Sound farm managers handle uncertain times with a plan

Author: Chuck Danehower, Extension Area Specialist - Farm Management No Comments

News of government payments to offset a loss of exports from tariffs, while welcome, is viewed as a short-term solution and not a replacement to income from the market.

There is uncertainty among Tennessee Producers these days as while an excellent crop appears to be developing (rain is needed in some areas), corn and soybean prices have tumbled. Cotton is the bright spot as prices have hung on near their highs while the Tennessee crop is very promising.

Uncertainty somewhat can be overcome by sound farm financial planning. While yields, prices, and government assistance will vary from year to year, producers who have in place a farm financial plan are better equipped to weather the unknowns and bumps in the road that may appear from time to time. Continue reading at Southeast Farm Press.

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