Hopefully, this information will help in planning end of the year transactions, and provide insight at looking at all possible scenarios. Obviously, not all topics can be addressed in a newsletter, so if you need additional information, contact your county extension center. Given the weather conditions and commodity prices, this year will be challenging and stressful. Astute business managers recognize problems early and take action. Give yourself some planning time or time to seek assistance.
Risk comes in all shapes and forms.
While many people focus on just a few of these risks, you must be concerned with all of them. Given the 1999 Missouri summer weather and agricultural commodity prices, one can conclude that agriculture income will be low and it is time to consider appropriate responses. Do not hesitate to seek outside help if you need it. A current balance sheet and cash flow statements for the next few years will help in determining the position of the farm business. The following are some suggestions that might be helpful to your situation.