Many farms
would like to know their costs of production to better manage financial risk,
benchmark against peers, and participate in federal risk management
programs. Without statewide record keeping programs leading to business analysis, many farms are insufficiently prepared for
business analysis.
We worked with Ohio and Indiana dairy, livestock, and crop farmers during the 2015 analysis year through face-to-face, on-farm, and
on-line meetings, supported by on-line videos (webinars) through analysis
completion in 2016. 2 farms completed their analysis, 2 are in
process, and 3 will likely complete a 2016
analysis. This fell short of our
28 farm goal, but the “real time” education and data collection process in place
will help families achieve future farm business and risk management
goals.
More than 780 farmers
participated in farm financial basics programs and a Farm Financial Management Webinar series. All webinars continue to be available through our website at http://farmprofitability.osu.edu