Did you make a profit last year?

What were the factors contributing to the result?

Yield and price are normally the two factors discussed and to a large extent are out of your control.

What about cost of production factors?

There are more producers than purchasers of farm commodities, which means most farmers are price takers.

With the price dictated it is important to understand the cost of production for better management decision making.

The information needed     to calculate costs of production are size of production, variable costs and overhead costs.

This information is readily available at your fingertips and with the various cloud record-keeping options available it has never been easier to keep a close eye on these costs as a comparison to budget forecasts or as a comparison to historical data.