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OFI 085: Matt Brechwald | Save Your Farm From Falling Commodity Prices!

SHOW NOTES

KEY IDEAS:

Over the past month, and particularly this week commodity prices for farmers have been dropping.  This causes a lot of concern for farmers as profit margins shrink.  When a farmer chooses a model in which they sell their crops or livestock as a commodity, they are totally dependent on that commodity price.  Commodity prices rise and fall for reasons that are completely out of the farmer’s control.  So, farmers, through no fault of their own can find themselves in situations, that may last years, which are unprofitable.

Today’s episode is an effort to look at how we can design a model that does not subject us to fluctuating commodity prices.  We talk about accomplishing this one of two ways.  #1 is creating a business that you can tailor to your farming lifestyle, but will support you when commodity prices drop.  #2 is creating a farming model that does not depend on commodity prices, and taking more control of your own profits.

All farmers have their own dreams and ways of making it work.  We do not suggest that anyone should abandon their vision, just to make money.  But a slight tweak to a business model might insulate you from falling commodity prices when times get tough.  Or, the addition of some form of service business can help to get you through the tough times, without killing the dream, if you stay in a commodity pricing model.

Please contact me with any questions, feedback or suggestions:

LINKS:

Ag Web Beef Price Article: LINK

Ag Web Pork Price Article: LINK 

Email: matt@offincome.com

Website: www.offincome.com