Sign up to save your podcasts
Or
Share E45 | How to Thrive in Uncertain Markets: Looking Ahead to 2025
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
E45 | How to Thrive in Uncertain Markets: Looking Ahead to 2025
Episode Summary
This week I dive into the conversation of booking crop inputs for 2025.With 2024's crop behind us and the end of the year coming up quickly, booking inputs for the next year's crop is at the forefront of many conversations.So let's dive into some of the practical points around these end of the year conversations.
In this week's episode I share some key points around booking inputs for the 2025 crop:
- Realistic Yield Projections:
- Use conservative estimates to avoid overestimating profitability.
- Calculate a breakeven point either per acre or per bushel.
- Profit Considerations:
- Define profit clearly—it could range from covering family living expenses to increasing equity through term debt repayment.
- In tough years, breaking even while covering all essential expenses can still be considered progress.
- Cost Management:
- Identify and focus on essential inputs (e.g., seeds, fertilizers).
- Evaluate the necessity of additional costs and seek alternatives to reduce them.
- Revenue Improvement:
- Enhance pricing through risk management and marketing advisors who can remove emotional biases and secure better prices, even with incremental gains.
- Explore different markets or crops, such as organic, alfalfa, or small grains, to become a price maker rather than a price taker.
- Decision-Making Responsibility:
- Avoid defaulting to input decisions based on trends, sales pitches, or peer influence.
- Be deliberate and responsible, as these decisions directly affect the sustainability of the business.
- Tools and Assistance:
- Utilize tools for breakeven analysis tailored to your operation's needs.
- Seek advice or tools from experienced sources to make informed decisions.
Resources & Links:
- Do you find yourself overwhelmed and struggle keeping your finances organized to make big decisions throughout the year? Check out my free training here for some practical strategies to stay on top your finances throughout the year!
Connect with Garrett:
- Follow on Instagram - @garrettruskamp
- Follow on Facebook - Garrett Ruskamp
- Follow on TikTok - @garrettruskamp
- Learn more about Pioneer Farmer here!
Make sure to hit follow/subscribe so you never miss an episode!
View all episodes
By Garrett RuskampEpisode Summary
This week I dive into the conversation of booking crop inputs for 2025.With 2024's crop behind us and the end of the year coming up quickly, booking inputs for the next year's crop is at the forefront of many conversations.So let's dive into some of the practical points around these end of the year conversations.
In this week's episode I share some key points around booking inputs for the 2025 crop:
- Realistic Yield Projections:
- Use conservative estimates to avoid overestimating profitability.
- Calculate a breakeven point either per acre or per bushel.
- Profit Considerations:
- Define profit clearly—it could range from covering family living expenses to increasing equity through term debt repayment.
- In tough years, breaking even while covering all essential expenses can still be considered progress.
- Cost Management:
- Identify and focus on essential inputs (e.g., seeds, fertilizers).
- Evaluate the necessity of additional costs and seek alternatives to reduce them.
- Revenue Improvement:
- Enhance pricing through risk management and marketing advisors who can remove emotional biases and secure better prices, even with incremental gains.
- Explore different markets or crops, such as organic, alfalfa, or small grains, to become a price maker rather than a price taker.
- Decision-Making Responsibility:
- Avoid defaulting to input decisions based on trends, sales pitches, or peer influence.
- Be deliberate and responsible, as these decisions directly affect the sustainability of the business.
- Tools and Assistance:
- Utilize tools for breakeven analysis tailored to your operation's needs.
- Seek advice or tools from experienced sources to make informed decisions.
Resources & Links:
- Do you find yourself overwhelmed and struggle keeping your finances organized to make big decisions throughout the year? Check out my free training here for some practical strategies to stay on top your finances throughout the year!
Connect with Garrett:
- Follow on Instagram - @garrettruskamp
- Follow on Facebook - Garrett Ruskamp
- Follow on TikTok - @garrettruskamp
- Learn more about Pioneer Farmer here!
Make sure to hit follow/subscribe so you never miss an episode!