Advancing Women in Agriculture Conference
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The summer season is a time for spraying, holidays, and even some learning opportunities. There are always field tours to give you information about the effect of different nutrients, fungicides, herbicides, and seed genetics. It’s exciting. But while there are lots of opportunities to educate yourself about how to grow better crops, where are you with getting better at your marketing plan?
Diving into the details of farm labour costs can feel like you’re opening a Pandora’s box. But it’s an important Pandora’s box to open. Just like calculating things like annual fuel costs, putting firm numbers to farm labour costs help you determine your overall production costs, break even point, and profitability. And those are the keys to the financial success of your farm.
Understanding your crop production costs – regardless of the crop you’re growing – is vital. You can’t understand your cash flow or your profitability without first understanding your crop production costs.
Best practices and tools for managing cash flow on the farm have changed – and continue to change. Today you have more flexibility. And that makes it easier to manage cash flow on the farm.
Farm fuel cost calculations are just one part of understanding your overall costs for the year. But, given the rising price of fuel, it’s an important one.