Farm Business Decision Making

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Using Target Price & Target Yield to Help Determine Target Profit

Analysis of your tactical Target Yield and Target Price this season can help drive your farm business profitability goals. Our family enjoy a good game of cards when we get together on holidays. One of our favourites is 500. Most times it is played with fun and reasonably light-hearted joshing. Occasionally, it can become a little more intense! For those who are familiar with the game, you will know the exhilaration of picking up a good hand and then trying to win the bid and get your hands on the kitty! But no matter how good [...]

By |2022-11-28T01:28:36+00:00April 15th, 2019|Farm Business Decision Making, Farm Business Risk Management|0 Comments
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Your Farm Business Journey: Tracking Your Goals and Progress

This quote by Steven Covey is a great way to start anything – whether it is something short-term like a weekend fishing trip or a long-haul journey around Australia. But it is especially empowering for your farm business journey . What is your goal, or the ‘end’ that you hope to achieve? Even for a short-term goal like the weekend fishing trip, the ‘end’ may be very different for different people. Is it really about catching fish, or is it more a chance to get away and relax? Maybe it is a bit of both. Whatever the goal, and whether this is [...]

By |2022-11-28T00:17:32+00:00November 29th, 2018|Farm Business Decision Making, Farm Business Thinking|0 Comments
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Evaluating the Economics of Export Hay in Selected Farming Systems

This farm business analysis was conducted on behalf of the Australian Exporters Company (AEXCO) to assess the financial and risk management benefits of including the Export Hay enterprise in farming systems in Australia. The two farming systems used for this analysis were located in South Australia and Western Australia.  The inclusion of the Export Hay in these farming systems helped manage business and agronomic risk in the following major areas: Improved ‘Net Farm Profits’ and efficiencies, as measured by ‘Return on Assets Managed’. Competitive gross margins when compared to grain production and sheep. Economic balance to grain production as the [...]

By |2022-11-28T00:13:41+00:00June 5th, 2018|Farm Business Decision Making, Farm Business Thinking|0 Comments
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Are you in the driver’s seat in your farm business?

Driving any vehicle with confidence toward your goal or destination needs a strong focus on the road ahead, while keeping one eye on what’s behind in your rear-view mirror and another on what your gauges tell you about how well your vehicle is travelling. Is your farm business any different? How well are you planning for the coming season’s journey? In a chat recently with an industry leader who has developed a paddock planning app for farmers, I was surprised to hear that only about 15% of farmers who use these types of [...]

By |2022-12-01T03:50:09+00:00April 27th, 2018|Farm Business Decision Making|0 Comments
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Knowing your Cost of Production: A risk management tool for the farm business

I was recently forwarded this interesting commentary from a trusted source in the US: What is interesting in this quote is that most of the strategies suggested here are for managing and improving production outputs. Of course, without production there will be no income. But as a producer, how do you assess what is providing your business with the best financial return? One of the main drivers to remaining competitive is measuring your cost of production at the end of each season. This information can provide powerful insight into how your business can be improved into the future. [...]

By |2022-11-27T23:54:40+00:00December 18th, 2017|Farm Business Decision Making, Farm Finances|0 Comments
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