It’s bound to happen. Past experience indicates that it always has and likely always will. It’s only a matter of time. When Issac Newton defined his third law of physics, the law of motion, being what goes up, must come down, I don’t think he was talking about grain and oilseed prices. It is applicable, […] Read more
Stories by Terry Betker, PAg
Unprecedented wealth accumulation creates challenges
I can’t remember the last time I talked to a farm family where the plan for the retiring generation was to sell the complete farm to one or more of their children and then use the proceeds to retire. Often, the sale was to one child because there was only one who wanted to farm. […] Read more
Farm families can face challenges in transition planning
There are certain issues within the transition planning process that some families may find difficult. These issues may ultimately slow or stop the transition planning process altogether. Often referred to as soft issues, they involve personal feelings and emotions. They can be more difficult to deal with than tangible issues such as taxation. Discussing these […] Read more
Fairness can be elusive when dealing with farm property
What I’m about to share started with a phone call from a farmer. There is no right or wrong in the following. No gender bias. No judgment intended. It’s just real-life transition on a farm. The farmer said that his son was anxious to get some certainty on the yard site that he and his […] Read more
Talk about debt when analyzing financial performance
Debt is all around us: consumer debt, government debt. Many economists comment that too much debt exists, depending on how they evaluate the debt and its associated historic trendlines. When it comes to farms, debt is typically needed to finance capital purchases for major equipment, land and quota. The cost of these assets is too […] Read more
Well-defined plan allows farms to respond to challenges
There are many aspects of being a consultant that are interesting and enjoyable. You get to meet a great number of fantastic people who all have something in common —farming — and you get to find out about their families and their businesses. Another aspect is that you get to ask a lot of questions. […] Read more
Know your farm’s constraints and how to deal with them
A constraint is something that limits or restricts people in some way in what they are doing, need to do or could be doing. It impacts on a person’s action or behaviours. Some are simple. You would like to buy a piece of land. The asking price is very high and as a result, you’re […] Read more
Options to consider when coping with drought aftermath
Now what do we do? There were certainly concerns late into the winter, and then even more concerns as an early spring approached with a significant (severe in many areas) deficit in soil moisture. But, with every new year there is optimism that the new year comes with the chance for upside and good outcomes. […] Read more
Gut-wrenching decisions can test farmers’ risk tolerance
Some of you will know my background, but most will not. I farmed in western Manitoba for nearly 20 years. My brother still farms there. I watched it rain, freeze and blow. I watched when it didn’t rain. I watched as insects and disease ran rampant. I watched the stress creep into our lives. Always […] Read more
Clear understanding of financial details key to success
I’m sure you will have read something in the past that defines the vision and mission of a business, including farms. At the risk of repetition, I’m going to summarize. A vision describes the future state of the farm. It provides insight to the question of what it is you are working toward. Both vision […] Read more
