Economics
Social Security, Medicare: Tips for navigating the system
For anybody, including farmers, approaching the traditional retirement age, social security and Medicare begin looming large on the horizon. These large government programs can seem overwhelming and confusing to navigate, leaving one wondering where to start. “Navigating is an appropriate term as it can feel like you’re a bit lost…
Insurance woes
Elevators across Eastern Washington are suddenly finding it hard to insure parts of their structures regardless of condition, and if they do find insurance, the price is sky high. Palouse Grain Growers Manager Mike Bagott said they were unable to renew the insurance on their wooden crib elevator through their…
Financial liquidity stress test
A common theme played out over the decades is that the lack of working capital and financial liquidity is often the choke point for financial and economic sustainability. This has been observed numerous times over the years in governments, households, and businesses. The financial stress of inadequate liquidity often comes…
Successful asset allocation means different things at different times
What is asset allocation, and why is it important for farmers to get it right? Jordan Thayer, a financial advisor with Morgan Stanley, breaks it down. Define assets in this context. Essentially, asset allocation is the decision surrounding what percentage of your investments should be in stocks vs. bonds vs….
Rising interest rates uncover investment opportunities
While it may be hard to find the bright side of rising interest rates — just ask a Washington wheat farmer who’s already dealing with high input costs — there are investment opportunities to be found. According to Jordan Thayer, a financial advisor with Morgan Stanley, banks may charge more…
Juggling the economic triple play
In baseball, a successful triple play only occurs when the convergence of events is navigated using precision execution. Moving to farm and ranch management, global macroeconomic, geopolitical, fiscal and monetary policies are resulting in the economic triple play. Strategic operations in an agribusiness requires one to simultaneously manage prices, costs…
AMMO is coming to town
The Agricultural Marketing and Management Organization (AMMO) is back, with a 2023 calendar that includes seminars on herbicides, taxes and the markets. “We are excited to be fully back to in-person seminars this year. I think many people are tired of webinars and are looking for opportunities to get away…
Honest retirement considerations for farmland
Ask an ag producer what three things they consider key to the overall success of their farming operation, and the prevalent response will be hard work, honesty and family relationships. There isn’t a day that goes by that your farming operation doesn’t rely heavily on each of these key components…
Washington ag’s 2021 top 10
Thanks to the impact of the 2021 drought on wheat’s value of production, the crop slipped from No. 3 to No. 4 in the list of Washington state’s top 10 agricultural commodities last year. Apples remained at the top of the list, followed by milk, then cattle and calves, which…
Managing the economic, 3-headed dragon
The economic journey that lies ahead is going to be a three-dimensional pathway full of challenges, but also opportunities for the proactive manager. Along this journey, disrupters can occur to bottom-line profits in the form of the three-headed, fire-breathing dragon. If not properly managed, it can lead to burning through…
