Melissa Rebbeck’s column in this week’s Stock Journal, looking at the relationship between prior rainfall and follow up rainfall, makes for an interesting read. In it she talks about a program called Australian Rainman which uses long term data from Bureau of Meteorology weather stations to help forecast what rainfall is likely for your area. Previously selling for $600, this program can now be downloaded free of charge at http://www.daff.qld.gov.au/plants/field-crops-and-pastures/broadacre-field-crops/cropping-efficiency/rainman.
Any tool that helps manage risk is worth looking at to see if it works in your situation. Whilst any forecasting software will never be 100% accurate, Rainman is certainly worth using to have an idea of what future rainfall patterns are likely to be.
This advice is provided by Phillip Dibben under Financial Services SA rural business consulting services.
Phillip Dibben is an MFAA Approved Credit Adviser, including SMSF lending, and is an Authorised Credit Representative with Riverland Lending Services Pty Ltd, ABN 37 1415 814 080 ACL 391835, and is licensed to provide advice in all consumer and business loans including equipment finance. All loans are subject to lending and approval criteria.
Phillip Dibben is also a financial adviser at Active Financial Management. Active Financial Management and its advisers are Authorised Representatives of Fortnum Private Wealth Pty Ltd ABN 54 139 889 535 AFSL 357306 trading as Fortnum Financial Advisers.
This information does not consider your personal circumstances (including taxation) and is of a general nature only. You should not act on the information provided without first obtaining advice specific to your circumstances.