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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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You may be wondering why winter would be a good time to discuss a hay management program. My experience is that a key to a successful hay program is planning.

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Developing a fair and equitable method of charging for custom harvesting forage has long been a popular point of discussion. Most operations charge clients on a per-ton, per-hour or per-acre basis.

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Over the last few years there has been some increasing interest in custom feed and forage production.

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The following is an excerpt from Genevieve Christ's blog, PAfarmgirl. Christ is a Penn State Cooperative Extension agronomist in Cumberland County, Pennsylvania, and blogs about agricultural issues.

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Sales of standing forage require an estimate of market price and a method of determining yield – whether forage is sold by the bale, ton or acre – as a starting point for negotiations between the buyer and seller.

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Whether it is a conscious action or not, we are all engaged in risk management planning. Prepaying for seed and fertilizer, planning crop rotations, farming in multiple locations and signing up for crop/farm insurance are all considered risk management activities.

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