Challenging times require bold steps to drive revenue and positively impact the bottom line. Farmers from California to Iowa to Virginia are checking out new ideas, such as an equipment sharing platform, to help them thrive, not just survive, during these tough times....More
Farmers need to get serious and truly appreciate how much family living expenses can impact the profitability of a farm business. The numbers tell us that family living cost and taxes are two areas in which to capture significant savings....More
Nebraskans Angela and Kerry Knuth are streamlining their operation by: Using a new scenario-analysis tool to evaluate cropping options; saving costs with variable-rate prescriptions that reduce phosphorus on high-testing soils; testing a plan to rent out fields planted in cover crops for cattle grazing....More
Recently, a Kansas producer of the Baby Boomer generation asked me, “Hey Doc! When will economics stabilize?” Well, it is certainly understandable for producers to seek some sense of economic normalcy in these days of economic reset. My response, however, may not deliver the comfort for which this producer was hoping, but it is definitely not all bad news. ...More
Commodity Classic is always one of my favorite events. There is so much information to take in; it's a bit overwhelming. We've pared down what we've learned so far while in New Orleans, and are sharing some of the best things we've learned, from weed resistance issues and agvocating to a money-back guarantee on prescription services.
With this list of potential reductions, including land rent, capital expenses labor and other costs, hopefully our producer focus groups provided some ideas on which you will expand. An economic reset offers the opportunity to re-evaluate and improve your operation both for short-term and long-term sustainability....More
This is a starting point in the cost-cutting process, as suggested by producers. Granted, this is a tough process that requires time, examination and inevitably, some hard choices. However, developing a strategy to cut costs strengthens both short-term and long-term sustainability....More
Low prices continue to impact farmers across the Corn Belt. In order to break even, many farmers are looking at cutting costs. Here are some of our best tips and ideas for cutting costs on the farm, from specific ideas, to fertility management to analyzing data.
In the 5 ag stories to read this week, brush up on Anthracnose management and get tips for keeping your stored grain in good condition as temps fluctuate. Read the latest profit projections and some considerations when choosing crop insurance. Finally, enjoy a list of things that irritate farmers.
When he decided to take parts of five fields out of corn and soybean production a year ago, Wayne Fredericks was convinced that converting the ground to wildlife habitat was a sound decision for his pocketbook and the environment. A year later, with crop prices even softer, he thinks the reasoning behind the decision is even more compelling....More
I believe that your data is the only place to look to make cost-cutting decisions. These examples about which farms to farm, necessary traits and fertilizer application use data to help farmers make choices on which expense to cut on the farm....More
After big nitrogen losses from excessive rains in 2009, Illinois farmer Corey Holmes adopted nitrogen management strategies that boosted yields 15 bushels/acre and reduced nitrogen use about 10 percent....More
In the 5 agriculture stories to read this week, use an online calculator to help determine profitable delivery options and read the latest on farm incomes and land values. Keep an eye out for the USDA planting intention survey and use your phone to scout crops. Finally, enjoy a cow heart for Valentine's Day!
Regardless of crop or livestock prices, the global economic forces of the U.S. strong dollar and weaker demand continue to suppress revenues. Coupled with elevated fixed and variable costs, lower commodity prices and global uncertainty, many producers are pressed to face negative margins or at best, a breakeven point in income....More
In late July, Zachary Yoder trudged into tasseling 8-foot tall corn to ground-truth his first-ever smartphone message alerting him that satellite imagery had detected an unusual area in the irrigated field....More
By Groundhog Day, one needs to have business family, and personal goals clearly written out for the year. These written goals should be SMART: specific, measurable, attainable, rewarding and timely....More
It is important to note that the leading economic indicators show concerning signs of a slowing or contracting U.S. economy. Specifically, manufacturing, energy and other basic industries will see the slowdown first. However, regardless of the industry, a recession in the U.S. would create widespread impact....More
In the 5 ag stories to read this week, download crop budget spreadsheets and a 2015 tax guide. Learn about nematode research and the impact of late weed control. Finally, enjoy some RC tractors in action.
In the 1950s, CSD advertisers offered a lot to readers. From combines and tractors to an inoculant, vacuum and solvents, check out these products from Phillips Solvents, John Deere, Cargill, Allis-Chalmers and more.
In order to successfully navigate the economic reset, one must factor in outside influences. Factors such as the U.S. economy will bear direct impact on future profit potentials for farm businesses. Monitoring key indicators can help you better direct and focus your strategic planning for future sustainability....More
Charlie Hammer has never done the same thing for too long, except when it comes to wheels on soil. He has deliberately traveled the same controlled-traffic (CT) lanes on his Beaver Dam, Wis., farm to limit soil compaction....More
2016 certainly will not be a boring year. While agriculture has experienced various economic resets before, circumstances today are different. As an interconnected industry, global as well as domestic factors such as, China or the U.S. election will bear direct impact on agriculture and future profits....More