Farmers are always operating on thin margins, looking for the best and most effective way to cut costs. According to a study from Michigan State University Extension, one of the best ways to do this is through foraging.
Foraging is a good way to increase a farms profitability, whether it’s through higher production of beef and dairy or through cash sales and make the most of your farm credit for the year. The gap between a high producing and low producing forage feed can range as much as 50% in alfalfa and as much as 26% in corn.
Foraging can also help with the cow’s health. High quality feed, knowing exactly what your cows are eating and where it comes from helps you have a more hands on approach to your cow’s nutrition. This can aid in a decrease of disease and any vet bills you may incur as a result. Some farmers have also reported a rise in their milk prices due to an increase in butterfat and protein.
These margins can drastically affect profits. Taking proper advantages of foraging can become more and more self-sufficient and rely less on purchasing feed from outside sources. According to the MSU study, farmers have purchased 10% less feed in 2016 and 17% in 2015. But the higher production all comes down to harvest time. Getting steered in the right direction with relation to what and when to plant is how you make the most of every acre.
Talk to an Ag mortgage specialist for more information and assistance with making foraging a new staple of your farming production.
- Less risk to invest in Canadian farms than US Ag land, but get the right mortgage
- Bank of Canada holds key interest rate steady at 1.75%
- Take advantage of the BOOM in ag land popularity
- Demand for these properties will surge in second half of 2018
- How Much Would an Interest Rate Increase Hurt Your Budget?