The year 2000 will be a good year to remove marginal land from production. One of the more difficult jobs may be renegotiating land rent for payments more in line with current low prices and the earning potential of the land. Dr. John Lee, head of the MSU agricultural economics department, said farmers desperately need to watch where they spend money. Growers need to avoid any new capital expenditures. This should be a good year for growers to shop for crop inputs.
Small savings add up quickly and significantly.
Lee said growers should evaluate labor costs carefully and consider doing some jobs themselves rather than paying a hired hand. Know exactly how much it costs to produce a crop so you can determine the break-even price. Ouart said Extension agents will be encouraging farmers to use general agronomic best management practices. The MSU Extension Service is preparing for a teleconference Feb. 11 targeting growers, lenders and policy makers with recommendations for improved agribusiness strategies. Recommendations on this web site do not endorse any commercial products or trade names.