We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
Why work hard and spend money to produce a quality product – and then throw a quarter of it away? That is what many producers do by not investing in quality storage options for their harvested hay.
No matter how well you budget or how efficiently you manage your farm business, there may be periods in which cash flow is negative. No one knows for sure when these periods will occur, and how long they will last, but every operation should have a financial contingency plan to provide for unexpected cash-flow shortfalls.
Only occasionally do forage and livestock producers see record-high prices and profit margins for extended periods of time. Even though prices for feed, seed and fertilizer are also at historical highs, many farm and ranch families will find themselves with more than the usual amount of cash left over in 2014.
Machinery and equipment are major cost items for producing forage crops. Larger machines, new technology, higher prices for parts and new machinery, and higher energy prices have all caused machinery and power costs to rise in recent years.
