Farm Business - General
This data confirms the obvious — there is plenty of income and cash in farm country and is being reflected in the record prices being paid for farmland.
The world is transforming as the COVID-19 pandemic advances technology and cultural shifts in how business is done.
I encourage farm leaders to focus less on needs to be filled season-to-season and more on needs in the 24-to-48-month horizon.
Fertilizer is cited as the No. 1 concern. Plus, 45% of farmers say their plans for this spring are being impacted by the tight machinery inventory, according to the Ag Economy Barometer.
From the Great Resignation to factors that fueled costs for farmers, John Phipps looks back and outlines some of the key lessons learned in 2021.
Unexpected expenses arise all the time, especially on the farm.
Farmers often ask if they can own farmland in an IRA. The technical answer is yes. But the more important and practical answer is you typically should not own farmland in an IRA.
This past year is one many of us would sooner forget than remember.