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11
Feb

The Importance of Liquidity

February 11, 2020

By: Chris Laughton

In the financial world, your cash position is referred to as liquidity, i.e. your ability to pay your bills. Liquidity is important to any agricultural business, yet it may have a heightened significance depending on what you produce, how long it takes you to produce it and how it’s sold or marketed.

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Posted In: Financial Management

Tags: ag expenses, ag revenue, balance sheet, business management, cash accounting, cash flow, farm finances, farm revenue, financial management, net worth
6
Aug

Overcoming Ag Labor Challenges: Implementing Technology

August 06, 2019

By: Kristie Matuszewski

With growing ag labor concerns nationwide, some operations are circumventing their labor needs by turning to mechanization. Learn how some operations are implementing technology to cut back on their labor demands.

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Posted In: Ag Economy

Tags: ag expenses, ag outlook, dairy expenses, dairy, employee management, labor, technology
21
Aug

Positioning for Financial Success

August 21, 2018

By: Chris Laughton

Every farmer, fisherman or forest product producer defines success differently. For some, success is measured strictly in dollars and cents: the “bottom line.” Others make non-financial goals a priority. Nonetheless, every successful producer shares a few key management and financial practices. Here are some practices recommended by Dr. David Kohl, an agricultural economist specializing in farm business management.

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Posted In: Business Tips and Tools

Tags: ag expenses, business management, collaboration, communication, efficiency, financial management, production, record keeping, taxes
10
Jul

Knowing Your Cost of Production Can Help with Sound Management Decisions

July 10, 2018

By: Chris Laughton

In any business, including natural resource-based enterprises like farming, fishing and forestry, knowing your costs has always been important. But in today’s world of tight margins, it is imperative. Knowing, and managing, your cost of production is essential to running a profitable operation.

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Posted In: Business Tips and Tools

Tags: ag expenses, business management, cash accounting, cash flow statement, cash flow, cash management, efficiency, employee management, farm business, farm expenses, financing, fixed costs, labor, milk, profitability, variable costs