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MB, Canada | If you are going to base decisions about your future on things that haven't happened to the market yet, then I hope you're very good at it, in which case you should be in the commodities market.
In my experience, if you spend your life waiting for the optimal time to do anything, you'll generally end up doing very little. I'm not saying to go out and buy $4000 bred cows, but maybe they are going to be a bit more than they will be in 3 years, or 6 years, or 9 years, or whenever the next trough hits the market. But if your pastures are understocked and you could be improving them faster with a higher stocking rate, then your feed bill suddenly looks really cheap. And if you're putting in the time to calve out 40 when you could be calving 80 almost just as easily, your labour starts to look really cheap. When people talk about how expensive it is to keep a cow around for a year, there are a lot of those numbers that move dramatically with scale. A larger scale makes your existing cows cheaper to take through a year.
Don't do anything too drastic, but also don't wait for the world to give you permission--the part of your career when you will have both the energy and drive to grind and build your business is not long enough to be sitting on your hands for years at a time. | |
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Preparing for lower prices
