Two recent pieces showed the advantages of bigger farms:
- the development of new and better equipment. Buying, maintaining, and operating new equipment is expensive, whether it's the change from horses to tractors as my father and more experienced, or today's change from manual labor to fancy robotics, as in the robotic milking machines or the robotic harvesting machines. See this piece.
- changing operations to respond to risks in the environment, whether by diversification as my father and mother added poultry to their small diary farm; paying for insurance against weather disasters or acts of God or against sicknesses and accidents (farming is a risky occupation); adding irrigation, or whatever. In the case of modern dairy farming, it seems being big enough to have an accountant, or at least someone specialized in strategy, at least according to this piece.
Risk management
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