Welcome to April 2019 and this month’s Farmanco Facts!
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Keith Symondson, CEO has written the April Editorial and says that the best‑performing companies – whatever their size – share some common elements. And that the most important thing for any size business is to have an idea of –
- what you want to achieve
- a plan for how you’re going to achieve it
- a way to measure that you are doing all the things you planned to do; and
- a method of reporting how you did, so that you can continue to improve in the future.
Read your copy of Farmanco Facts for more wisdom from Keith!
David McCarthy of Bedbrook McCarthy Private Wealth Management shares his thoughts on the recent headline “Australian Share Market sheds $52 billion following Wall Street slump overnight” (25 October 2018 ABC News) in his article “Australian share market sheds $52 billion – do you care?”
Key points from other articles are outlined below:
Tips and Traps when using the Agrimaster ‘File Manager’ system, by Rob Sands
|Failsafe operating system for Agrimaster||How ‘File Manager’ works|
Soil wetters: What are they and where should they go? by Andrew Smith
|Soil wetting agents are proving to be a good ‘short term mitigation tool’ when dealing with water repellent soils||Treat all products with caution, not all products are compatible with Urea Ammonium Nitrate (UAN) and they each have their own use pattern|
Single touch payroll – what do you need to do? by Rob Sands
|This is a developing space so don’t rush in to signing up to expensive programs||Between 5-19 employees, you need to lodge a STP report on your first payment run after the 1st of July 2019|
|If you employee four or fewer employees: a) You have until the 30th of September to lodge your first STP; and b) You can submit quarterly until the 1st of July 2021||Free or low-cost software programs available and more are being developed|
|The ATO may build a portal to allow you to submit the STP|
The history of the Chicago Board of Trade (or CME Group), by Jane Packard, Grain Market Analyst
|The movement of agricultural goods throughout the US has its foundations on the inland waterway system||The Chicago Board of Trade (CBOT) was founded following the need for price security and to help manage seasonal production and supply and demand|
|Producers needed a common place to trade and merchants needed agreements to buy grain now but pay and deliver (cash settle) later in the year||The futures market also emerged from the need to get commodities efficiently from producers to consumers|
|CBOT went on to become an amalgamation of four major exchanges and is now called the CME Group||The CME Group trades many commodity/ asset classes and also owns the Dow Jones stock and financial indexes|
|The CME Group also owns and operates derivatives and futures exchanges in New York and Kansas City||Australian producers use the CME futures market as it is viewed as a proxy for world wheat values (although its relevance is being challenged, and that’s another article topic all of its own!)|
FARMANCO PHOTO COMPETITION – closes 30 April 2019
Every edition of Farmanco Facts includes updated Wool and Livestock Reports for WA and NSW/VIC, prepared by Richard Brake, Farm Management Consultant.