It's important for farmers to know their cost of production right down to the bushel.
That from Roy Arnott, Farm Management Specialist with Manitoba Agriculture.
He said when things get tough, knowing this information is critical.
“Well the margins have been relatively good, but if the prices do soften to the levels that they're at now, things are much tighter and any further challenges on the marketing side or the production side could make things really quite tight or even negative. That's why knowing your costs on a per bushel basis is really key.”
Arnott notes Manitoba Agriculture has a number resources available on its website to assist producers in figuring out their cost of production and to help them come up with a plan.
Source : Steinbachonline