Farmers are always looking for clever ways to cut costs and maximize profits, no matter whether grain prices are low or high. While universities, agribusinesses and others usually have plenty of sage advice to offer, farmers often want to hear from their peers as well.
That’s not always easy to do, especially in the middle of a pandemic where conferences and other events have gone virtual, and when even the local coffee shop might be a little less crowded than usual.
So, in the latest Farm Futures grower survey, we asked respondents to answer the question: “What are some lesser-known cost-cutting tactics you deploy on your operation?” Some common themes emerged among the responses. Here are six to consider as you ready yourself for the 2021 growing season.
Jan 21, 2021
Max Armstrong reports on mortgage interest rates and how they offer opportunities for farms. Max shares that in 2019 interest cost accounted for more than 10% of farm operating cost on nearly 20% of grain farms in the Illinois Farm Business Farm Management Association. Max shares that 45% of those farms have cost exceeding 5% of operating cost.
Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Max Armstrong, veteran farm broadcaster and host of This Week in Agribusiness.
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