The Farm Financial Standards Council Annual Meeting
The annual Farm Financial Standards Council meeting is being held this week in beautiful Ranchester Wyoming at the Padlock Ranch. The ranch contains about 420,000 acres and has three main sections located primarily in Southeastern Montana with part of it in Northeastern Wyoming just north of Sheridan.
Wednesday afteroon the council had their committee meetings and it was very well attended. That might about 60 of us including many family members had dinner at the ranch. The ranch has a very nice conference center. I did try to cross the Tongue River in my bare feet. I got half way and wussed out due to very tender feet. My youngest was with us and he has what we call Bam Bam feet and he went across and back in about 30 seconds. The Tongue River is only about 30 feet across and about a foot deep at the ranch.
Today we are leading off the meeting with a talk on how the ranch operates. The ranch is comprised of deeded property plus many different types of leases including many leases with the Crow Indian Nation. As you can guess dealing with the Crow Nation creates unique issues that other ranches across the country may not have.
The ranch normally calving season is in May/June period instead of a normal spring calving season. This is easier on the cow to get through the winter season. The calves are then backgrounded on their own feedlot. The farming operation provides a fair amount of corn silage on ground that appears to be more suited for a gravel pit but it works well. However this area can have frost in June or August so this silage comes from very early season corn.
The family is very committed to sustaining the environment. They are continuing to enhancing the Tongue River. All of the irrigation comes out of the Tongue River or its tributaries.
I will provide a few posts today on the meeting. I am writing this on my IPad since internet is not available. I apologize up front for any formatting mistakes.
Paul Neiffer CPA
CliftonLarsonAllen LLP
Paul Neiffer is a certified public accountant and business advisor specializing in income taxation, accounting services, and succession planning for farmers and agribusiness processors. Paul is a principal with CliftonLarsonAllen in Walla Walla, Washington, as well as a regular speaker at national conferences and contributor at agweb.com. Raised on a farm in central Washington, he has been immersed in the ag industry his entire life, including the last 30 years professionally. Paul and his wife purchase an 180 acre ranch in 2016 and enjoy keeping it full of animals.
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