01-02-2011 09:37 PM
Kansas State University conducted a 10 year study to see what factors resulted in profitable farming. They concluded that getting top prices was not a high priority because it was not something farmers could replicate or control. Instead, they say "...farm size, cost management and technology adoption are key drivers of profitability differences between producers."
"...producers should focus their efforts on those areas that impact profitability and are persisent (i.e., where my management efforts can have an impact). Over time, differences in profitability are driven principably by cost and yield differences, with cost being the more important of the two."