posted on Tuesday, October 9, 2018
The economy has not been kind to farmers in recent years as the industry continues to be plagued by low commodity prices. Many experts predict another large production year in 2018, however, they are not expecting a significant change in commodity prices. While this is cause for concern, it is not a cause for panic. Navigating a challenging economy simply require doing things a little differently.
Agriculture is a cyclical business. While things may be difficult now, it won’t stay that way forever. Farmers today need to position their businesses so they can take advantage when the ag economy takes a more positive turn.
While dealing with a tough economy can be stressful, it is important that farmers in our community are not intimated by the short-term outlook of the industry. Following are five tips that can help during challenging times: