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Family Farms CEO encourages farmers to be on top of their financials

The new CEO of Illinois based Family Farms LLC says with low commodity prices, increasing input prices, and trade uncertainty family farmers need to be aware of their financial situation now more than ever.  

Jeff Haferkamp tells Brownfield staying ahead is a survival tactic.

“Certainly, understanding where they are at cost wise, revenue wise and then balance sheet wise. It is almost imperative.”

He says small farms also need to seek growth potential.

“Whether it be continuing to grow acres on the grain side or diversify a little bit or try to get into other business opportunities. All of those things are ways I think a farmer can continue to survive and thrive in this tough business environment.”

Haferkamp says 70% of farmland is predicted to change hands over the next 20 years, and their goal is to help family farmers get ahead of that statistic.

Interview with Jeff Haferkamp

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