As we head into office season and begin analyzing the final yield numbers for 2016, it's a good opportunity to really look hard at your farm's financial data to help plan the future crop year. Don't just look at your yield - dig in deep to analyze your input costs as well. Take the time to ask yourself questions like these:
- What did I get this year for what I put in?
- Did I get my money's worth?
- What kind of changes can I make to run the operation more efficiently?
Really examining your seed and fertilizer costs in particular might reveal some wiggle room that allows you to cut costs and get you a better return on investment next year. Lance Burditt recently shared a story with broadcaster Dewey Nelson about a Water Street Solutions client who was able to do just that when a financial analysis revealed how much he was overpaying oninput costs.