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AFBF20 Convention

Jan 16, 2020

Kala Jenkins, Senior Associate, K·Coe Isom

The U.S. net farm income has decreased over the last couple of years. What will you be doing to help manage your farm operation’s profitability for the coming year? We will walk through various good business practices and risk management tools that you need to explore for increasing your farm income, such as conservation programs, income diversification and tax advantages. We will also touch on how you can leverage your money and more deeply understand what your financial numbers mean. Should you be investing in equipment or doing more prepay, and how does a change in your interest rates affect your profitability? Finally, we will also explore how precision technology helps with operational analysis such as field vs. field and enterprise comparisons. All these components make up your farm’s success — because profitability is key to continuing the legacy you have built.