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MANAGEMENT

Manage employees, analyze yield drivers, explore forage markets, become more confident in preparing farm financial statements, and untangle farm succession issues.

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Employee work ethics can result in either profit or loss for the forage grower, so it is wise to devote ample time to personnel management. You don’t want an inferior employee operating a $50,000 round baler.

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It is often overwhelming to know where to begin when it comes to forage production. Do I spray for weeds? Do I replant? Do I graze what forage is already there? How do I get to that perfectly lush, green pasture like my neighbor?

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A fundamental goal to a successful harvest season is that “everyone goes home at the end of the day – whole, healthy and ideally in better shape and condition than at the start of their work day.” There is also a very real financial side to a successful and safe harvest. Prevention of accidents and their resultant injury and illness reduces your annual worker’s compensation bill.

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Recordkeeping – the term conjures up hours of office work and data entry. It’s the nemesis of many a productive farmer, a nightmare of paperwork and frustrating computer programs.

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Over the course of the last year, the Federal Reserve’s Open Market Committee gradually raised the interest rate on overnight deposits (the discount rate) from 1 percent at the end of 2016 to 1.75 percent at the end of 2017.

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As we enter the new year, many of you have set resolutions you hope to keep throughout the year – but may have broken them by the time you read this article.

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