The word “profitable” in agriculture sometimes elicits a chuckle among ranchers and farmers. But of course it is no laughing matter.
Many agricultural enterprises struggle to make a profit. Some lose a great deal of money, but others are quite successful. What factors are responsible for the difference between success and failure?
Although profitability is a complex issue, there are some things producers can control. One of those things is management of the business. Management — the adoption and implementation of certain practices of a farm or ranch — has a huge impact on profitability. University studies have determined which management practices have a positive affect on production efficiency and profitability.
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