Reading Time: 2 minutes What makes a farm profitable? “Recently, farm management expert Professor Eric A. DuVuyst of Oklahoma State University shared three traits common to all successful producers, drawing on observations and experience gained from working within five U.S. land grant universities,” said provincial farm management specialist Rick Dehod. “We definitely see these same three common traits in […] Read more
The three common traits of profitable farms
Know your costs for every enterprise, spend money to make money, and never run short of working capital
FarmLink picks up mobile management app
A Saskatchewan-developed, cloud-based mobile app for farm management is being uploaded into Prairie grain marketing consultancy FarmLink Marketing Solutions. Winnipeg-based FarmLink announced Tuesday it will merge Farm At Hand, the software platform developed by Kim Keller and Himanshu Singh, into its operations. Financial terms of the merger weren’t released. “It has long been our belief […] Read more
Want to kick up your management skills a notch?
Reading Time: < 1 minute Producers who want to take their management skills to the next level are being encouraged to apply for the second annual Robert (Bob) L. Ross scholarship program. Ross, a dairy producer from St. Marys, Ont. who died in 2014, was an influential advocate for business management training and a mentor to farmers across the country […] Read more
Tips for managing risk
Know your numbers, get insurance, and market wisely, says expert
Reading Time: 2 minutes Attendees of the farm management seminar received tips on managing risk from Brian Wittal of Pro Com Marketing in Didsbury. Good records Knowing cost of production and break-evens is critical, both for “year-end damage control” if things go south and looking at different scenarios in the future. Record actual yields and average them over several […] Read more
In a risky world, your farm needs a plan
Waskatenau producer Don Macyk says managing risk isn’t a fun chore, but it’s one you can’t afford to ignore
Reading Time: 2 minutes Risk management may not be “a real joyful thing to do,” but it’s a necessary evil if you hope to farm successfully, says a longtime central Alberta farmer. “I know in our own business that we go further, faster when there’s good, solid risk management in place,” Don Macyk said at the Feed Coalition workshop […] Read more
Have your financial ducks in a row before spring hits
Farm business specialist says there are four financial documents you need to prepare and share with your advisers before things get too busy
Reading Time: 1 minute Now is the time to review operating plans, investment plans and cash requirements for the upcoming year, says an Alberta Agriculture and Rural Development specialist. “The need to develop a strong business plan has been never greater,” said Rick Dehod. “With grain prices flattening, margins have been squeezed. Being proactive allows your business to strategically […] Read more
Getting the lowdown on your farm’s financial health
Simple Farm Ratio Analyzer is a quick way to determine whether your farm is on the right financial track, says farm finance specialist
Reading Time: 2 minutes An Excel program available from Alberta Agriculture and Rural Development can help producers assess the financial state of their farm business. The Agricultural Business Analyzer (ABA) Simple Farm Ratio Analyzer gives users a quick idea of the financial health of their farm or ranch as well as a comparison of their business’s ratios to industry […] Read more
Cyber-Savvy Farmer
