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Sir: The cow lease is a common practice here in Montana but you will not find many successful ranchers who will engage in the practice. It is better if a rancher has pasture to buy cattle and stock his pasture than lease. Moreover, in my area only the poorer rancher will accept lease cattle...

Fellows: I am reminded of the question on posed to a fellow that had won a million dollars as to what he would do with the money. He relied that " I guess I will ranch until it is all gone". You boys should remember at the cows will pay the interest but only when you sell the land will...