Partnering ideas with older gentleman.

[theplowboy]

I have been talking to a older family friend about running his cattle for him. His place has pasture and hay ground, I do all leg work and pay a % of the expenses, vet and feed bills.

What kinda agreement % should a get? Any advice on how we should set this up. He does not want to sell right now and I would like to learn the business and maybe move into it in the future. It's probably about 20 mins away from my current place.

[kato]

There are so many ways to do it. Start by taking into consideration what your percentage of expenses is, what your time is worth, who covers death loss and cull cows, and what the long term plans are.

You could take money, if you aren't sure you want to eventually have a cow herd.

Or you could take heifer calves, and over time, as the older cows cull themselves, replace them with your heifers, while increasing your share of the expenses. Eventually he could phase out of cattle in a tax friendly way, while you get in without the burden of debt.

That's two scenarios. I bet others can come up with lots more. Whatever you do, get it all written down and cross the T's and dot the I's. Protect both of your interests.

[ag-boy]

yes plowboy timing is wright cattle future looks better .
do not use today cattleprices !
this could and will change!
calve crop share like kato mention .
work on some trust like we cattle people all do
good luck have a great year ahead