If someone told you that you needed to increase revenue this year by 35%, you would probably think they just fell off the turnip truck. However, if they asked you if you could increase your price by 5%, you would probably think that's achievable. This same 35% increase over a three-year span would produce more than a 100% increase in net returns.
Check out these 7 facts about milk and dairy cattle.
Good production numbers are great, but management skills are a must in today's environment of tight margins and the endless pressures from third parties. Every opportunity you get to show your landlord, banker, integrator, employees, and others that you are a good manager will pay off down the road.
A well-developed marketing plan can take some of the price risk off the table, which is especially important in today's ag economy.
As an agricultural lender for more than 25 years, rarely do I receive a farm history/operation description with an application. Not only would it speed up the credit process, but it could also have an impact on whether or not the loan is approved. Learn how to tell your story with this 3 step process.