If you’ve been to the movies lately and stayed to watch the credits, it’s amazing to see how many people are involved in the production of a feature length film. And while Northeast farms, forest product and fishing businesses may not have as large of a supporting cast as a Hollywood blockbuster, it takes a team to produce the high quality food and fiber that consumers rely upon and enjoy.
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.
Farm Credit East recently presented the results of the 2017 Northeast Dairy Farm Summary. It was a mixed bag – average earnings increased due to a rise in milk prices, but cash flow came in at breakeven for the third year in a row. Read more here.
Farm Credit East recently surveyed a range of Northeast producers to find out their expectations and concerns for the year ahead. The results of this survey provided a gauge of the current temperature of Northeast agriculture.