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as the story goes…

Steve Redd is a 5th generation rancher. He knows what it takes to be successful on dry land permits, as he has raised cattle across Arizona, Colorado, Nevada, and Utah. The joys and challenges of ranching life are only heightened when thinking about earning a living on public land permits in some of the driest states across America. Year after year, Steve pushed through and navigated the arid nature of his ranching farmland, but it was always a struggle to get ahead. Season after season, he would make enough to pay the bank for the land, but it was hard to maintain or even expand the ranch. That was until he heard about PRF, although Steve wasn’t convinced on the spot. 

PRF stands for Pasture, Rangeland, & Forage Insurance, and it was created by the Risk Management Agency (RMA), which is a division of the United States Department of Agriculture (USDA). The reasoning behind the creation of PRF was to help ranchers become more profitable on dry land permits. Statistics show that currently 80-90% of Midwest ranchers have some form of drought insurance to help with the financial toll a dry season can have on their herd or crops. Still, with this information, Steve wasn’t sure about the program when he learned about it in 2013. Thinking of himself as a “pretty open-minded guy,” Steve felt he had looked into PRF enough. He had explored the insurance and felt it just wasn’t for him. Ultimately, Steve wanted to get back to what he did best: ranching.

However, Steve’s journey with PRF did not end here. Steve needed a little convincing from a crop insurance agent by the name of Payden Stewart. At the time, Steve didn’t know Payden, but he soon would get to know him a lot better. Payden came out to where Steve lived in 2015 and “camped in a hotel” for 2 days to share more with Steve on the value of this insurance for his ranch. After countless hours of investigation and questioning, Steve came around to the fact that this program was not a scam, but a way to help make him more successful in the long run. Historical data, provided through resources from Payden, showed Steve would make a net gain 13 out of 15 years. The 2 years Steve wouldn’t have a gain, he would make it up, and then some, from the other 13 years of profit. “If I could make money and good money with cattle, I would feel I was doing great,” Steve remarked, remembering the day he committed to PRF. So, Steve took advantage of this program in 2016, even though he had once thought it would be a risk.

That following fall, a dry season hit Steve’s ranch with 2 consecutive months with below average rainfall. His PRF kicked in, and Steve was able to not only pay the bank their monthly quota, but he had money left over to help provide for his family and his ranch. When the same thing happened the next year, with the same financial gain occurring, Steve’s wife started to take notice about the potential PRF could have among the people around them. She urged Steve to share this program with their friends and community. She knew he understood the statistics and historical data; he would be perfect for this line of work because of his experience as a rancher and knowing PRF in and out. This is what set Steve apart from others doing the same line of work. Drought insurance essentially saved his ranch and now Steve could help others in the same way he had been facilitated.

Steve’s decision to purchase and now sell PRF made all the difference. “What a blessing! It was a lightbulb to me,” as Steve spoke about what PRF has meant to him. Nevertheless, this can be the same for you. No matter if you have 10 minutes or a couple of hours, Steve or one of his team members would love to speak with you about drought insurance. It has changed so many people’s lives for the better, and it can be revolutionary in the things you are already doing on your farm and with the things you plan to do in the future. PRF is worth your time to become educated, and that is exactly what Steve can provide. He understands ranching and the work and effort it takes for a bottom line in the profession. Additionally, his expertise and understanding of PRF will give you peace of mind in deciding what is best for you and your life. Give Steve Redd and Redd Summit Advisors a little of your time today and be rewarded with their guidance moving forward. 

Hear Steve’s interview on Working Ranch radio show.

Watch Steve’s interview with Brooke

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