Agriculture has been on a roll for the last few years. Commodity and land values are up and interest rates are down — these are good times for farmers. How do you make the most of it? According to Dr. Danny Klinefelter, professor and extension economist with Texas A&M University, the time to prepare for a downturn in the market is during the good times. Farmers need to make the most of it by building up their net worth and making land purchases wisely.
Rob Saik, founder of the Agri-Trend Group of Companies, interviewed Dr. Klinefelter at this year’s Farm Forum Event held at Saskatoon, Sask., in late November, to discuss tips on farm business management. In this video, see what “What if?” scenarios you need to run on your farm to create a farm business battle plan for the years ahead.
If you cannot see the embedded video, click here.