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Preparation
Read "Key
Financial Performance Measures for Farm General Managers"
(ID-243).
Review MBC Farms case study.
Purpose of Lecture
Many farms look to growth to counter the structural changes found
in the grain and livestock markets. Deciding how big the
business should be depends on the income needs of the operators
and the requirements that must be fulfilled to participate
in the market. This lecture shows how to assess those needs.
Structure of Presentation
The theory of farm size is first reviewed, then the calculations
are illustrated. An exercise to assess income needs is provided.
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