Publication Date

1-1991

Series Number

Miscellaneous Publication 4/91

Publisher

Department of Agriculture, Western Australia

City

Perth

ISSN

0725-84 7X

Abstract

Historically, commodity prices cycle between a "boom and a bust" every few years. Farmers are often able to adjust their operations to reduce the impact of a downturn in commodity prices by:

  • Increasing efficiency through reducing or maintaining input costs while maintaining or increasing production levels.

  • Maximising returns through seeking price premiums on commodities (protein, noodle quality, finer wool, increased clean wool yield).

  • Reducing overhead costs

  • Seeking cheaper finance or refinancing costly loans

  • Careful planning and management with a high degree of attention to detail.

  • Seeking advice

Number of Pages

32

Keywords

Farm management, Farm economics, Farm finance, Western Australia

Disciplines

Agribusiness | Agricultural Economics | Agricultural Science | Agriculture | Agronomy and Crop Sciences | Animal Sciences | Business Administration, Management, and Operations

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