Liquidity and Legacy

Liquidity & LegacyWith Ted Cawkwell, The Cawkwell GroupFarm balance sheets may look strong on paper. But beneath the surface, lending behavior is changing, capital is more disciplined, and the margin for error is narrowing.In this live conversation, Dan and Ted discuss:Why profitable farms can still experience financial pressureThe difference between strategic sales and forced salesHow liquidity issues surface before they become obviousWhat well-prepared farm operations tend to have in commonWhy “just hold the land” isn’t always a complete strategyTed works directly with farm families, lenders, and advisors across Western Canada and beyond. As the #1 RE/MAX farmland realtor globally, he has been involved in hundreds of farmland transactions and sees patterns long before they become headlines.This episode is not about predictions. It’s about structure, positioning, and understanding how capital behaves when conditions shift.Chapters / Timestamps 00:00 – Introduction & why this conversation matters 02:30 – Market sentiment vs. reality on farmland values 06:45 – What’s changed recently in buyer and seller behavior 12:30 – Profitability, cash flow, and leverage pressures 18:00 – Liquidity vs. legacy: real tradeoffs 26:00 – Investor behavior, rental land, and capital availability 34:00 – Risk, balance sheets, and selling strategically 42:00 – Productive vs. marginal land dynamics 50:30 – Perspective, cycles, and long-term thinking Register for the Convergence Conference at convergence.ag and stay updated by subscribing to the Growing the Future Podcast at growingthefuturepodcast.ca.