8 ways to trim your farm budget
By: Jeff Caldwell
Act soon to avoid losing out from an expected downturn in farm income. Here are some farmers' ideas.
A recent report shows a lot of signs point to a slide in farm income levels in the next 2 years. "Lower returns will require adjustments by farmers," says University of Illinois Extension ag economist Gary Schnitkey. "Machinery and other capital purchases likely will have to be reduced. In addition, cash rents may have to be reduced in certain situations to reflect the projected lower returns for 2013 and 2014."