GRDC Farm Business Update - North 2019
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This page contains update papers presented at the .
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Presented at
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• People are the number one profit driver in any business. Ensure 2% to 3% of gross farm income is invested in professional development each year and make sure some of it is in the interpersonal skill area. • A ‘measure to manage’ approach is a must in all farm businesses. Develop your key performance indicators then identify and improve the skills...
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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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• Work towards building a reputation as a grower with on-farm storage, who can consistently supply pest-free grain that meets buyers’ quality specifications. • Talk with grain buyers regularly to keep up-to-date with grain market trends and to know what grain qualities are in demand. At harvest time segregate on grain quality into storages, in ord...
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• Farming systems that can rapidly adapt have the greatest ability to manage climatic variation. • Growers need to match all elements in their system to improve flexibility – equipment, labour, soil type and stubble management. • Growers must have flexibility in their system and have a number of levers ready to pull when circumstances change – e.g....
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• Get to know the production and financial targets for your business. • High gross margin crops – are a factor of crop choice and frequency in your environment. • Operate a low-cost business – do you know what it costs to run your business? • Grain storage - reduced harvest risk, value add from blending and managing cashflow. • Managing debt – st...
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• The profitability of a farming system should be quantified over the whole crop sequence accounting for fallow costs and the length of the crop sequence/rotation. • Cropping intensity is a key driver of system profitability and risk, more so than the mix of crops used. Crop systems with higher intensities (i.e. less time in fallow) have higher ave...
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• To command more money from your on-farm grain you must provide more value. • Identify who your customer is. It isn’t necessarily the end user of the grain. • Understand what your customer values – put yourself in their shoes. • Market dictates what should be stored on farm at any point in time....
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