To be successful, Virginia Tech professor emeritus David Kohl is advising farmers to get better, before they get bigger. Speaking at a meeting organized by Hub International in Mayville, North Dakota, Kohl said successful farmers pay attention to the details. “I call it the ‘little bit rule.’ They’re a little bit better in production and holding their costs in control; they’re a little bit better in marketing and they’re a little bit better in utilizing their capital assets.” Interest rates should also get attention. “Keep an eye on the general economy because that will send signals to the Federal Reserve about raising interest rates.”
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.