It’s time for a harvest farm finance check-in

Financial planning and management of your farm business is a year-round activity, but just after harvest is an ideal time to take stock, review where you’re at, and begin planning for next year.

I think many times in any small business we are energetic on the planning, but fall flat on the follow up at the end of the year. If we’re really going to create that process for improvement, a farm financial plan needs reviewed and updated each year.

Sara Schafer, editor of Top Producer magazine, published a great piece on AgWeb discussing the six questions you need to ask yourself post-harvest, and I wish I had written this piece. But using is as inspiration for this RealAg Radio piece, I run through some of the budget realities you may find it helpful to assess: from prices and yields, potential operating loan shortfalls, what to discuss with your lender, and more. (Listen below for more)

 

Shaun Haney

Shaun Haney is the founder of RealAgriculture.com. He creates content regularly and hosts RealAg Radio on Rural Radio 147 every weekday at 4:30 PM est. @shaunhaney

Trending

Wheat prices jump into August — This week in the grain markets

This week, winter wheat prices touched a three-year high, but it didn’t last. Chicago SRW wheat prices for September 2018 gained 5 per cent or about 26 cents US/bushel to close at $5.56. While the December 2018 contract was up 5.4 percent — or nearly 30 cents — to finish a tad under $5.80. In…Read more »

Related

Leave a Reply

 

This site uses Akismet to reduce spam. Learn how your comment data is processed.