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Farm Management Articles

Research-based information and tools to help with your farm business management decisions

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Using farm financials to make informed decisions

Join Kevin Bernhardt, Extension Farm Management Specialist, and Katie Wantoch, Extension Farm Management Outreach Specialist, as they share financial tools and analysis methods to aid in answering these questions and making informed decisions.

Cost of production: How to calculate

Whether it is marketing decisions, best production practices, human resource management or technology adoption, a major piece of information for the farm business decision-maker is knowing the costs of production.  Two major questions in determining costs of production are how to calculate and which cost of production.

Costs of production: Handy tool for marketing, finance, and farm management

There are many tools farm managers can use to inform their decision-making.  One simple and effective tool for many farm management applications is breakeven costs of production.  This is particularly useful in marketing decisions as the breakeven cost of production is the price needed to cover costs.  If a profit goal is added to the breakeven cost of production, then the decision-maker knows what price will not only cover costs, but also a profit goal.

Demystifying the future farmer and planning ahead for a successful farmland transition

Productive farmland is an increasingly rare and valuable resource. Thinking ahead and having a plan in place for the legacy of the land is one of the most important decisions to make as a landowner. This article aims to “demystify” the new generation of farmers so that current landowners have a better understanding of who they are and ways we can make land more accessible to them for the benefit of everyone. 

Agricultural conservation easements 101: Permanently protect your farmland and legacy

Protecting Farmland for the Future. Farmers invest a lot of time, money, and energy into their land and, when it comes time for retirement, they often worry that the land may someday be covered in asphalt. An agricultural conservation easement (ACE) can provide a retiring farmer with the assurance that the land will forever be available for agricultural use. An ACE is a permanent deed restriction that allows future farmers to continue farming the land, but typically prevents subdivision and non-farm agricultural development. An ACE may not be right for everyone, but it can be a helpful tool to consider when planning for the future of your farmland. 

Buy-Protect-Sell: Bridging gaps to incoming farmers

Buy-Protect-Sell (BPS) is a land transition model that can help farmers without heirs transfer property to a new generation of producers. In this model, a farmer sells their land to a land trust, who then protects the property with an agricultural conservation easement. In this article, you will learn what Buy-Protect-Sell is through the story of a retiring landowner and a land-seeking family, how it may benefit your farmland legacy, and if your farm could be the right fit. 

 Find a good farm accounting software system

Selecting the best recordkeeping tool will assist in making management decisions for the future. At the end of the year, farmers may be reviewing their income tax obligations and marketing plans or completing a business or enterprise analysis. A successful farm manager is already keeping good, accurate records throughout the year. Selecting the best recordkeeping […]

Set your farm strategy with daily habits and time for strategic thinking

For business owners, managers and employees, days are full of endless decisions and actions that affect the health, success and future of ourselves and our businesses.  These choices can start to feel like they’re piling up, which creates pressure, stress and a feeling of foreboding that can negatively impact how we make (or put off making) decisions. 

Planning and cash flows go hand-in-hand

Many of us have spent numerous hours building the perfect plan, only to see it end up useless because our assumptions were wrong or some unforeseen disruption occurred in life.  Thus, we conclude that planning is useless, a big waste of valuable management time.  However, I think we are missing the point.  Eisenhower said plans were useless, but the process of planning was indispensable.   

First impressions matter:  The importance of onboarding farm new hires

Labor shortages are widespread, workers are expecting higher starting wages, and after farms hire and train a new employee, there is a risk that they will jump ship for a better-paying job. Improve the retention odds on your farm by putting a plan in place to improve the employee onboarding experience.  

Prepare your farm for the next cyclical low during the good times

Cyclical lows tend to be a time of greater anxiety for many and include increased exit from the industry.  However, even in cyclical lows, some farms are making profits. For these farms, it is also a time of opportunity as capital asset prices for machinery, land, and cows are often lower as well. The question is: What do these successful farms look like at the end of cyclical highs that enable them to continue that success during cyclical lows?

Is your dairy ready for disaster?

Whether it’s fire, flood, wind, or injury- a disaster on your farm can cause devastating loss and requires pre-planning to minimize the disruption.

Can farmers match airlines’ safety record?

As the harvest season approaches, put on your pilot’s cap. Get your team together. Pull out your manuals, checklists, and protocols. Be purposeful. Make the changes that need to be made, and make sure all of your team members have their wings! It’s a lot of work, I realize. But as we see from our friends in the airline industry, it does make a difference!