Based on the USDA’s farm income and profitability projections for the year, farmers are going to need some help saving money so they can make ends meet, says Stu Ellis, editor of the farm gate blog.
“Yes, you can maximize your income with a marketing plan, but with the expected range in crop prices, it can only be maximized so far,” he says. “Your thriftiness won’t make you wealthy, but working both sides of the dollar may get you through 2010.”
On some farms, certain methods of production management may not work, particularly if there is heavy insect or weed pressure when trying to reduce crop protection expense, he adds.
However, strategies like bulk purchases, using the correct tire inflation pressure, proper crop rotations, reduced tillage and the use of generic products when possible all add up.A more detailed list of money-saving ideas is available here.
Source: the farm gate blog