Low crop and livestock prices are making for challenging financial times in agriculture. Input costs must be reduced, but the question is, what are the impacts of those cuts on production, prices received, and profit? Those issues and more will be addressed at an upcoming meeting, “Staying in the Farming Business: Cut Costs, Not Income,” on Wednesday, January 4, 2017, at 5:00 p.m. at the Velma Houts Fair Building in Rock Port, Missouri.
The program will begin with a discussion on 2017 crop and livestock budgets including averages and break-evens. Next, each expense in the budget will be examined for potential ways to reduce costs without reducing revenue. That will include ag chemical, fertilizer, and seed costs, making grain hauling/drying and storing decisions, sizing equipment for the operation, chemical drift issues, and cutting livestock production costs and decreasing discounts.
Different rental arrangements such as flexible cash rents will addressed, and different types of rental agreement forms will be provided. Following that will be a 2017 weather outlook. The meeting will conclude with long-term price projections for commodities.
Both operators and landlords will benefit from attending this meeting.
There is no cost to attend. Generous support has been provided by FCS Financial to help cover some of the meeting costs. A meal will be provided, and participants will receive a binder of resources which will be helpful in planning for 2017.
Pre-registration is appreciated for planning purposes. Please contact the MU Extension office in Atchison County at 660-744-6231 or atchisonco@missouri.edu.
If you are unable to attend the meeting in Rock Port, it is also being held at 16 other locations across northwest Missouri. Your local extension office has those details.
In the event of inclement weather, please contact the extension office for cancellation information.
Contact the extension office immediately if you need accommodations because of a disability, need to relay emergency medical information or need special arrangements if the building is evacuated. MU is an equal opportunity/access/affirmative action/pro-disabled and veteran employer.