Running a successful farm takes a lot of hard work both in the fields and in the office.
Leaders at Hebert Grain Ventures tell aginfo.net that farmers should view their operations as separate businesses.
“You run two [businesses],” said Kristjan Hebert. “You run a farm operation, and you run a real estate business. Understand the numbers on both of those. It’s no different than, you know, Walmart sells stuff and they have a building. If you have a hotel, you need it to be full. So, is your farm profitable? Is your real estate operation profitable? Yes, they’re at different rates. Then, how much cash flow does your farm operation have, and how much equity does your real estate operation have? You need to know both of those numbers because your real estate equity allows you to buy land, and your cash flow from your farm allows you to pay for it.”
Hebert says knowing that information will make lending requests a lot smoother.
RFD-TV Farm Legal and Taxation expert, Roger McEowen, with the Washburn School of Law, joined us Monday to break down the changes and explain what producers should know.
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North Dakota Farmers Union (NDFU) President Mark Watne joined us Monday to share his perspective on the America First Trade Promotion Program and potential implications for producers.
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Dividing up a family farming operation can be challenging, especially for children who may not want to become farmers themselves.
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A booming butterfat market is good for some dairy products but threatens efficiency and margins for cheesemakers unless protein levels catch up
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U.S. Farmers Navigate Harvest Pace, Costs, Policy Shifts
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Land values are increasing faster than farm income, making it more challenging for young and beginning farmers to expand, but supporting equity for current landowners.
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