Many businesses are rapidly pursuing the Paycheck Protection Program (PPP) loans because of the amount of immediate cash to offset gaps in short-term cash flow. Gregg McConnell, Farm Credit East business consultant, explains some possible areas of opportunity for wineries and other similar retail businesses with the Employer Retention Credit as an alternative.
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.
The weather is probably the most important reason for price volatility in any given year. However, lots of other factors can also play a role. Dr. Patrick Westhoff, Director of the Food and Agricultural Policy Research Institute at the University of Missouri-Columbia, discusses grain supply and demand factors in this 2018 outlook.