What Is The Secret To Farm Profitability?

By Stu Ellis; The Farm Gate, University of Illinois

EXCERPT: Most farmers will say that marketing is the hardest task on the farm, because it is hard to pick a price and remain emotionally comfortable with it, knowing there may be a better price in days ahead. With the recent volatility in fuel and fertilizer prices, settling upon a price with a dealer and booking your needed inputs is also a gut-wrenching experience. Does that mean that picking a price, either for buying inputs or selling an output is the only route to profitability? Maybe not.
SUMMARY: Feed grain producers across the nation should increase the financial strength of their operators over the next five years, helped by strong commodity prices. Farms that have been in marginal or poor financial position in the last several years because of lower grain prices should recover and climb into stronger financial positions.

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