a separate discussion and will not be covered here. Similarly, ongoing declines in expected upcoming corn prices are supportive to cattle markets but will not be outlined in this article.


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Investing cash proceeds from the sale of a farm or ranch https://wlj.net/article-35-investing-cash-proceeds-from-the-sale-of-a-farm-or-ranch.html Investing cash proceeds from the sale of a farm or ranch
I’ve asked families who have sold their farm or ranch and deposited all of the sale proceeds into certificates of deposits (CDs) why they chose to do so. Their response is typically: “I need to know my money is safe.” The irony is that while CDs are safe from market risk, they.




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Did You Know: Exceptions to the rule https://wlj.net/article-35-did-you-know-exceptions-to-the-rule.html Did You Know: Exceptions to the rule
More of any commodity drives prices lower while less supply moves them higher. Certainly great examples of the latter would be the drought of 2007 driving corn prices up and the cow herd liquidation driving cattle prices higher in 2014. So we do know this supply/demand concept works.


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Beef Talk: Tag calves for maximum marketing opportunities https://wlj.net/article-35-beef-talk-tag-calves-for-maximum-marketing-opportunities.html Beef Talk: 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.


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An open letter to the candidates on public land management https://wlj.net/article-35-an-open-letter-to-the-candidates-on-public-land-management.html An open letter to the candidates on public land management
We write this open letter to the U.S. presidential and congressional candidates and your party to offer guidance as to the path forward for federal land policy in the western U.S. These are the top 10 position statements that would aid in mitigating the rhetoric and in advancing viable solutions associated with the working landscapes in the West:.


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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.


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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.


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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.


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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.


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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.


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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.


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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.


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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.


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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.


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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.


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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



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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?.


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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.


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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.


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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.



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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.


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