41 The Business of Prairie Agriculture Better Farming | May/June 2024 like their grandfather did. (Nothing wrong with grandfathers – I am one, too.) They haven’t changed their farming techniques in decades. Knowledge of markets You have to know what you can produce and what it’s worth. You have to know if you can sell what you produce. This might seem obvious, but I think many of us don’t look too far past what we got for the crop last year and what we can sell it for this year. We need to look at historical prices and try to figure out what causes the price swings. If you look at grain prices, you will see that just about everything hit its highest historical price about two to three years ago. One crop, however, had periodical high prices every five years. I found this on the Saskatchewan dashboard. Find out the history of your product, whether it be crops or livestock. What were the prices in the past? What affected those prices? Can you lock in prices before they change for the worse? Should you change your plans because of the market price? Tractors, Trucks & Growing Grain Plan for disasters to occur but hope for the best. Tracy Miller photo
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