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Planning for farm profitability in 2020

There are several things that growers should keep in mind when planning for farm profitability in 2020.  

Gary Book is the assistant vice president for credit underwriting with Farm Credit Mid-America.

“The time now is to do your cash flows, think through your capital purchases, and really have that plan in place so that if something unforeseen happens again in 2020 your operation is prepared to withstand adversities,” he says.  

He tells Brownfield it’s critical that growers plan ahead so that they’re prepared to take advantage of any opportunities that come up.

“Understanding where your financial position is at and understanding where you’re sitting with your lender is all very important and are things to do this time of year so you’re not rushed to take action when some of those opportunities do become available,” he says.

Brownfield interviewed Book today during the Know to Grow workshop by Farm Credit Mid-America in Indianapolis.

Audio: Gary Book, Farm Credit Mid-America