AgriVision Podcast Episode 8 – Expanding milking herd
Host Katie Wantoch and Heather Schlesser, agriculture educator from Marathon County, discuss whether a dairy farmer and his son should purchase bred heifers or cows to expand their dairy herd.
Financial
The University of Wisconsin-Madison Division of Extension Financial Management & Strategic Planning programs, information and resources intend to improve the farm financial and decision-making skills of Wisconsin agribusiness, farmers and farm managers, agricultural lenders and educators.
For help with financial and/or production records, you can contact your local Extension office or work with your lender.
Latest Financial News
Additional financial resources
Interpreting Financial Statements and Measures (IFSaM)
Interpretation of common financial statements. Learn how to use your financial statements in day-to-day management of your farm management.
Farm Financial Score Card
A guide to farm financial ratios from business financial statements including Balance Sheet, Income Statement and Cash-flow Statement
Articles
AgriVision Podcast Episode 7 – Use CFAP funds to pay open accounts first
Host Katie Wantoch and Stephanie Plaster, Agriculture Educator in Ozaukee and Washington counties, discuss a dairy farmer who has received a CFAP payment for their milk production and are wondering who should pay first with this program payment and how much they should pay to vendors.
AgriVision Podcast Episode 6 – Know your cost of production before renting more land
Host Katie Wantoch and Simon Jette Nantel, Professor at UW-River Falls and Extension Farm Management Specialist, discuss if a farmer should offer a lower rental rate per acre to the neighbor who is retiring from farming.
AgriVision Podcast Episode 5 – Problems taking a toll
Host Katie Wantoch and John Shutske, Professor and Director of UW Center for Agricultural Safety and Health and an Extension Specialist, discuss a farmer’s wife who is worried about her husband and the ongoing struggles with their farm business.
AgriVision Podcast Episode 4 – Having surplus feed puts you in the driver’s seat
Host Katie Wantoch and Jerry Clark, Extension Agriculture Agent in Chippewa County, discuss a farmer who wants to know if they should sell surplus crops or keep the feed for next year.
AgriVision Podcast Episode 3 – Off-farm employment loss
Host Katie Wantoch and Jenny Vanderlin, Associate Director of the UW Center for Dairy Profitability, discuss a farmer whose wife lost her off-farm job due and if she should do more work on the farm.
AgriVision Podcast Episode 2 – Selling Heifers
Host Katie Wantoch and Mark Hagedorn, retired Extension Dairy Program Manager, discuss a farmer who wants to know if they should sell pregnant dairy cattle heifers now or wait to sell these animals until after the cow has had her calf.
End of Year Considerations and 2020 Tax Planning
Farmers experienced a number of challenges in 2020, including financial spikes and dips. Farmers have several tools available to assist with managing their tax liability, however some of these tools need to be taken advantage of prior to December 31, 2020.
The Art of Negotiating for your Farm Business
Negotiating is important for the success of any business, but it is especially critical during lean times. It may seem like common sense, but many times people let their emotions get the best of them and ignore their basic instincts. It takes homework, discipline, and street smarts to successfully make a deal.
Determining Your Family Living Needs
Calculating family living needs is an important part of a financial checkup. Putting pen to paper regarding your actual expenses over the past couple of months, can be eye opening for anyone.
Working with Your Lender – video
This video discusses how you can work with your lender, starting with learning about the 6 C’s of credit that a lender may consider during your loan application – Character, Credit, Capacity, Capital, Conditions, Collateral.
Working With Your Lender
A lender’s primary interest is in whether you’re likely to fulfill the requirements of a credit agreement. When a creditor lends you money, he or she does it with the expectation of earning a profit, which is unlikely to happen if there’s a good possibility that you’ll default on the loan. The lender will be […]
