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Overview

The Southwest Minnesota Farm Business Management Association is a membership-led organization of farms throughout southwestern Minnesota. The focus is entirely on improving members' farm financial management skills, knowledge, and success.

The association provides members with analysis, confidential peer farm benchmarking, individual consultations and direct connections to University research and expertise.

A group of farmers in southwestern Minnesota founded the SWFBMA in 1939 to help area farmers implement better farm management practices and keep accurate records. Today, the association is based out of the Southwest Research & Outreach Center and is affiliated with University of Minnesota Extension Agricultural Business Management and the Center for Farm Financial Management.

Membership

Association members pay a fee for individualized farm management assistance and access to educational opportunities throughout the year. Association field staff work directly with members to improve record keeping and provide a comprehensive farm financial and profitability analysis.

There are currently 130 farm members in the Southwest Farm Business Management Association. Learn more about the benefits of membership.

Contact Information:

23669 130th Street, Lamberton MN 56152
Office Phone:  507-752-7372  Ext: 2008

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News

An early look at 2024 SWMFBMA financials

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The 2024 net farm income results are disappointing but not entirely unexpected. Net farm income has reached a 25-year low and is the third lowest since 1984.

Despite a significant decline in liquidity, farms in Southwest Minnesota remain in relatively strong financial condition. Family living expenses are at record levels; however, an average small increase in equity was observed.

How is it possible to have weak profits and record family living expenses yet still see an increase in equity? To learn more about this and to hear the complete results of the 2024 analysis from the members of the Southwest Minnesota Farm Business Management Association, join us at the profitability conference on March 24 from 1:00 to 4:00 PM. Click here to register: https://z.umn.edu/SWFMPC25

Hoard’s Dairyman

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As the value of farmland continues to rise, it is important to understand how to build and maintain relationships with potential buyers and sellers. If you are looking to build your land base, negotiation with such individuals will become crucial. Extension educator Garen Paulson gave some tips on how to properly negotiate farmland to help achieve your farms goals in a University of Minnesota Extension article.