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 over 110 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:  507-752-5081

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News

Agricultural Business Management News

07/16/2021 - 13:12

Feed Cost

by Nathan Hulinsky, Extension educator, Agricultural Business Management

Feed cost is the most important and expensive input cost on a dairy farm. For a combination of reasons, feed costs have risen sharply since the fall of 2020. At Central Grain in Sauk Centre June corn prices are around $6.70 with a positive $0.10 basis, with higher positive basis for late summer.  Soybeans are around $15.00 with negative $0.40 basis. These are very competitive bids.  Futures prices this fall are currently several dollars per bushel lower than nearby contracts. If you have any excess grain, consider contracting it for sale this summer. 

 

Becoming a Great Farm Supervisor

06/11/2021 - 10:30

Do you want to improve your skills as a farm supervisor? In this four-part webinar series, we will cover leadership and communication, hiring and supervision, employee culture and employee handbooks, and leading with confidence.

Click to register

Using marketing plans to take advantage of current markets

05/27/2021 - 15:34

 by Dave Bau, Extension Educator, Ag Business Management, U of M Extension Regional Office, Worthington

Farmers should develop a marketing plan to take advantage of great prices offered for 2021 and 2022 crops. Marketing plans have many components. What should a farmer include in a marketing plan?
Cash flow needs: When starting a marketing plan, a major factor contributing to when a farmer sells crops is when there is a payment or cash flow demand. Start a marketing plan with a list of when cash needs to be generated. Click here for full article

Extension of Tax Filing Deadline for 2020 Individual Returns

03/23/2021 - 11:15

March 21, 2021

By C. Robert Holcomb, E.A., Extension Educator, Agricultural Business Management, University of Minnesota Extension 

On March 17, 2021, The Treasury Department and Internal Revenue Service (IRS) announced that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021.  IRS will provide additional guidance in the coming days...