Temple's Strategies for Enhanced Farm Profitability in 2024
Temple Rhodes talks about the changes he will make, and more importantly, the changes he won't make heading into this season in order to maximizing farm profitability and efficiency in 2024. Discover innovative solutions for overcoming market downturns, including leveraging 'legacy fertility' and reducing unnecessary expenses.
00:00 Hey guys, it's Temple Road with extreme Ag. So one of the problems, Rob, that we've, you know, we're up, what's up and coming, you know, 00:07 the concern on all the farmers are is how are we gonna make money this year? We barely made money last year 00:12 and then we had good prices last year. We grew pretty good crops for the most part, cross country, evidently it was a record crop. 00:18 We're going into this year where prices are down, fertility prices are down 20, 25%. So that, that Is, So that's A plus. That's 00:25 a plus. That's a plus. But marketing is off 35, 40% or more. It's bad. We can't cut fertility. 00:33 'cause fertility cuts yield. That's right. And yield pays bills. Yep. So I've been telling them, look, we need to be 00:41 as efficient as we can. So, I mean, what else can we tell 'em? Well, you know, I think the key there is gonna be like you 00:49 said, is we've gotta, we've gotta, we've gotta do what we know makes the yield. We cut out the extra passes that we, 00:55 we don't have confidence in. You know, sometimes we put passes out there that even though we feel like, 01:00 or we know we're getting a return, are we getting that return that we've proven year over year over Year? You know, 01:06 I have said that as well. And that's one of the things that I'm gonna do those, those passes, which is if it's a additive, you know, 01:13 I add on not just fertility add on. Yeah, I'll take those. I'm going to take those ones out this year 01:19 that aren't over 80% a win rate for me. They're gone. They're gone because that means that, you know, 20, 30, 40% 01:28 of the time it wasn't a win rate. I can't afford that to, to take that loss this year. So I am gonna cut those out. 01:36 Um, but as far as efficiency goes, one of the things that I, you know, you guys helped me with a solu 01:43 with a problem last year. We have litter ground and we have some legacy fertility out there. I don't know how else to say it. It's legacy, 01:51 some legacy, um, fertility. So we gotta find a way to break that up and get it into the plant 01:57 because for every a hundred dollars that you put in your bank account, basically that's what we're doing with fertility. 02:02 We're putting it into a bank of our soil. Only 30% of that I can get back out. What if I told you you could put a hundred dollars into your 02:09 account, but for this year you can only take $30 back out. Yeah. That's, that's, that's pretty rough. That's 02:15 Pretty rough. But what if I told you, you put a hundred dollars in and I'll let you withdraw 50. 02:22 I'm way in. It's better. It's better, it's better. And that's what we deal with with phosphorus especially, you know, 02:27 phosphorus is really inefficient in the soil. We usually see anywhere from 20 to 30% efficiency, you know, but when we add products, 02:34 especially products like nut neutral charge lease to ground that we've got all this legacy phospho in, 02:40 we can really get a a, an uptick in in that availability. You know, it has the ability to go in there and, and, 02:46 and break those bonds loose that are, that have got this phosphorus tied up and these other nutrients tied up, 02:52 break them loose, help mine that somewhat. You know, is it a complete replacement for your phosphorus fertility? 02:58 I don't want people, people to, to, to no. Get the misconception that it is, but it sure helps us bring a lot more efficiency 03:04 With a lot less. Well, I, the only way that I'm gonna, you know, some guys are like, I'm not going to add onto my, um, 03:10 fertility at all anymore, and I am the same way. What I'm gonna do is I'm gonna cut just enough out to pay for a product like that. 03:18 Sure. To make it more efficient to try to grow the same obtain yield that I had last year. That's my goal. Yeah. So that's my goal. That's my solution. 03:28 If I, if I'm wrong, I'm gonna find out Maybe this isn't the year that we we're trying to go and, you know, what am I gonna say? 03:37 You know, trying to, to get the, the super high yields. This is the year to get the really good yields. Well, I've been and be powerful. 03:45 I've been told my whole life, be careful. 'cause you can save yourself right into poverty. Absolutely. And, and I do believe that, 03:51 but I'm not gonna save myself in the poverty. But I sure as heck this year is gonna be, I'm gonna be as efficient as I possibly can be 04:00 and I'm gonna cut that corner. I'm gonna cut fuel costs, I'm gonna cut, um, you know, the cost of not being efficient with my fertility. 04:08 Yep. And I'm gonna spoon feed my crop because I believe that if we don't front load it all, we can spoon feed the crop all the way through. 04:15 And if I spoon feed that crop all the way through, if I have to cut somewhere, if the weather's not going my 04:20 way, I'm not front loaded. So I can cut that pass out as I go. So fuel and efficiency is where I'm going. 04:28 Well, maybe we'll be a little more efficient with our fuel usage and our fertilizer usages. Thank guys. See you soon.
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See All GrowersTemple Rhodes
Centreville, MD