The Farmers Club Newsletter

The “Club Notes” for Monday, the 11th of December 2023

By Dwain Duxson

If you can, please get your family, friends and colleagues to sign up. See the website link here.

Scenario planning

As we all peek our heads up collectively with some form of renewed confidence and a newfound excitement as to what is happening in the Livestock industry, it would be good to do some scenario planning. I was in a text conversation with a subscriber over the weekend, and he sold all his Cattle near the top of the market last year and has bought many more back at what he said was a 3rd of the price recently. Good luck, yes. Good management, yes, that too. I would also call it good scenario planning. It's sorta looking into the future and not trying to predict it but giving some thought as to if I do this and this happens, or that happens, where does it leave me. Then, of course, making a decision on the back of one of those scenarios. In Farming, we yearn to sell at the abosulte top rather than taking a good margin at a price you are happy with. Or we hold on thinking the market is going to go up, and it doesn't. Next time a big decision comes along, jot down 2 or 3 different scenarios down that you think might happen and run with one. Have you ever done any scenario planning? Reply to [email protected]

When making a decision…..

We all have to make decisions every day. And as Farmers, we have to make a lot of decisions, way more than most. Most of them are pretty small, but as a collective, they usually add up to something significant. The one percenters, they call them. Some of us make decisions ourselves, and some of us make decisions through committee. By that, I mean when making the big decisions, we like to consult others. I find, though, that getting too many people involved in making the big decisions tends to confuse the issue. As I get older, I tend to rely on fewer people rather than more to make big decisions. Committees or boards have their place, and I have been involved in both; I like and respect the ideas that come from consulting others, and you have to keep an open mind and treat every idea the same. But it's up to the individual as to how many you do or don't consult. How do you prefer to make decisions on your Farm? reply to [email protected]

The Farm Christmas party

Do you have a Farm Christmas party? It might be disguised as the after- Harvest cut-out, but I think it's important to have something for you and your staff. Just to sit down and have a casual and not essential debrief as to what happened during the year is important. You could use it as the point in time when things start to wind down a little, and staff might be able to take a couple of extra days off and recharge. I know some will be working, but there is nothing wrong with having your Christmas party after Christmas. At our Farm Tender business, where we all work remotely, we won't have our Christmas catch-up until March when we can catch up face to face. A Christmas party can come in many forms; it can be as big and flashy as you like, or it can be just a couple of drinks in the backyard for a couple of hours; that's your call. If you haven't planned anything, make sure you do, as I think it's something the staff would expect. Have a good one, and enjoy your day and/or night. Reply to [email protected]

End of the line

I was listening to this podcast featuring the late Charlie Munger over the weekend and found out that he and Warren Buffett invested in the Railway because it's the most efficient way to transport goods, and they can then obtain good, reliable margins. It got me thinking about Trains. I like trains and Paula, and I went on one to Melbourne at the weekend. I reckon my liking for Trains stems from my childhood, when we used to live on a Train line, and Grain Trains would go past the front gate regularly. Apparently when I had just learnt to walk, I took off and was found down the train line a bit. I used to love watching the Train go past as a kid, and I also remember the Railway repair line workers on what we called the monkey cart. That old Bolangum line doesn't exist anymore, but the memories are still there. See a picture below of a Train near the old Bolangum Silo. Do you have a liking for Trains, too? Reply to [email protected]

End of message.

Dwain Duxson
0427 011 900

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