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Changing Farming Systems – Financial Implications for Farming Businesses

Author

Listed:
  • Bennett, Anne L.
  • Edward, Alex
  • Herbert, Allan
  • Kingwell, Ross S.
  • Peak, Caroline
  • Rodgers, David

Abstract

Future prosperity of farming businesses depends not only on immediate prospects, but also on the capability to adapt to changing circumstances. In looking to the future, farm managers need to assess where the current farming system is taking them, and whether changing to an alternative farming system might be more profitable. There are various techniques for assessing the profitability of alternative farming systems, but frequently the cost of transition is overlooked. The financial consequences of transition to a new farming system are assessed for two case study farms using a spreadsheet tool (STEP), developed by the authors. The tool assists farm managers in assessing the risk of transition strategies as well as comparing rotations.

Suggested Citation

  • Bennett, Anne L. & Edward, Alex & Herbert, Allan & Kingwell, Ross S. & Peak, Caroline & Rodgers, David, 2003. "Changing Farming Systems – Financial Implications for Farming Businesses," 2003 Conference (47th), February 12-14, 2003, Fremantle, Australia 57834, Australian Agricultural and Resource Economics Society.
    • Handle: RePEc:ags:aare03:57834
    DOI: 10.22004/ag.econ.57834
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    Cited by:

    1. Bennett, Anne L., 2003. "Changing Farming Systems - Case Studies Assessing the Financial Implications," 14th Congress, Perth, Western Australia, August 10-15, 2003 24368, International Farm Management Association.
    2. Greijdanus, Auke & Kragt, Marit Ellen, 2014. "A summary of four Australian bio-economic models formixed grain farming systems," Working Papers 170195, University of Western Australia, School of Agricultural and Resource Economics.

    More about this item

    Keywords

    Farm Management;

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