(IARN) — “A lot of times we focus on price too much,” shares Matt Bennett, founding partner of Ag Market, the Farm Division of John Stewart and Associates. Bennett suggests producers consider profitability when making farm-based decisions.
Ag Market encourages producers to focus on profit, not price. Bennett further speaks to this different marketing approach.
“Four-dollar corn is what people have their sights set on now that we’re below it. Four-dollar corn this year is a little different than what four dollar corn meant last year, as far as profitability goes. Costs are a little lower. I don’t know about land. That’s going to be different for everyone. But as far as fertilizer and diesel fuel goes, I can sell less corn and pay for those costs than what I could last year at four-dollars,” Bennett said.
Ag Market helps producers monitor profitability through a new tool, called The AgMarket App. The mobile application provides “real-time profitability.”
“It gives you breakeven prices, tracks your sales and show you how your sales impact the breakeven of the bushels you have left,” Bennett said. “It’s an accounting tool, as well as a farm software tool that’s going to give you a chance to be more organized and aware of your situation from a profitability standpoint.”
Ag Market offers producers a free, two-week trial of The AgMarket App, which is available through the App Store and Google Play.
Story and image courtesy of the Iowa Agribusiness Radio Network.
