Financial stress and market uncertainty are two of the top concerns of farmers today. As a result, many farming operations are facing some difficult choices and hard decisions. Having good information and trusted recommendations can be vital when it comes to making these decisions. Agri Financial has partnered with Hoosier Ag Today to produce an informational series designed to provide quality financial advice and information for farmers during these challenging economic times. This week’s Money Minute deals with making those tough choices.
“It may be a piece of real estate that a person has cash rented for a long time, but it is too high. They are consistently losing money on that piece of land,” Agri Financials’ Mike Reed points out this is a situation being faced by many farmers. “You may just have to pull out,” added Reed. He said the key to making this decision is to have good information and also a lender who understands your operation and can give you sound objective advice.
Reed stresses that knowing your cost of production is a vital piece of information, not only in making real estate purchase decisions but in making cash rent choices as well. For more information, contact Agri Financial at www.cgb-agfi.com
Previous Money Minute features can be found at www.hoosieragtoday.com