We own our land, its paid off...and its still hard to make a good living with cattle at todays prices...What we do when prices are low, we sell trees. Back when we got this place there was some CRP land signed up for timber planting. Planted around 800 acres in pines. Some of these pines are now almost 30 yrs old. Husband bought logging equipment of craigslist and does the logging when he has time. So when prices go down on cows, he sells trees. I cant imagine relying just on cattle...If we sold all our land and put that money in the bank, we'd rake in around 250,000 in interest a year. SO, we should be able to make that a year or it doesnt make sense to keep on with what we are doing....and if you think that all goes in our pocket, it cost a lot of money to keep this all running. So our pocket money is way lower than that...lol...way lower.
Best way to start small cattle operation
- Thread starter Nicklausjames
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ClinchValley
Well-known member
One way i think will help me to succeed in this is to only buy things i can afford at the time. No credit card. No financing.
Spending money we haven't even made yet is a recipe for Bankruptcy IMO. Like has already been said a million times, none of us know what cattle will bring next year.
I know people succeed all the time in financing cattle. But it is not for me. I like to own what is on my property. I like to be my own boss. And that's hard to do with financing.
I know some disagree. Just my thoughts.
Spending money we haven't even made yet is a recipe for Bankruptcy IMO. Like has already been said a million times, none of us know what cattle will bring next year.
I know people succeed all the time in financing cattle. But it is not for me. I like to own what is on my property. I like to be my own boss. And that's hard to do with financing.
I know some disagree. Just my thoughts.
Rafter S
Well-known member
ClinchValley":2k22c7zu said:
:clap: :clap: :clap:
ClinchValley":wobru0dq said:
Agreed. But we all will be well to define what "succeed" means to us. The measures you mention will certainly help you prevent bankruptcy. However, they won't help you make money with cattle. After depreciation and the forever forgotten "opportunity lost" with money you've now spent that could have been potentially making money elsewhere, on 10 acres "succeed" should not be defined as "making money". It would better be defined as "have fun", "improve my knowledge", "gain new skills", "teach my kids about ....." , "live healthier", or other things associated with a frequently expensive hobby.
Jabes0623
Well-known member
cowgirl8":2f7md4lk said:
With the average savings account yielding 0.06% interest you'd have to put around 42 million $'s in the bank to make that happen.
Kudos to you!
dun":2xbkbp5p said:
