Whether we’re at the high point of a cycle or in the depths of a downturn, the best managers regularly manage their margins. They understand that margin management is an “always” mindset, one that builds stronger positions during the good times so they can get through the bad.

From COVID-19 to governmental policy changes to H5N1 avian influenza (bird flu) outbreaks, the unpredictable is coming at us at a faster and faster pace. When making your contingency and continuity plans, here are some of the key areas of preparedness you should consider.

While I could go with the ordinary list of things like global events, market volatility, geopolitical issues, global economics and poor financial records, the things that really keep me awake at night fall more into the symptoms or characteristics of what leads to financial issues on a farm. Let’s take a look at a few that top my list.

Agribusinesses may be more susceptible than other businesses to payment fraud because fraudsters perceive them as being both lucrative targets and having less sophisticated fraud protection tools. Read on for tips to help prevent six common types of cyberattacks and payment fraud.

We meet regularly with our dairy clients and prospects, and compared to what we heard not long ago, the conversation has changed regarding what high-functioning farms are focused on today. 

“Leave me alone and let me farm!” I’ve heard this from many a client over the years, sometimes in response to my request for timely financial reporting. But it is the wrong response. 

There’s a lot of buzz around renewable natural gas (RNG) as a means for dairy farmers to diversify revenue while improving their carbon footprints. For many operators, it can be a particularly attractive option, especially given the current market and economic conditions.

It’s been quite a while since dairy operators have had to budget for interest rate expenses. But the Federal Reserve raised interest rates six times in 2022, and policymakers expect more to come in 2023 in an effort to slow inflation by increasing the cost of borrowing.

Year after year, agriculture continues to rank as one of the most dangerous occupations. Far too many farmers, farm family members and employees are injured or killed in farm accidents. What are you doing to change this in your farm and community?  

Generally speaking, dairy producers are posting healthy margins right now. May milk prices were the highest on record, and 2022 prices are shaping up to be the highest ever, breaking the record set in 2014.