GRDC Farm Business Update Horsham 2019
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This page contains update papers presented at the .
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Presented at
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Narrowing, fragmented supply chains are changing the nature of price competition making the choice of where to store grain at the first point more important. On-farm storage profitability is very good (compared to other investments) and relatively low risk when done correctly. The grain marketing process is dynamic and understanding the elements of...
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Many of the decisions faced by growers have outcomes which are sensitive to the climatic conditions received after the decision is made. As with many decisions, slowing down and thinking through the potential outcomes (or ‘imagining the future with rigour’) can support the decision-making process. Analysing the expected range of outcomes (rather th...
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• Select a grain storage option that provides flexibility to meet market requirements. • The only silos suitable for fumigation are gas-tight (meeting AS2628-2010), pressure tested. • Hygiene and monitoring are keys to maintaining grain quality in storage. • Aeration is an effective tool worthy of consideration – best paired with an automated cont...
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• In majority of cases, on-farm storage requires multiple financial benefits to cover the costs. • The most economic form of storage will be the one that suits your system, the grain being stored and the length of time it’s stored. • Permanent on-farm storage is a 25+ year investment – it’s worth taking the time to do the numbers, consider the op...
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• If you want to improve your farm performance, know your starting point, decide on what you want to improve and have an end point or goal in mind in terms of key performance indicators (KPIs). They are the guide posts. • Become very familiar with the key drivers of your farming enterprises (cropping, livestock); understand the key Wimmera farm fin...
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• To improve successful strategic human resources outcomes, agricultural employers need to: o Understand future trends that will inform strategies about how to attract, retain and develop human capital. o Acknowledge that the growth of the sector is dependent on recruiting smart, motivated and adaptive people; and o Become an ‘industry of choice’ f...
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• Well planned and implemented precision agriculture (PA) helps capture farm profit and conversely, poorly planned and implemented PA can erode farm profit. • The recipe for profitable PA adoption will be different for each farm business. • PA information sourced from outside the farm business informs what’s possible, while information from inside ...
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• There is no substitute for undertaking a professional approach to farm business analysis. • There are positive options for farm business expansion through land purchase, land leasing and share farming. The key is however, to undertake the correct analysis so the whole farm performance of liquidity, efficiency and wealth is understood. This will e...
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Agriculture is a business particularly well suited to the use of financial leverage. High equity levels in an existing business can be used to leverage and create wealth through expansion. Leverage allows for a greater rate of wealth creation than using equity alone provided the net investment return exceeds the cost of debt funding. Understanding ...
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