Sustainability seems to be the word of the decade lately, especially in the agriculture industry.

Smaller producers often simply accept as fact that their production costs are going to be higher than their larger counterparts. However, there are ways to become more cost-effective and profitable.

As harvest season approaches, you should have a good sense of your expected yields and the financial investments required to achieve them. To best prepare for next season, utilize this information with updated data on expenses and markets to calculate your true break-even point – defined as the value per unit where all expenses for the crop are covered by its revenue.

What is the first word that comes to mind when you see a bull sale catalog in your mailbox? Usually, I hear responses like “profitable,” “cost-effective,” “traditional” or "necessary."

“Help wanted: Full-time, farm-based IT and technology specialist.” Will technology’s rapid advancement drive these types of advertisements in the near future?

The current business climate of high interest rates and ongoing inflation is challenging. It requires business owners to be proactive and strategic with cash management, debt management and requires an overall increased focus on every aspect of the business.

In agriculture, uncertainty is a constant challenge, from unpredictable weather patterns to fluctuating market conditions. However, these uncertainties should not paralyze decision making or delay essential long-term strategies such as succession planning.

We spend a lot of time talking about properly saving and investing money to ensure a happy retirement, but if you are not investing in your own health, what good is monetary wealth?

I know we have all been there: The trucks are loaded and headed to the local sale barn with this year’s calf crop. We waited all year to sit and watch these fancy calves fill the ring and circle around. All our blood, sweat and prayers that went into getting to this beautiful fall day will soon be worth it. Ring full after ring full, we sit and begin picturing the large paycheck we’ll be handing the bank later that afternoon. 

The term “high risk” is mainly applied to calves bought and sold through local livestock auctions or sale barns, although not all these calves are necessarily considered high risk.