Business
For 15 straight months, the rural economy has posted healthy and consistent growth.
Make education a priority in 2022 by joining Top Producer for the Top Producer Summit.
Beyond what you pay for food and consumer goods, inflation impacts your balance sheet.
Join your farming peers at the Online Top Producer Summit.
The Top Producer Summit online event kicked off Feb. 22, and the fun continues through Feb. 23.
U.S. net farm income, a broad measure of farm profitability, is currently forecasted at $113.7 billion, down 4.5%, according to USDA’s most recent Farm Sector Income Forecast.
During the Top Producer Summit, which was held Feb. 14-16 in Nashville, Top Producer honored five farm operations.
Move your succession plan forward with collaborative experts.
There may never be a more important time to focus on the relationships with your employees.
“Nearly every working manager is more competent and comfortable doing tasks,” says Bob Milligan with Dairy Strategies. “That makes it easy to avoid the people side. It is rational but not effective.”
In theory, adding a value-added enterprise sounds like the perfect reaction to fluctuating commodity prices.
Inflation is exceptionally difficult to tame, says Chip Flory, Farm Journal Economist and “AgriTalk” Host: “To tame it, you have to kill it. If you kill it, you kill the economy, and it sends you into recession.”
The Federal Open Market Committee’s (FOMC) inflation target is 2%. Yet in February the rate, which is the measure of general price trends throughout the economy, was 6.4%.
To ensure a smooth planting season your team needs to be firing on all cylinders. They also need to be rested and excited for the task at hand.
Need a good conversation to fill some tractor or road time this spring? Listen to “The Farm CPA Podcast” with Paul Neiffer.
The power of encouragement on your farm is massive, says Bob Milligan, senior consultant at Dairy Strategies.
You are likely making plans for seasonal help. If that team includes children or grandchildren, you might want to consider setting up a custodial Roth Individual Retirement Accounts (IRAs) for them.
Collect and analyze the best financial data to aid decisions on your farm operation.
Think about how your farm has grown in size and scope over the past decade. Has your financial reporting followed suit?
A focus on people turns uncertainty into a business revolution.
To improve productivity in your operation and reduce stress in your family business, set these helpful ground rules.
See how rising costs impact you and your family.
As the leader of a business, you have two choices. As trends and economics change, you can adapt and capitalize on the opportunities, or you can stay the course and watch your business decline.
For the first time since September 2020, the rural economy is showing signs of weakness.
If your summer farm help involves your child or grandchild, you can combine that hard work with a financial life lesson.
As with any relationship, you must invest time and effort to build a rapport with your landlord. Follow these four suggestions.
“If you do not run your day, your day will run you,” says Mary Kelly, CEO of Productive Leaders. “Having control of your time allows you to plan for the success you want.”
How can you reward team members for good work, increase employee retention and achieve your operation’s goals? Consider implementing an incentive pay system to reward your farm employees.
The Top Producer of the Year Award recognizes producers who demonstrate excellence in the business of farming, including marketing, farm finance, family and employee relations, technology and environmental stewardship.