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Advice for cow-calf producers in managing record 2014 income

cattle grazing-keya paha county 6-13It’s been a very good year for cow-calf producers.

For many of them, a historic year in terms of profitability, says Aaron Berger, an Extension educator with the University of Nebraska-Lincoln.

“We’ve had a really amazing year from a cattle standpoint—and also with these Livestock Forage Disaster Payments—and many cow-calf producers are in situation that they honestly have never been in before in terms of a cash flow-type situation,” Berger says. “Thinking through how to manage that is really important as we think about the next couple of months.”

Berger says increased income may present the opportunity to make capital investments back into the ranch or cow-calf operation, including range and pasture improvements.

“Looking at way to improve forage conditions—looking at ways to more effectively harvest the forage that we grow,” he says, “and I’m thinking here of infrastructure such as water development, fence, things like that that can really allow you to develop a grazing system that improves your ability to utilize your forage efficiently.”

Berger says producers should visit with their tax accountant about their current financial position and how income and investments can be managed to address tax liability for the 2014 year.

AUDIO: Aaron Berger

Link to more information on UNL’s Beef Cattle Production web site 

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