Harvest dominates the schedule and the mindset at this time of the year. However, Farmers Business Network Director of Finance Sales T.J. Wilson says it is also time to build out a budget and a marketing plan for next year. “Cash flows are going to be very tight again next year so it is important for producers to know where they are and where they want to be.” The farm economy is in a difficult position. “Given where prices are, there’ll likely be some backward equity movement for producers this year. Luckily land values are staying strong and I anticipate they will stay pretty strong here for the next year which will give producers an opportunity to right-size if they need to.” To build a budget, Wilson advises farmers to consider their best and worst-case scenarios. Listen to the interview.
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