Source: Purdue University
Farming is never the same from year to year – sometimes prices are good, net farm income is high, and other times margins are tight. Planning ahead, or contingency planning for financial hardship is important for any farm operation. In this final episode in the Farm Risk Management podcast series, Purdue’s Michael Langemeier and Ed Farris join Brady Brewer to discuss financial risk management. How to evaluate farm financials, update financial statements, analyze performance, and when borrowing makes sense.
A Financial Risk Checklist pdf and the audio transcript can be found below.
00:51 Evaluate Your Farm Financials
04:17 Update Financial Statements
09:32 Analyze Performance
14:07 When Borrowing Makes Sense