Making small changes to your beef operation can make all the difference when it comes to profitability. University of Missouri Extension agricultural […] The post 10 Tips for Mitigating Risk on Your Cattle Operation appeared first on ProAg.
Making small changes to your beef operation can make all the difference when it comes to profitability. University of Missouri Extension agricultural economist Joe Horner says plants, animals and business are three areas where small changes can make a farm less vulnerable to risk.
These 10 tips can tighten up your operation:
1. Have a separate bull pasture.
2. Follow your veterinarian’s advice and pick their brains to maximize value.
3. Always invest in good cattle-handling facilities.
4. Invest in good fences to use during weaning.
5. Add 50% extra hay inventory.
6. Routinely do soil tests.
7. Convert rangeland to warm-season native grasses.
8. Convert to rotational grazing.
9. Understand risk insurance programs such as Pasture, Rangeland, Forage (PRF) insurance and Livestock Risk Protection (LRP).
10. Seek counsel from an experienced and credible farm tax preparer.
Read more on these 10 ways to reduce risk on your operation here. Talk to your trusted ProAg agent for more information on Livestock Risk Protection (LRP) and Pasture Rangeland Forage (PRF) insurance.
The post 10 Tips for Mitigating Risk on Your Cattle Operation appeared first on ProAg.