Diversifying income

50x100x16 One side sheeted. One gable sheeted materials.

50x100x18 Roof only Materials

40x50x12 enclosed w/3” reinforced vinyl back insulation. 1- walk thru door, 2-10x10 openings, 26 ga. 40 year painted metal. All red iron frame. Materials.

INSTALLATION AVAILABLE

Call for pricing due to rising cost of steel.

All American Steel Buildings Pole Barns • Commercial Buildings Agricultural Buildings • Shops Custom I-Beam Construction Toll Free: 1-888-364-9527

Offi ce: 417-671-8015

Fax: 417-671-8018 Hours: Mon-Fri 8am - 5pm 12760 St. Hwy 76 • Cassville, MO 65625 www.superiormetalsalesinc.com sales@superiormetalsalesinc.com

farmfinance

Income Ideas for Tough Times

By Kathy Daily Producers can diversify their income by offering custom services and other products The last few years have been difficult years for farm• Custom manure spreading if you have ade- ers and ranchers, but 2020 is one for the record books. quate equipment. Be sure to check for state and local permit We would never have imagined that we would be facing some of the requirements. lowest prices in decades, dumping milk, shutting down slaughter plants and facing a pandemic, not to mention the social unrest in our nation. • This is the year when it may be necessary for you or your spouse

It doesn’t matter how dire the news, the daily lives of farm famto seek off-farm income to help with family living ilies go on. The cows still need to be milked, hay still needs to be expenses and health insurance. It may not be something cut, corn needs to be planted, calves are still being born and there that you want to do, but the net affect may put you ahead when are still bills to be paid. you consider the cost of benefits.

So what do you do when your farm or ranch isn’t making as much money as it used to? I’ve written articles, and so have many others, • Are you or your spouse good at bookkeeping? about how to cut expenses, so this time we are going to focus on a Could you help another farm family or business few ways to increase income. with their bookkeeping needs? This would be a good • Custom machinery services – use your machinery to do custom planting, spraying or har• Sell unused assets vesting for your neighbors. This such as equipment you is often done, so I’m probably not no longer need or use. We telling you anything new, but have tend to accumulate a lot of extra you ever thought about buying equipment that never gets used. a snow plow and cleaning parking lots for local businesses in the • If you raise produce winter? That is usually a slow time or just have a home gar- for most farmers and a little inden, consider planting a vestment could bring you income few extra rows and sell- during the winter. ing some at the farmers market or at the end of • Add another enter- your drive. If you live out prise that doesn’t re- west, this probably isn’t a good quire a huge capital in- idea, as you may not see your vestment. For example, cattle neighbors for days. producers may look at running sheep with their cattle. Cattle • Consider bee boxes and sheep graze differently and use different portions of the forage and honey sales. They take little room on the farm, help in base. Research has shown that you can effectively add one ewe for pollination and local honey is growing in popularity to assist in every cow you graze. allergy prevention.

This could help maximize returns from your most expensive asset, land. I understand this isn’t for everyone, but in some areas of the • For our ranch friends – have you considered a country it could be an option. Cow Camp experience for a group of hunters or a • If your farm is near a lake or recreational cowboy experience. Campfire cooking, horseback riding and sleeparea, consider allowing boat and RV parking on a ing under the stars. non-productive portion of your property. Folks from source of income that would allow for a flexible time schedule. family? It doesn’t have to be a decked out lodge. Give them a real the city or suburbs will pay good money for boat and RV storage These options may or may not be right for you and your operation, but over the winter months. maybe they will get your wheels turning a little and help you realize that there are some unique options which you may not have thought of yet. • Increase utilization of your feed mixing equip- Kathy Daily is the managing director of First Financial Bank’s Farm ment by mixing for other producers in the area. and Ranch Division.