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southern MN | My best year or two was when grain climbed up out of the $2 to the $5, I was too dumb and star struck to sell as prices rose, and they kept on going up after everyone else sold out. And I was working off a good crop. Thos were my good 2 years.
Farming is generally selling a bulk commodity product into a world market. Prices will always lower to about either side of break even, with a good up and a bad down year thrown in every decade or two.
We need our little bisimness plans to account for that.
With prices down low, we need to cut expenses on the yearly outlay, and if that means not buying $350 seed corn even tho we always do... so be it. Maybe we start looking at the university studies and apply the cost effective rates of N and fertilizer, instead of the record breaking amounts of N and other fertilizers. Rent expenses will need to adjust.
In our line of work, we need to be flexible and adjust to changing times.
This really isn't anything new. Our costs and incomes flex up and down all the time. And we need to adjust for that.
Is any of this easy? Nope.
Seems we have kind of forgotten that is how it is, tho.
We all pine away for $7 corn instead.......
Paul | |
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did not anyone save any coin from $7/corn ?
