Champions are made in the offseason. And so are higher profits.
Although the crop is out of the ground, it’s never too early to start planning for the next growing season. Winter is the time to look back and assess your operation while preparing plans for the future.
These strategic plans could lead to high returns in the fall.
Five steps to take now for a more profitable 2017
1. Data Analysis - Data analytics can help determine what areas of the field performed well and the underlying cause of any deviations in yield. Compile data this winter to set reference points of field performace to better prepare for next year.
2. Adding and Testing Technology - Incorporating new technology can aid in almost every task on the farm. Familiarize yourself with the technology now to ensure it will be ready to perform in the spring.
3. Weed Management - What you do in the short term can have an effect in the long term when it comes to weed management. Develop a strategic weed plan now to eliminate herbicide-resistant weeds and reduce money spent on unnecessary applications.
4. Fertilizer Application - Applying fertilizer is an investment and the costs add up. Study your soil fertility history and set up a two-to-four-year game plan.
5. Review Revenue and Expenses - Looking to cut back on unnecessary spending can be beneficial, especially when commodity markets are low. Carefully consider high land-lease contracts or hold off purchasing that new piece of equipment.
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