On April 17, the USDA unveiled details of the Coronavirus Food Assistance Program for agriculture, which includes $16 billion in direct support to agricultural producers and $3 billion to purchase and distribute agriculture products to Americans in need. Read a summary of these two main components.
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.
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.
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.