Farm profitability: Benchmarking for better decisions
Published: April 15, 2020
Updated: April 15, 2020
The pressures affecting farm profitability are growing. Especially with recent developments surrounding the COVID-19 pandemic. Financial benchmarking helps farmers make better business decisions by highlighting operational performance trends and showing them how they compare to other Canadian farms. Keeping track of every detail is more even more important when supply chains are so profoundly affected.
Our report focuses on the following areas:
- Benchmarks and how to apply them to your farm operation
- Financial benchmarks for farms within different sectors, with per-acre and per-kilogram analyses
- Regional comparisons within the same sector
- Overall farm profitability for grains and oilseeds, dairy, beef feedlots, and poultry sectors
Ultimately, our report and standardized financial statements can provide practical insights into managing farm operations. These are key to identifying priorities for farm business and contingency planning, as well as overall profitability.