MID-WEST FARM REPORT - MADISONUnderstanding The Balance Sheet Ahead Of Tax Day
- Finance veteran Gary Sipiorski has decades of experience in farm finance and ag lending. He also devotes time to the Professional Dairy Producers Financial Literacy program. He stresses the importance of understanding the balance sheet, cashflows, assets, liabilities and projections. The biggest challenge for farmers is finding the time to do it all. But he reminds listeners that any written financial plan is attractive to lenders.
- Jen Pino-Gallagher of M3 Insurance says agribusinesses are impacted by insurance market trends. Fraudsters are scamming agribusinesses into sending hundreds of thousands of dollars worth products to them -- stealing that product. And food processors are facing uncertainty regarding insurance coverage of ingredients.
- Congratulations to Kyle and Rachel Zwieg of Ixonia who were named National Outstanding Young Farmers earlier this spring. The family milks 70 cows using robotics. They also operate 1,500 acres of crop land with autonomous technology. Kyle says the adaptation of new technology on the farm in addition to conservation efforts and more, led them to be winners in the National OYF program.
