Undoubtedly, this year is going to be challenging. Experts recommend five steps to help put yourself in the best position possible.
- Consider being a contrarian. If all of your neighbors are switching to corn consider planting more soybeans.
- Follow the U.S. dollar, as it will dictate competitiveness for U.S. commodities in a global market.
- Capitalize on selling opportunities quickly, as there might only be a few profitable price points throughout the year.
- Pencil out your actual living expenses. Don’t just guess. If you think they’re $50,000 annually and find out they’re $70,000, it’s time to make some changes.
- Take time for your mental health—farming is what you do, not who you are. Don’t let your success or failure at what you do change what you think of yourself.