April 22nd, 2010 - It's not uncommon to see an X-Ray machine at a physician's or dentist's office, but recent research at Mississippi State University may prove to utilize X-Ray machines at seafood processing and commercial produce operations. Research found that X-Ray machines could be a effective way to find and decontaminate food products. This would be an interesting addition to the agricultural industry that no one could really see coming. Vibrios, which is a bacteria found in raw oysters that make them dangerous to eat, however, the technology could be used to find this bacteria and eliminate it while keeping the oysters alive through the entire process. Quite an interesting find by the Mississippi college; A new chapter in Agricultural Industry processes.
March 18th, 2010 - Advances in Agriculture Equipment
makes work easier for farmers, harder on their wallets. As the industry continues to develop new technology, two major precision ag companies have formed an alliance, Ag Leader of Ames (precision software and hardware) and AutoFarm (precision positioning and intelligent control systems). They recently released two new products to the market, and expect more new products shortly. Integra display is a high definition touch screen which manages all the operation controls in a tractor or vehicle. Paradyme is a system suite for precision farming tools including planter control, yield monitoring, data logging and mapping, as well as GPS steering.
February 10th, 2010 -
At the recent Agricultural Exposition in Moultrie, GA many new products for Agricultural Equipment came to the public's light. LS Tractor is a new name coming out of Korea that has supplied OEM tractors since 1998. It's now started producing and marketing its own models of Farming Tractors. Utility Tractors manufactured by Daedong Industrial have become more widely available in the US offering several models in a high performance utility line. Herbicide application, the Grassworks weed wiper is now available in a 40 ft. model. The larger the weed, the more chemical is applied. With the ongoing advancements in the Agricultural Industry, expect more models as usual at next year's Sunbelt Agricultural Exposition.
December 31st, 2009 - If you purchased and put into use new agricultural equipment in 2009 you are eligible to write off that purchase using Section 179 of the IRS tax code. If you aren't utilizing the increased write-off amount ($250,000), your business might be missing it's full potential. That could mean real-money-in-your-pocket, back from the government! Find out more at our Section 179 section.
January 26th, 2009 - While the Agricultural Industry has not been exempt from the recent economic downturn in 2008 and early 2009, there are ways to "recession-proof" your business to navigate through these tough times. It's important to keep your balance sheet on an even keel until macroeconomic conditions improve.
Things to consider:
•Enroll in ACRE - Average Crop Revenue Election (The new farm bill program) allows crop producers the ability to substitute a gross revenue protection plan for the current price counter cyclical program with guarantees based on higher price levels and current yields.
•Shop around for Inputs - Depending on your supplier, and when they booked their costs for fuel, pesticides, fertilizer, and other inputs, prices could have impacted the sale price dramatically. Check in periodically with your supplier to see if this is true for them.
•Document Yields for a possible insurance or SURE payment - Crop producers may be eligible to receive an insurance indemnity payment due to the falling prices, rain damange, or floods that occured in '08.
•Purchase new equipment utilizing the tax benefits of a Lease - Now more than ever is the time to purchase new equipment with a lease option. Saving your capital for other expenses is a MUST.
•Know your costs of production - If you are one of the many who are feeling the demand decrease, now is an optimal time to review your entire business model. Often when times are great, business owners get caught in the "grind" of things and avoid spending time on perfecting their business. Now is the perfect time to review your efficiency.