The message is clear: farms must know their costs of production for corn, soybeans, hay, milk, meat, and any other commodities they produce. Why? To make informed marketing, production and financial management decisions that contribute to the overall profitability of the whole farm business.
Farm business analysis is a tool that can be applied to any farm, regardless of size, crop, or livestock enterprise. Financial management is critical to the success of every farm business, and with analysis, farms are able to better understand the numbers behind their profits or losses. Continue reading