Farmers need to make informed choices about labor management and when to invest in farm equipment. It is important to track and be able to extrapolate and weigh labor costs and capacity against hiring staff or investing in tractors or other equipment.
Having accurate data and using careful budget analysis, farmers can maximize profits and make fewer poor decisions. Chris Blanchard of Purple Pitchfork (purplepitchfork.com) shared his experience gathering accurate farm costs and production data for investment decisions at the 2014 Beginning Farmer Learning Network (BFLN) Conference held in Albany, New York. [Read more here.]