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Beat the blues of seasonal cash crunch

January can be a financially tough on the farm as the post-holiday crunch is a time of high expenses and tight income. 
 
Holiday bills are arriving on top of operational expenses like heating and grain drying, livestock feed, seed and fertilizer.
 
For some, these statements come as grain remains unsold in the bin or still lying in fields.
 
Bridging the gap
 
Crop insurance can assist farmers with write-off crops, but plants that will still yield will have to be harvested before farmers can finalize their claims, notes Carol Kruck, BDO senior accountant.
 
If short on cash, farmer and chartered accountant Lance Stockbrugger strongly recommends the cash advance programs available to producers through commodity groups.
 
“Also get on top of the AgriStability filings and file an interim application to help get some funds as soon as possible,” Stockbrugger says.
 
The deadlines or criteria for AgriStability are different in all provinces, adds Kruck, and some deadlines for interim payments have passed. In those cases, farmers can only file the final application. 
 
Stockbrugger says it’s also a good idea for producers to access the AgriInvest funds they might have saved up during better times.
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