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
Category: Finance
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