How can we make a better cattle future in Ky

[ddd75]

lol.

you're just plain crazy man.. a billion dollars to consider someone 'rich' ?? There are 2,200 billionaires in the world.. only '2,200 rich' people in the world huh??? everyone else .. dog poor... can't even buy a condo in miami..















back to the real world (non liberal world)
so lets say a land auction around here goes up.. they buy it.. 1.6 million.. writes a personal check.

nope.. he's poor. every poor person can buy that. no problem.

 

[tom4018]

the people you are talking about are extremely rare.. you have better chance at winning the lottery then becoming a youtube sensation.


I can take you on a tour around here and show you plenty of people.. hundreds.. that have made a fortune with crops / farming. They are driving around 300k tracked tractors pulling 120k tracked grain carts, , 150k planters, 5 semi trucks.. etc.etc.etc.etc.. all while holding 3-5 million+ in land value. Probably have 2-3 million in equipment, 2-5 million in land, and making probably 500k+ a year on owned and rented land / gov subsidies.

If farming didn't get them rich i'm not sure what did, maybe a farming fairy

Farm Credit just sold off some farms yesterday that one of those big farmers had yesterday. Ad in the paper showed they had over $1.5 million owed and the 2 farms only brought $600,000 range. Around $4000 an acre.

 

[Ky hills]

Interesting how the subject of ways to improve profits in cattle marketing( everybody knows it would be very little if any profit improvement) has turned into a debate on what is considered rich. That is the nature of a public discussion forum I reckon.
The subject of someone making money or more appropriately termed saving money by cutting expenses seemed to hit a few nerves. I don't think anyone was implying that you could become wealthy by using low quality cattle. I think the inference was that it was possible to do ok for ones self by not buying the best or latest and greatest of everything. It's very true we don't know there exact worth but, sometimes enough knowledge is known to draw the conclusion that some have done ok and are at the very least pretty comfortable in comparison. I think that is harder to achieve at this point in time but there have been several over the years that have made the right moves and investments. Land and or rental properties. Saving money by not buying new vehicles and equipment every year or few years. Just living a financially conservative lifestyle and not spending just because, can save money. Most of the examples I can think of are older folks many passed on by now they lived very modest lives, that most on here would not want to do, I'm not saying that there are secret multi million dollar farmers running around in large numbers because they didn't make a habit of buying $5 or $10,000 Bulls.

 

[tom4018]

Interesting how the subject of ways to improve profits in cattle marketing( everybody knows it would be very little if any profit improvement) has turned into a debate on what is considered rich. That is the nature of a public discussion forum I reckon.
The subject of someone making money or more appropriately termed saving money by cutting expenses seemed to hit a few nerves. I don't think anyone was implying that you could become wealthy by using low quality cattle. I think the inference was that it was possible to do ok for ones self by not buying the best or latest and greatest of everything. It's very true we don't know there exact worth but, sometimes enough knowledge is known to draw the conclusion that some have done ok and are at the very least pretty comfortable in comparison. I think that is harder to achieve at this point in time but there have been several over the years that have made the right moves and investments. Land and or rental properties. Saving money by not buying new vehicles and equipment every year or few years. Just living a financially conservative lifestyle and not spending just because, can save money. Most of the examples I can think of are older folks many passed on by now they lived very modest lives, that most on here would not want to do, I'm not saying that there are secret multi million dollar farmers running around in large numbers because they didn't make a habit of buying $5 or $10,000 Bulls.

Getting a live calf and the most weaning weight is how the average farmer is going to make money. Putting those pounds on the cheapest way is how you make money. I admit I have spent too much on my small operation trying to make a small family farm make money. I sometimes wonder where I would be if I didn't do it.

 

[Ky hills]

Interesting how the subject of ways to improve profits in cattle marketing( everybody knows it would be very little if any profit improvement) has turned into a debate on what is considered rich. That is the nature of a public discussion forum I reckon.
The subject of someone making money or more appropriately termed saving money by cutting expenses seemed to hit a few nerves. I don't think anyone was implying that you could become wealthy by using low quality cattle. I think the inference was that it was possible to do ok for ones self by not buying the best or latest and greatest of everything. It's very true we don't know there exact worth but, sometimes enough knowledge is known to draw the conclusion that some have done ok and are at the very least pretty comfortable in comparison. I think that is harder to achieve at this point in time but there have been several over the years that have made the right moves and investments. Land and or rental properties. Saving money by not buying new vehicles and equipment every year or few years. Just living a financially conservative lifestyle and not spending just because, can save money. Most of the examples I can think of are older folks many passed on by now they lived very modest lives, that most on here would not want to do, I'm not saying that there are secret multi million dollar farmers running around in large numbers because they didn't make a habit of buying $5 or $10,000 Bulls.

Getting a live calf and the most weaning weight is how the average farmer is going to make money. Putting those pounds on the cheapest way is how you make money. I admit I have spent too much on my small operation trying to make a small family farm make money. I sometimes wonder where I would be if I didn't do it.

I think that's where I'm at too. I think sometimes I have tried to play the game like I was bigger than I am. I agree with you a live calf is a lot more valuable than one that isn't, and the growth of that calf does the rest.

 

[Red Bull Breeder]

Takes all kinds of cattle to make our market system work. Lesser quality calves are what makes higher quality calves worth more. Some people can take some one else's junk and make money on it.

 

[kenny thomas]

Takes all kinds of cattle to make our market system work. Lesser quality calves are what makes higher quality calves worth more. Some people can take some one else's junk and make money on it.

Good comment RBB. I buy calves that need worked, something to eat. I make as much on them as I would a good calf but with a much lower purchase price.

 

[mwj]

A lot of those older well off farmers got that way by investing in and improving cheaper land.I can think of very few if any that did it off of livestock alone. Average cattle on economically feasible ground over the long haul works almost every time. :cowboy:

 

[76 Bar]

Some horses get $250k a pop for a stud fee.

Rarified air Branded. The remarkable Tapit began his career at $18,000 and eventually earned his way to $300,000. Dropped to $250,000 recently due no doubt to advanced age & likely impending fertility decline/anticipation of retirement from stud duty. In Europe Galileo still commands $700,000 private treaty. These are definitely the exception & not the rule. Plethora of 5 figure and less studs available in the Blue Grass and across the country.

 

[CattleMan1920]

the people you are talking about are extremely rare.. you have better chance at winning the lottery then becoming a youtube sensation.


I can take you on a tour around here and show you plenty of people.. hundreds.. that have made a fortune with crops / farming. They are driving around 300k tracked tractors pulling 120k tracked grain carts, , 150k planters, 5 semi trucks.. etc.etc.etc.etc.. all while holding 3-5 million+ in land value. Probably have 2-3 million in equipment, 2-5 million in land, and making probably 500k+ a year on owned and rented land / gov subsidies.

If farming didn't get them rich i'm not sure what did, maybe a farming fairy

Farm Credit just sold off some farms yesterday that one of those big farmers had yesterday. Ad in the paper showed they had over $1.5 million owed and the 2 farms only brought $600,000 range. Around $4000 an acre.

Wow! Very informative..Wouldn't it be interesting to be in Farm Credit's risk mitigation dept? I would absolutely love to know how many non-performing farm loans they have on their books. It may not be that many, but then again it could be high. The bank regulators and Farm Credit top brass know, but everyone else is probably in the dark.

We have not seen it in full swing yet, but a recession is coming, and housing/real estate has a way, of leading the charge.

 

[CattleMan1920]

Move those goalposts. Now its 5-10 million compared to a billion! You have backed yourself into an interesting question.


Since it takes a billion to make the cut, how many cattle producers will ever be ''rich''? Are your hero's in the industry, just bumbling poor farmers owned by the bank? :compute:

I'm talking on a larger scale. I'm sure there are people in Fleming County worth $10 million, and for here that is substantial. I was only saying in the grand scale, you can't go to far on the world stage with $10 million these days. That's all.

 

[CattleMan1920]

Some horses get $250k a pop for a stud fee.

Rarified air Branded. The remarkable Tapit began his career at $18,000 and eventually earned his way to $300,000. Dropped to $250,000 recently due no doubt to advanced age & likely impending fertility decline/anticipation of retirement from stud duty. In Europe Galileo still commands $700,000 private treaty. These are definitely the exception & not the rule. Plethora of 5 figure and less studs available in the Blue Grass and across the country.

Horses in Kentucky are high stakes....

https://www.nytimes.com/2018/05/04/your-money/horse-breeding-kentucky-derby.html

 

[Davemk]

I bet you can count on one finger the number of people in Fleming Co. worth 10 million +

 

[CattleMan1920]

I bet you can count on one finger the number of people in Fleming Co. worth 10 million +

You might need two hands. There are probably 7-10 based on their land holdings, businesses, and inherited wealth that would top 8 figures in Fleming County.

 

[littletom]

If you really think people in Ky have not made real wealth from farming alone. You need to get in your truck and drive south or west.