Focus on Working Capital

With 2024 coming to a close, Northland Farm Business Management Instructor Betsy Jensen is encouraging farmers to take steps now to ease the financial burden heading into the New Year. “The biggest thing is to get a handle on your working capital,” said Jensen. “Do you have cash? If you don’t have cash then there are not a lot more decisions to make, right? The priority is making sure there is cash available for next year. Our planning prices for 2025 are not that great so if we need to refinance, we need to put in a short-term loan.” Jensen spoke at the Prairie Grains Conference.