That means making the effort to put records together, preparing financial statements and preparing a business plan, especially if the producer is looking at a new enterprise.
We saw a financial disaster in agriculture in the early 1980s as a result of inflated farmland values and the increased borrowing on those values. When the bottom dropped out of the farmland market, we saw loans called in and foreclosures to cover those loans.
This is an opportunity for Missouri producers concerned about the various risks they face each day to learn about and how to use some of the basic tools to manage those risks.
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