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Implementing better management plans

An ag economist says farmers have been laser focused on how commodity prices are impacting profitability.

But, Jim Mintert, director of the Center for Commercial Agriculture at Purdue University says farmers can’t lose sight of how to position themselves for success in the long term.

He says that might mean fine-tuning management skills.  “There are some things we can do in terms of managing our operations to tighten down our cost of production on a per bushel basis,” he says.  “There are some things we can do in terms of our debt structure to help us bridge the gap until we get to a little more profitable time frame.”

Mintert says the first day of Purdue’s upcoming Top Farmer conference will focus heavily on how the current perceptions of today’s ag economy intersect with the industry’s future.  “We think there are some opportunities going forward,” he says.  “A lot of the concern is about the weakness in the ag economy, but the other thing to think about is it creates some opportunities for change.  In successful operations, it creates some opportunities for growth.”

Top Farmer is July 7 and July 8 in Lafayette.

A link to registration information can be found HERE.

AUDIO: Jim Mintert, Center for Commercial Agriculture