Notable Quotes from Badger NAMA’s Harvest Panel

Did you miss the November Harvest Panel event? We’ve captured some of our favorite quotes from our panel of experts.

Nov Harvest Panel

Jacquie Voeks, Senior Market Advisor at Stewart-Peterson
“$8 corn was the worst thing that could have happened to the agriculture industry.”
“Corn farmers need to think like livestock and dairy farmers and start looking farther ahead.”
“Markets don’t wait for you to do something, you have to take action.”
“When you don’t market, you are making a choice to take whatever they are going to give you.”
(Referring to the east coast) “You don’t own your land unless you came over on the Mayflower.”
“You need to know the value of what you’re producing.”
“One of agriculture’s struggles is having able-bodied employees willing to take on the hours. Not many young people are willing to do that.”

Pat O’Brien, Dairy and Crop Farmer, Stoner Prairie Dairy
“Never in my life did I ever think that I would see $26 milk…I remember when milk was only $9 in 2009.”
“As farmers we have to keep up with technology. I had to take a keyboarding class so I could use my lap top. Now I have a smartphone that does more than I even know how to use.”

Doug Cropp, Executive Vice President of the grain division at Landmark Services Cooperative
“As farmers, you need to know your cost of production.”
“The best advice I can give farmers is to protect your balance sheet – know what decisions are good for cash flow is and what decisions are negative to cash flow.”
“When you’re discussing lending, you have to be smart because the volatility of the industry is affecting lenders.”

Dr. Kevin Shinners, Professor at UW-Madison in Biological Systems and Mechanical Engineering
“Equipment companies spend 3-4% of sales on research and development. They can’t pull the plug when times get tough. When the market rebounds, they need to have new products to sell.”
“We’ll see more farmers wanting to repair their equipment instead of rolling into new. Then the parts volume goes up for dealers, and this is normal during down times like this.”
“Emissions regulations forced higher equipment sales. Farmers weren’t so interested in investing in that new technology.”
“A 200-250 horsepower tractor from the 1990s is really valuable right now.”
“Farming, compared to the ‘80s, is in great shape.”

Max Wenck (Panel Moderator), Principal at MorganMyers
“The problem with some farmers today is that they don’t remember the 1980’s.”
“We miss what we don’t look for, so it’s critical that we take a 360-degree view to shape our communications and marketing.”
“It’s not just what we say but how we say it that can either make a deposit or a withdrawal in our ‘trust bank’.”
“Be relevant. Follow change.”

Share your favorite quote from the panel or your own harvest quote on the Badger NAMA Facebook page!

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