Know Your Numbers

By: Laurie Bedord

Endless statistics are involved in baseball. Earned run average, batting average, and runs batted in all fill an important role in evaluating a player’s progress. Like baseball, farming can focus on numbers that, if gathered and used correctly, add understanding to what is seen in the field.

“In my 20-plus years in lending, the one constant in agriculture has always been volatility. Because there are so many variables that can’t be anticipated, a farm’s survival depends on how it is poised financially to manage that volatility,” says Chris Olson, general manager, Rabo AgriFinance. “Quite frankly, managing the pencil is almost as important, if not more important, than managing the steering wheel.”