Missouri banker on why some farmers faring better
November 11, 2019 By Julie Harker Filed Under: Missouri, News
Some producers are faring better than others in the down ag economy and Missouri banker Tony Hotchkiss says it’s not so much the commodity or the geography that makes a difference.
“Those that I see that are
managing through the best are the ones who have really taken to heart the farm
business IQ component and they understand that they’re running aa farm business.”
Hotchkiss is a member of the American Bankers Association’s ag & rural bankers committee. He says farmers who are faring better are making business decisions, not emotional ones, when deciding whether to buy the next tractor, combine or piece of land.
“They’re asking their partners,
whether it be their tax preparer or CPA or even their bank partner – ‘If I do
this, what’s this going to do to my operation from a cash flow perspective,
from a balance sheet perspective.”
Hotchkiss says no bankers tell
their producers what to do but they want to understand what they’re
doing. The theme of this week’s Ag Banker’s Conference in Dallas is “The Power
“It’s really important that the
farmers have someone in their farm operation that’s really good at the business
side of their operation.”
Hotchkiss covers a large part of
the Midwest and South.
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