Agriculture
28 August, 2024
Economist will talk on farming factors
AGRICULTURAL economist Professor Ross Kingwell will reveal the top farm performance factors at Birchip Cropping Group’s main field day next month. After tracking the financial performance of 250 farms over 10 years Professor Kingwell said there...
AGRICULTURAL economist Professor Ross Kingwell will reveal the top farm performance factors
at Birchip Cropping Group’s main field day next month.
After tracking the financial performance of 250 farms over 10 years Professor Kingwell said there were factors farmers might not expect.
“Farming is not a nine-to-five job and it can’t be. You have to commit to that lifestyle to be successful. You do have to put in 70 hour weeks at various times of the year,” he said.
“In contrast the most successful farms are not the work-a-holic businesses. Rather those that spent more time focusing on planning: farmers who are okay with more office and phone time rather than the doing - the cab or maintenance time for example.”
His research also showed strong social networks and personal development were key performance indicators.
“While social supports within the businesses proved positive, those outside the organisation, including networking with advisers and researchers also boosted farm performance,” Professor Kingwell said.
“Success in farming is about getting the big decisions right, but it’s also about the one percenters; doing the smaller things at the right time in the right way.” Farm expansion and machinery investment were also key performance factors which Professor Kingwell will expand on at the event targeted at farmers and advisers across the region.
Professor Kingwell will also deliver a critical message to growers regarding the importance of understanding and lobbying for protection and improvement of their grain supply chains.
“Victorian farmers can’t change the world price of grain. Supply grain costs beyond the farmgate get taken off that world grain price to create farm-gate returns for farmers,” he said.