9 Tips for Securing Your Farm’s Financial Footing in 2016
By Brent Gloy and David Widmar.
(Brent and David originally wrote this piece for the Mid-November issue of Successful Farming, available here.)
With 2015 behind us, the prospects of significant improvements in commodity prices or input prices in 2016 have begun to fade. The fiscally tight conditions faced at 2015 spring planting, when economic losses were common in budgets across the Corn Belt and Plains, will likely feel all too familiar as planning for 2016 begins.
Just as a hiker’s footing is critical for the challenging leg of a hike, now is the time for you to evaluate your current situation and secure your farm’s financial footing heading into 2016. If you spend time preparing and planning for 2016, you will help position your operation to survive – or even thrive – into the future. To help you, here are nine tips for securing your farm’s financial footing. (more…)