Projected hog profitability fell into negative territory in November, and hog farmers are marching toward a challenging marketing year as the calendar pages turn to 2016.
Nevertheless, it is a healthy business strategy to accurately gauge the current financial performance of the operation before calibrating a new plan. Each year can have its challenges, and you can diminish risk by exercising strategic thinking through gathering knowledge first, looking forward and always preparing to adjust.
Most seasoned hog farmers will probably say core business ideas and strategies stay the same each year, but outfoxing the “what ifs” can be an important step in a profitable year. Here are some business insights for this year to assist in formulating your individual company plan.