Farm Business - General
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%.
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.
Understand how global headwinds and tailwinds will affect your operation.
China contains the largest population of any country in the world. All those mouths drive demand for your farm’s products.
Collect and analyze the best financial data to aid decisions on your farm operation.