Ranchonomics

Latest Episodes:

Annual Tax Planning with Jordan Steele Oct 29, 2024

In today’s episode, host John Haskell is joined by Jordan Steele to discuss the importance of annual tax planning for those in the farming and ranching industry. Jordan shares the importance of maintaining accurate records throughout the year and potential tax liabilities that come with running a profitable business. Jordan also offers valuable insight into various factors that should be considered in tax planning, including what has already occurred in terms of income and expenses, what is projected for the remainder of the year, and potential strategies to manage tax obligations.

In this episode, we cover:

Using the remainder of the year to prepare and plan for taxes
Strategies for managing tax liabilities
An overview of capital purchases, depreciation, and tax strategies
Why you should fill the bottom tax brackets every year

Make sure to hit subscribe/follow so you never miss an episode!

Find the complete show notes here: https://www.ranchrightllc.com/post/annual-tax-planning-with-jordan-steele-episode-17

Connect with Jordan:

Email him at jordan@ranchingforprofit.com
Ranching for Profit

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Value of Continuing Education with Dallas Mount Oct 22, 2024

In this episode of the Ranchonomics podcast, host John Haskell welcomes guest Dallas Mount, to discuss the value of continuing education within the ranching industry. John and Dallas explore why even during financially challenging times, investing in education is crucial for the growth and sustainability of your ranching business.

In this episode, we cover:

That meaningful professional development usually requires stepping away from the daily operations to gain new perspectives and knowledge
Investing in your education should be a part of your annual business plan and budgeted for accordingly
Common reservations and fears about investing in education
Viewing continuing education not as an expense, but as an investment with long-term returns

Make sure to hit subscribe/follow so you never miss an episode!

Find the complete show notes here: https://www.ranchrightllc.com/post/value-of-continuing-education-with-dallas-mount-episode-16

Connect with Dallas:

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Website: http://ranchmanagement.com

Connect with Ranch Right, LLC:

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Related Episodes:

Episode 4: Applying Sell Buy Marketing in Sheep with Aaron Helmick

Resources & Links:

Mentioned in this episode:

Learn more about Ranch Right, LLC

Website

Meat Processing Business with Aaron Reese, Provident Meat Company Oct 15, 2024

In this episode of the Ranchonomics podcast, host John Haskell has on guest Aaron Reese of Provident Meat Company in Fillmore, Utah to visit about his meat processing business. Aaron shares his journey of starting a meat processing plant during the pandemic and the challenges faced, specifically navigating government regulations. The discussion emphasizes the importance of effective communication between ranchers and processors, understanding beef grading, and managing expectations.

In this episode, we cover:

Overview of the meat processing business and its complexities
Challenges faced by smaller meat processors in a competitive industry
Importance of understanding beef grading and quality standards
Navigating custom cuts and managing customer expectations
The significance of building strong relationships between ranchers and processors

Make sure to hit subscribe/follow so you never miss an episode!

Connect with Aaron:

Check out their website
Follow on Instagram @providentmeatcompany
Follow on Facebook

Connect with Ranch Right, LLC:

Subscribe on YouTube
Follow on Instagram @ranchrightllc
Follow on Facebook
Check out the website

Resources & Links:

Mentioned in this episode:

Learn more about Ranch Right, LLC

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Market Timing with Bob Metzger - Part 2 Oct 08, 2024

Today’s episode is part two of a two-part series about market timing. Host John Haskell sits down with guest Bob Metzger to talk about expected returns and market risks to borrowing strategies and tax advantages. Bob shares valuable insights on cattle market dynamics, the importance of long-term investment strategies, and the critical need for continuous learning in the livestock business.

Bob Metzger is an Ag Econ graduate from Oklahoma State. He was formerly Vice President of Investments with A.G. Edwards, the fifth largest brokerage firm nationwide. Bob managed client assets of 180 million using stocks, bonds, mutual funds, and ETFs. Currently, Bob has a ranch in Hugo, Oklahoma and grazes cattle in various locations. He is a devotee of Bud Williams’ marketing and stockmanship.

Make sure to catch episode 13 which was Part 1 of this two-part series.

In this episode, we cover:

The economics of equity investing versus livestock investments
Advantages of attending marketing schools and gaining practical skills
The myth of modern financial struggles
Timeless advice to control what you can and ignore the noise

Make sure to hit subscribe/follow so you never miss an episode!

Find the complete show notes here: https://www.ranchrightllc.com/post/market-timing-with-bob-metzger-part-2-episode-14

Connect with Ranch Right, LLC:

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Check out the website

Resources & Links:

Mentioned in this episode:

Learn more about Ranch Right, LLC

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Market Timing with Bob Metzger - Part 1 Oct 01, 2024

Today’s episode is part one of a two-part series about market timing. Host John Haskell sits down with guest Bob Metzger to talk about market valuation, timing, and investment strategies in both the stock and cattle markets. Bob underscores the importance of staying invested, leveraging consistent reinvestment strategies, and the power of compound growth.

Tune in to learn about effective market risk management and how a disciplined investment approach can yield substantial long-term benefits.

In this episode, we cover:

Common mistakes in market timing
Influence of emotions (fear and greed) on market valuations and how staying invested can help mitigate emotional decision-making
Some examples and stories of the cost of poor market timing and long-term financial loss
Importance of long-term investment in cattle to manage market fluctuations

Connect with Ranch Right, LLC:

Subscribe on YouTube
Follow on Instagram @ranchrightllc
Follow on Facebook
Check out the website

Make sure to hit subscribe/follow so you never miss an episode!

Find the complete show notes here: https://www.ranchrightllc.com/post/market-timing-with-bob-metzger-part-1-episode-13

Resources & Links:

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Learn more about Ranch Right, LLC

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Ranch Right & Ranching for Profit are Partners with Dallas Mount Sep 24, 2024

In today’s episode, host John Haskell sits down with Dallas Mount to discuss their collaborative efforts in turning ranching operations into profitable businesses. The discussion dives deep into the importance of both education and implementation, the evolving landscape of regenerative agriculture, and the complementary roles Ranch Right and Ranching for Profit play in equipping ranchers for success.

Dallas is the owner of Ranch Management Consultants (RMC), home of the Ranching for Profit School and the Executive Link program.

In this episode, we cover:

Explanation of what each of our organizations do and how they complement each other
How we have similar missions but are serving the customer in different ways
How Ranching for Profit teaches the foundational principles and Ranch Right aids in implementing said principles
The power of healthy disagreements and the positive impacts of competition

Make sure to hit subscribe/follow so you never miss an episode!

Find the complete show notes here: https://www.ranchrightllc.com/post/ranch-right-ranching-for-profit-are-partners-with-dallas-mount-episode-12

Connect with Ranch Right, LLC:

Subscribe on YouTube
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Check out the website

Connect with Dallas:

Follow on Facebook
Connect with on LinkedIn
Follow on Instagram
Website: http://ranchmanagement.com

Resources & Links:

Mentioned in this episode:

Learn more about Ranch Right, LLC

Website

BONUS: Ranching.FYI SIMs Explained Sep 20, 2024

In today’s special bonus episode, Cinnamon Lenhart is on the show to introduce an exciting upcoming event happening for Ranching.FYI. Cinnamon shares her background as a fifth-generation rancher and her involvement in creating Ranching.FYI.

Ranching.FYI’s mission is to help ranchers make better decisions faster and one way they’re doing that is with the upcoming Strategic Ranch Simulation event. This event is designed to help ranchers implement effective, real-world decision-making strategies. You’ll run scenarios and practice in a way that is realistic, so that you can feel prepared to make difficult decisions in our fast-paced industry.

This particular event is focused on changes in the cattle market and is happening in Gillette, WY on October 28-30, 2024.

Join the Strategic Ranch Simulation by clicking HERE
Learn more HERE
Email us as ranching.fyi@gmail.com

Hope After Fire with Kyle & Kristin Marshall Sep 17, 2024

In today’s episode, host John Haskell talks with Kyle and Kristin Marshall, ranchers from Burwell, Nebraska, about their recovery from a devastating wildfire 18 months prior. The fire, which began as a controlled burn on a neighbor's property, spread uncontrollably, destroying significant portions of their ranch. The Marshalls discuss the emotional and financial impacts, their recovery process, and navigating insurance claims and federal assistance. They emphasize the importance of documentation, advocating for yourself, and community support, as they share lessons learned and their journey of rebuilding, resilience, and finding hope after fire.

In this episode, we cover:

The Marshall family’s experience following a devastating wildfire
The losses they incurred and the challenges they faced in navigating insurance claims and federal assistance
Advice for others who are faced with this challenge and practical tips to get through it
Their reflections of the journey and how both the good and the bad parts taught them lessons and ultimately gave them hope for the future

Make sure to hit subscribe/follow so you never miss an episode!

Find the complete show notes here: https://www.ranchrightllc.com/post/hope-after-fire-with-kyle-kristin-marshall-episode-11

Connect with Ranch Right, LLC:

Subscribe on YouTube
Follow on Instagram @ranchrightllc
Follow on Facebook
Check out the website

Connect with the Marshalls:

Follow on Facebook
Connect with on LinkedIn

Resources & Links:

Mentioned in this episode:

Learn more about Ranch Right, LLC

Website

Building Working Capital with Walter Lynn Sep 10, 2024

Today’s special guest is Walter Lynn and we’re talking all about building working capital and the importance of our approach to it right now. Walter explains the significance of understanding the dollar amount of working capital, maintaining liquidity, and setting appropriate targets. The conversation also covers strategies for improving working capital and navigating market cycles, providing practical advice for ranchers to manage their financial health effectively.

Walter Lynn has a decades-long portfolio of experience working with NGOs, businesses and industry leaders involved in all facets of production agriculture, agribusiness and conservation. He currently serves as a board member and was past chair of Holistic Management International. He had a niche CPA firm that worked with Ag producers in approximately 15 states with an awesome team from Springfield, Illinois.

In this episode, we cover:

What exactly working capital is and the basic components of it
How to improve working capital and how it changes
The significance of understanding liquidity and its impact on financial health

Make sure to hit subscribe/follow so you never miss an episode!

Find the complete show notes here: https://www.ranchrightllc.com/post/building-working-capital-with-walter-lynn-episode-10

Connect with Ranch Right, LLC:

Subscribe on YouTube
Follow on Instagram @ranchrightllc
Follow on Facebook
Check out the website

Connect with Walter:

Follow on X/Twitter @bovineacct

Resources & Links:

Mentioned in this episode:

Learn more about Ranch Right, LLC

Website

Working with Cattle Buyers with Wally Olson Sep 03, 2024

In this episode of the Ranchonomics podcast, we welcome guest Wally Olson to discuss working with cattle buyers. Something we hear often is how challenging it can be to work with cattle buyers; but they’re an important part of the business so today we’re sharing some advice on how to work better with cattle buyers. We’re also diving into various selling strategies and options, building strong relationships, and transparent communication.

Wally Olson is a firm believer in helping place an old head on young shoulders. Wally teaches cattle marketing schools and loves to help young people get started in ranching. For more information about Wally and to hear his story of ranching and learning visit his website www.olsonranchllc.com

In this episode, we cover:

Advice on how to work better with cattle buyers
Various selling strategies and options such as local sale barns, video auctions, and selling privately
The power of communicating up front about expectations, and differences in culture and regions
What the concept of one degree of separation is
Utilizing these professionals – their time, expertise, equipment – to grow your business

Make sure to hit subscribe/follow so you never miss an episode!

Find the complete show notes here: https://www.ranchrightllc.com/post/working-with-cattle-buyers-with-wally-olson-episode-9

Connect with Ranch Right, LLC:

Subscribe on YouTube
Follow on Instagram @ranchrightllc
Follow on Facebook
Check out the website

Connect with Wally:

Check out his website
Wally’s Online Marketing Schools

Resources & Links:

Mentioned in this episode:

Learn more about Ranch Right, LLC

Website

Applying Sell/Buy Principles in a Seasonal Operation with Marlene Moore Aug 27, 2024

On today’s episode, we welcome special guest, Marlene Moore onto the show to talk all about applying the principles of sell/buy in a seasonal operation. She shares insights on cattle management, marketing strategies, and financial sustainability. Marlene emphasizes the importance of continuous education, effective cash management, and regenerative practices. Her innovative approach showcases a great example of a successful and sustainable ranching operation.

Marlene and her husband, Dwight Maseberg, own and operate Shamrock Ranches near Wallace, Nebraska. Shamrock Ranches has been in Moore's family since 1949 and Marlene took over in 1982.

In this episode, we cover:

Her background and influences in ranching
Her insights on cattle management, marketing strategies, and financial sustainability
Just how valuable and necessary rest is
How Marlene is in the business of adding value to the animals
How vital it is to understand ourselves and our assets

Make sure to hit subscribe/follow so you never miss an episode!

Find the complete show notes here: https://www.ranchrightllc.com/post/applying-sell-buy-principles-in-a-seasonal-operation-with-marlene-moore-episode-8

Connect with Ranch Right, LLC:

Subscribe on YouTube
Follow on Instagram @ranchrightllc
Follow on Facebook
Check out the website

Resources & Links:

Mentioned in this episode:

Learn more about Ranch Right, LLC

Website

Sell Buy Market with Wally Olson Aug 20, 2024

In today’s episode, we welcome guest Wally Olson back onto the show to talk about sell buy market. In this conversation, we’re particularly focusing on cow-calf operations and seasonal grazing. We discuss how ranchers can optimize profitability by strategically managing cattle sales and purchases, considering factors like calving dates, market conditions, and the timing of sales. This episode offers practical strategies to help you as a rancher navigate the complexities of the cattle market effectively.

Wally is a firm believer in helping place an old head on young shoulders. Wally teaches cattle marketing schools and loves to help young people get started in ranching. For more information about Wally and to hear his story of ranching and learning visit his website www.olsonranchllc.com

In this episode, we cover:

What to consider with this strategy when it comes to income tax implications
The sell buy strategy doesn’t require any set of specific actions or a certain type of operation
John’s take that sell buy is more of a philosophy than a technique
Market dynamics and seasonal demand fluctuations

Make sure to hit subscribe/follow so you never miss an episode!

Find the complete show notes here: https://www.ranchrightllc.com/post/sell-buy-market-with-wally-olson-episode-7

Connect with Wally:

Check out his website
Wally’s Online Marketing Schools

Connect with Ranch Right, LLC:

Subscribe on YouTube
Follow on Instagram @ranchrightllc
Follow on Facebook
Check out the website

Resources & Links:

Mentioned in this episode:

Learn more about Ranch Right, LLC

Website

The Cattle Market is High with Bud and Rusty Williamson Aug 13, 2024

On today’s episode, we have Rusty and Bud Williamson, co-owners of Williamson Land & Cattle, on the show to share their thoughts on the sentiment that the cattle market is high. The conversation highlights the complexities and nuances of the cattle market and how you can’t just simply say it’s high, because it depends on so many factors and angles. Overall, you need to know your goals and the financials of your individual operation in order to make good decisions.

In this episode, we cover:

Implications of selling cattle at high prices and Importance of understanding replacement costs for cattle
Financial considerations for ranchers when selling cattle
Depreciation of cattle and its impact on financial decisions
Timing of cattle sales and its effect on profitability
Long-term strategy in ranch management
Opportunities for ranchers in the current market
Importance of proactive financial analysis and decision-making in ranch operations

Make sure to hit subscribe/follow so you never miss an episode!

Find the complete show notes here: https://www.ranchrightllc.com/post/the-cattle-market-is-high-with-bud-and-rusty-williamson-episode-6

Connect with Bud & Rusty:

Check out their website
Follow them on Facebook
Follow them on Instagram

Connect with Ranch Right, LLC:

Subscribe on YouTube
Follow on Instagram @ranchrightllc
Follow on Facebook
Check out the website

Related Episodes:

Episode 5: Marketing Breeding Stock with Bud and Rusty Williamson

Resources & Links:

Book a Free Discovery Call to Learn More about Ranch Right
Ranching for Profit
Ranching.FYI
Wally Olson, Olson Ranch LLC

Mentioned in this episode:

Learn more about Ranch Right, LLC

Website

Marketing Breeding Stock with Bud and Rusty Williamson Aug 06, 2024

On today’s episode, we have Rusty and Bud Williamson, co-owners of Williamson Land & Cattle, on the show to talk all about marketing breeding stock. They discuss their transition from a traditional family ranch to a successful business in marketing breeding stock. The Williamsons share insights on overcoming challenges, the importance of effective marketing in the cattle industry, and strategies for maximizing profits. They emphasize understanding market demands, maintaining accurate data, and building strong customer relationships.

This episode will leave you with an understanding of how critical a well-structured marketing plan is in achieving long-term success in your business.

In this episode, we cover:

Their journey from a traditional family ranch to a successful business in marketing breeding stock
Challenges faced in existing marketing systems and the decision to explore direct marketing options
Ideal customer profiles and the significance of accurate data for cattle sales
Overview of their marketing process
How building relationships through transparency and communication has served their business
The value of marketing in our industry and encouragement for ranchers to prioritize marketing as a key component of their business strategy

Make sure to hit subscribe/follow so you never miss an episode!

Find the complete show notes here: https://www.ranchrightllc.com/post/marketing-breeding-stock-with-bud-and-rusty-williamson-episode-5

Connect with Bud & Rusty:

Check out their website

Connect with Ranch Right, LLC:

Subscribe on YouTube
Follow on Instagram @ranchrightllc
Follow on Facebook
Check out the website

Resources & Links:

Book a Free Discovery Call to Learn More about Ranch Right
Ranching for Profit
Ranching.FYI
Wally Olson, Olson Ranch LLC

Mentioned in this episode:

Learn more about Ranch Right, LLC

Website

Applying Sell Buy Marketing in Sheep with Aaron Helmick Jul 30, 2024

In this episode of the Ranchonomics podcast, host John Haskell welcomes guest Aaron Helmick to talk all about sell buy marketing in sheep. They discuss how Aaron uses this strategy to optimize cash flow and profitability in his sheep and cattle operations. Aaron shares his journey into sell by marketing, the importance of building relationships with buyers and sellers, and the challenges of market fluctuations.

In this episode, we cover:

How Aaron uses this strategy to optimize cash flow and profitability in his sheep and cattle operations
The sheep bell curve and how it compares to the cow bell curve
The importance of factoring in your desired lifestyle as you make strategic decisions in your operation
Adopting sell-buy as a philosophy to apply in all aspects of life

Make sure to hit subscribe/follow so you never miss an episode!

Find the complete show notes here: https://www.ranchrightllc.com/post/applying-sell-buy-marketing-in-sheep-with-aaron-helmick-episode-4

Connect with Aaron:

Follow on Facebook

Connect with Ranch Right, LLC:

Subscribe on YouTube
Follow on Instagram @ranchrightllc
Follow on Facebook
Check out the website

Some of the links mentioned are affiliate links, which helps to support this podcast at no additional cost to you.

Resources & Links:

Mentioned in this episode:

Learn more about Ranch Right, LLC

Website

Cow Depreciation and Cow Longevity with Wally Olson Jul 23, 2024

In today’s episode, we welcome guest Wally Olson to the show to talk about cow depreciation and longevity. Wally argues that the traditional approach to cow depreciation is flawed and emphasizes the importance of tracking inventory value to improve profitability. He challenges the notion that cows cannot pay for themselves until they are eight years old and highlights the significance of capturing the appreciation of female cattle. The conversation covers the financial implications of cow-calf operations, the importance of reproductive efficiency, and strategic management of inventory value to build wealth in the ranching business.

In this episode, we cover:

The importance of tracking inventory value for profitability
Misconceptions about profitability of older cows
The value of focusing on reproductive efficiency and profitability
The Importance of heifer development and reproductive success

Make sure to hit subscribe/follow so you never miss an episode!

Find the complete show notes here: https://www.ranchrightllc.com/post/cow-depreciation-and-cow-longevity-with-wally-olson-episode-3

Connect with Wally:

Check out his website
Wally’s Online Marketing Schools

Connect with Ranch Right, LLC:

Subscribe on YouTube
Follow on Instagram @ranchrightllc
Follow on Facebook
Check out the website

Resources & Links:

Mentioned in this episode:

Learn more about Ranch Right, LLC

Website

Putting Cattle Out with Other People with Wally Olson Jul 23, 2024

In this episode of the Ranchonomics podcast, host John Haskell welcomes guest Wally Olson to discuss a collaborative strategy in the ranching business. Wally explains how putting cattle out with other ranchers can expand one's business without additional overhead costs. He highlights the benefits of different geographical locations and diversifying cattle environments. The conversation covers the importance of understanding regional rules and maintaining honest business relationships.

In this episode, we cover:

The benefits of putting cattle out with other people
How vital it is to have aligned values with the ranchers you’re collaborating with
The importance of contracts and being prepared with an exit plan
The ideal distribution of risk between all parties

Make sure to hit subscribe/follow so you never miss an episode!

Find the complete show notes here: https://www.ranchrightllc.com/post/putting-cattle-out-with-other-people-with-wally-olson-episode-2

Connect with Wally:

Check out his website
Wally’s Online Marketing Schools

Connect with Ranch Right, LLC:

Subscribe on YouTube
Follow on Instagram @ranchrightllc
Follow on Facebook
Check out the website

Resources & Links:

Mentioned in this episode:

Learn more about Ranch Right, LLC

Website

Introduction to Ranchonomics Jul 23, 2024

Welcome to the first episode of the Ranchonomics podcast! In this episode, host John Haskell introduces the show and his company, emphasizing the business side of ranching. The episode underscores the value of mentorship, teamwork, and continuous learning in the ranching industry. We are so happy to have you alongside us as we explore the intersection of ranching and finance, helping you understand your numbers and make informed decisions that propel your business forward.

In this episode, we cover:

The four pillars of business and the importance of understanding the non-production pillars of ranching
The comparison of the financial aspect of ranching to the spine of an animal and its connection to all other parts of the business
The role of financial literacy and application of financial knowledge in ranching
John’s journey of learning about finance on the job with the help of several influential mentors
Three important steps in their approach to their client’s financials

Make sure to hit subscribe/follow so you never miss an episode!

Find the complete show notes here: https://www.ranchrightllc.com/post/introduction-to-ranchonomics-episode-1

Connect with Ranch Right, LLC:

Subscribe on YouTube
Follow on Instagram @ranchrightllc
Follow on Facebook
Check out the website

Resources & Links:

Mentioned in this episode:

Learn more about Ranch Right, LLC

Website

Welcome to Ranchonomics! Jul 12, 2024

Welcome to Ranchonomics! Where we empower you to build a better ranch and transform your operation into a thriving business.

This podcast is brought to you by Ranch Right LLC, and together we will look at essential strategies, mindsets, and processes needed to take command of your financials and master the business metrics that make all the difference. If you are ready to start winning at ranching, then you are in the right spot.

With each episode of Ranchonomics, you will hear inspiring success stories, gain simple yet powerful financial literacy tips, and listen to insightful interviews with industry experts and real-life practitioners.

Whether you are a seasoned rancher or just starting out, we believe that managing a ranch shouldn't mean drowning in paperwork or missing out on valuable opportunities. Our mission is to help you see the link between your daily ranching operations and your financials that allow you to go from chaos to clarity and achieve your goals.

Join us as we explore the intersection of ranching and finance, helping you understand your numbers and make informed decisions that propel your business forward.

Subscribe now and start your path to a more profitable, less stressful ranching experience with Ranchonomics. It's time to harness the full potential of your operation.

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