Missouri banker on why some farmers faring better

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 of Partnership.”

“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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