In today’s Beef Buzz, senior farm and ranch broadcaster Ron Hays speaks with agricultural economist and professor at Oklahoma State University, Dr. Shannon Ferrell, who says ranch families across the country are recognizing that succession planning can no longer wait.
Ferrell says the response since presenting his ranch succession planning ideas at CattleCon 2026 has been strong.
“It’s been overwhelmingly positive. I think we’ve really hit a chord, because people are recognizing this has been an issue for all time, but they really see in the horizon of the next 20 years that the issue is going to become very acute.” He adds that with cattle markets strong, many producers see now as the right time to begin planning.
More Than Passing Down the Herd
Ferrell says many ranchers focus first on transferring cattle and genetics to the next generation, but the real picture is much larger. “Your herd doesn’t operate in isolation. There are so many other assets, so many other business relationships, and so many other family relationships that all have to be coordinated with that transition as well.”
He says producers often underestimate the value they have built over decades. “You’ve spent a lifetime developing the unique genetic fingerprint of your herd, and that’s a business value in itself.”
According to Ferrell, succession means preserving not only cattle and land, but also the purpose behind the operation. “It’s not just the how of the ranching, it’s the why of the ranching.”
Teaching the Next Generation the “Why”
Ferrell says agriculture families usually do a strong job teaching practical skills, but sometimes overlook the bigger mission. “We do a really good job of teaching the next generation how… but so often we don’t talk about the why.”
He says younger family members need to understand why past decisions were made, what goals shaped the herd, and how they can continue—or redirect—that vision moving forward.
Oklahoma Workshops Coming This Fall
Ferrell says he is partnering with Noble Research Institute on a statewide series of succession workshops beginning this fall, with sessions planned in Guymon, Woodward, Ardmore, Claremore, and Lawton.
The one-day workshops will cover foundational planning topics, followed by deeper two-day sessions in spring 2027. “We hope people bring multiple generations of their family and go through both workshops so they can really dive into the transition issue.” He says families bringing more generations may receive discounted registration rates.
First Step: Take Inventory
For ranch families feeling overwhelmed, Ferrell says the process begins simply. “The answer always is, we’ll just take one step.” That first step, he says, is to know exactly what the operation includes.
“Do your inventory, round up all your stuff, round up all your accounts, round up all your people, round up all your business relationships, and just kind of lay that out in front of you.”
The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Ag Network and is a regular audio feature found on this website as well. Click on the LISTEN BAR above for today’s show and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
