The economics of agriculture, or any sector of the economy, are actually quite simple at their core. A product is produced and someone needs to be willing to purchase that product. What is the key to maximum profit? Connecting the product to the consumer in as few steps as possible. The process of getting the product to the consumer can be a very complicated process and every step of the way incurs a cost upon the farmer and ultimately their…
Though Dr. W.E. Taylor’s book, Soil Culture and Modern Farm Methods, is nearly 100 years old, it contains many practical tips that still apply today. This is the fifth of 5 blog posts on this subject. 5. The need to pursue knowledge and innovation For some reason the label “dumb farmer” has been attached to many of those whose life work is a farmer. The reasons why can only be speculated. The best guess is that many farmers never went to college and may have even missed out…
Though Dr. W.E. Taylor’s book, Soil Culture and Modern Farm Methods, is nearly 100 years old, it contains many practical tips that still apply today. This is the fourth of 5 blog posts on this subject. 4. Creating and Managing a Profitable Herd Any business owner knows this simple fact: if you cannot consistently produce a profit, your business will ultimately fail. Taylor gave many tips to help dairymen maximize their profits with their herd. Taylor’s first tip focused on the…