How to make – and stick to – a business budget

Jan 28, 2020

When it comes to budgeting for farm businesses, financial advisors say greater adaptability in managing variable income, carefully consideration of what constitutes a true farm expense and financial clarity can all go a long way.

Start with clear parameters

For Darrell Wade, founder of Farm Life Financial, an advisory and farm-planning firm based in Peterborough, Ont., transition planning provides a good opportunity for both incoming and outgoing generations to understand the parameters in which they must operate.

Budgeting for both parties, that is, starts with sharing a clear cash flow statement. That statement can then be compared to lifestyle expectations, projected changes in expenses and other variable factors to determine what is required to stay profitable.

“The only way it will work is if there is clarity on the financial side,” Wade says. “It’s not about what we make from an asset, it’s what we keep.”

Click here to see more...

Video: What Does 20 MILLION Hogs a Year Look Like?

🐖 The Multi-Plant System Processing 20 Million Hogs Annually in the Midwest JBS USA operates multiple large-scale pork processing facilities across the Midwest, including major plants in Iowa, Minnesota, and Indiana. Combined, these facilities have the capacity to process approximately 20 million hogs annually.

Each plant operates high-speed automated slaughter systems capable of processing up to 20,000 head per day, followed by fabrication lines that break carcasses into primals, sub-primals, and case-ready retail products.

Hog procurement is coordinated through electronic marketing platforms that connect regional contract finishing operations and independent producers to plant demand schedules. This digital procurement system allows for steady supply flow and scheduling efficiency across multiple facilities.

Processing plants incorporate comprehensive food safety systems, including pathogen intervention technologies, rapid chilling processes, and integrated cold-chain management. USDA inspection is embedded throughout the harvest and fabrication stages to ensure regulatory compliance and product integrity. Finished pork products — from bulk primals to retail-ready packaged cuts — are distributed through coordinated logistics networks serving domestic and export markets.