Financing through times of high rates

A farm financial officer says knowing the true costs of production is critical during times of high interest rates and inflation.

Sarah Adams with Farm Credit Mid-America tells Brownfield margins are getting slimmer which means there’s less room for error.

“If you know what it costs to produce something, then you can make decisions upon that, but if your breakeven is incorrect, maybe you’re not including family living expenses, we really don’t want to be making decisions on buying that farm or buying that piece of equipment if we’re using the incorrect number,” she says.

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