I just posted a story on Agriculture Online, Well-managed beginning farms can thrive in uncertain times
, by Dan Looker, who attended a conference for young and beginning farmers in Omaha this week.
The piece covers a presentation by Dave Kohl, an ag finance expert who's also had lots of practical experience, including a deal in which he invested in and helped turn around a now profitable dairy farm that sells bottled milk and ice cream directly to consumers.
Kohl believes that despite the volatile economy there are going to be some good opportunities ahead for young and beginning farmers, particularly those who have some cash on hand. (Yeah, I know, who has too much of that?)
"He advised a three-pronged strategy to protect against risk--protecting revenue with crop insurance and hedging, working to keep cost inputs as low as possible, and managing interest rates," Looker wrote.
Perhaps most interestingly, Kohl told the group that he believes that some beginning farmers will have more opportunities to buy or rent farmland as some recently purchased land comes back on the market. "They're going to be lots of opportunities over the next 24 months," he said. "You're going to have to be real careful that you don't overpay."
Anybody else optimistic that there may be some good opportunities in the near future to expand your farm business?