…won””t last forever! John Ellsworth reminds us of this certain fact in today”’’s Success Strategies segment on DairyLine Radio. Futures markets are currently predicting prices that average $15/cwt for 2008. Although this is positive, we need to recognize and be aware of upcoming changes that could decrease this number - supply & demand, tax breaks, interest rates, war and the upcoming election.

Ellsworth advises producers to think now and make decisions for your operation based on milk prices averaging $12/cwt. It is a perfect time to take advantage of high milk prices and reduce your overall levels of debt. Also, plan capital expenditures wisely; new buildings, more cattle and added equipment need to show a reasonably quick payback.

This entry was posted on Wednesday, January 9th, 2008 at 4:20 pm by sschmidt and is filed under Success Strategies. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.