Diversify Your Operation in 2017 to be Less Stressed Financially

November 10, 2016 09:12 AM
 
 

The last couple years, producers have faced tough economic headwinds, making choices outside your comfort zone could lead to more of a financial gain in the future.

Steve Nicholson of RaboAgra Finance said the message to farmers in the next year is to “think out of the box” because potential opportunities are out there to ease your financial situation.

Watch Nicholson’s different examples of diversifying your operation, including chia seeds and livestock, on AgDay above.

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Aaron
Olivet, MI
11/11/2016 07:08 AM
 

  I'm confused on the last statement made, basis, don't worry about the cash price focus on the basis thats where the money is made. Last I knew elevators didn't have to worry about the breakeven price of the growing crop, just the profit on the price paid and price sold. I'm pretty sure my banker is more worried about cash price as related to breakeven than basis. I know that watching the basis can add to my cash price, but you can bet that I'm more concerned about the cash price as it relates to my breakeven and try to use the basis to add some gravey to my profits or loss.

 
 
Kassem
Alberta Canada millet , MT
3/17/2017 11:32 PM
 

  Greeting my nick name is kasio I'm from Edmonton Canada I'm always looking for knowledge no matter what was American or Canadian agriculture is one I choosed Montana state because it the closest to my province Alberta Edmonton looking for every thing new in agriculture thanks .

 
 

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