Bulk buying machinery can have huge cost savings, but if it means working with another operation, it can also come with a price. Whose land is priority, should all of it be ready at once? Who’s operating what? How do you manage fuel? Time? And how do you prevent conflict, in a transaction that’s all… Read More
By Terry Betker When the planets align and the growing season weather is perfect, and there are production shortfalls in other parts of the world and the markets respond positively, and when you’re able to price into market highs, life on the farm can be very rewarding. A possible scenario? Perhaps, but likely it’ll only… Read More
Maintaining good relationships should be a priority in any succession plan, but sometimes it’s hard to get past the financial and legal jargon associated with the process. For both reasons, a farm business should consider appointing a third party to mediate discussions. And, in the meantime, it doesn’t hurt to learn about some of your… Read More
The tide seems to be turning in the area of cattle feeder profitability with live cattle futures swinging upwards and feed prices trending downward. All of this will be for not if you do not manage your risk and lock in some profits. As Anne Wasko mentions in this weeks Beef Market Update, you need… Read More
What’s your risk management plan for your cattle business? If you don’t have one or would like to step up your understanding of price risk, managing returns and use of contracts, this free workshop may be for you. Beginning next week, Linus7, Agriculture Financial Services Corporation’s Cattle Price Insurance Program (CPIP) and RealAgriculture.com’s cattle market… Read More
It’s no secret that farm land prices across Canada have been red hot. Ontario has certainly reflected that trend, with sky-high prices in late winter this year leaving some very happy, and others more than a little concerned about the affordability of land. Ontario field editor Bernard Tobin spoke with Marleen Van Ham, appraiser and broker… Read More
A historic moment transpired last night. The Calgary Flames traded its leading scorer, captain and legendary player, Jarome Iginla, to the Pittsburgh Penguins for two marginal prospects and a late first-round draft pick in the 2013 entry. Long-time Calgary Flames fans are disappointed with the return for their greatest hero. Much of the sports media is critical… Read More
Tuesday nights are pretty important on Twitter if you’re involved in agriculture. Tuesday nights are #AgChat nights — a few hours of moderated conversation on a particular topic of interest for farmers, industry and anyone else interested in agriculture. Last night’s topic was farm business management. Farmers and aspiring farmers alike weighed in on questions… Read More
Knowing where you’re at as a business is a critically important component in making good business decisions. Building a financial dashboard gives you one of the most singularly important tools to be able to do that. A financial dashboard gives you a quick overview of the financial history of your business. It gives you a… Read More
Choosing financial software for your business is a custom fit kind of operation. There are a number of things to consider when you make that choice that are uniquely tied to your business, allowing you to expand and grow without having to switch programs. Ideally, your software should be as customizable as your business. With… Read More
Have you ever been to a farm meeting and there is a speaker talking about the cost of production? Do you ever feel like they are speaking no different than the teacher in Charlie Brown? Farming is business and businesses need to know their cost of production. Guessing your cost per acre is just not… Read More
Over the past couple of days, I have been reading and seeing a bunch of different articles in relation to keeping young farmers on the farm and attracting first generation farmers. My question? Why is it any different than any other entrepreneurial business. I’m sure that there are tens of thousands of people across Canada… Read More
Have you ever heard the saying, “hope is not a plan.” This is a great saying that is very applicable in agriculture. It is very critical to ensure that you are creating the proper roadmap. This should include projections on production, prices and yields. This also includes plans for capital expenditures in the coming year…. Read More
Farming is a unique business. It involves every aspect of business you can imagine from shovelling to marketing. It’s that diversity that can make successful farming a challenge. Many farmers may be good at one or two aspects of the buiness but not so good at the others. This can have devastating consequences if you’re trying… Read More
We have all heard the saying, “what goes up must come down,” but does that maybe not apply to land values? This week FCC released its newest version of the Farm Credit Canada Farmland Values Report and the results continue to verify the upward trend of land values. It is becoming ever more difficult to… Read More