Center for Agricultural Profitability: Recent Episodes
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With Shannon Sand, Extension Educator and Agricultural EconomistBuilding a strong workforce for agriculture is imperative to food security in the U.S. Part of that is increasing retention which, many agricultural companies have been focusing on in the last few years. Good employee retention strategies can help reduce turnover, increase productivity, and improve workplace morale. With the changing ag workforce, H2A workers have become of more interest to many producers in Nebraska. This webinar will cover the basics of what is an H-2A worker, and what the basic steps are when trying to hire H2A workers.More: https://cap.unl.edu/building-resilient-ag-workforce-webinar-2025/
On this episode, we're talking about custom rates for field operations. Whether you’re a producer hiring custom work or a provider offering services, understanding pricing trends and operational costs is key.Glennis McClure, an Extension Educator with the Center for Agricultural Profitability at the University of Nebraska-Lincoln, joins to discuss. McClure helps lead efforts on the Nebraska Custom Rates Survey, which provides valuable data to producers and custom operators across the state. She highlights what the surveys cover, how they can be used, and why understanding the economics behind custom work is more important than ever.Read more: https://cap.unl.edu/news/custom-rates-2025-field-operations-mcclure-250213/
Data from USDA’s National Agricultural Statistics Service shows that Nebraska farm real estate values increased by 6.8% in 2024, with cropland and pasture values seeing notable gains. County-level cash rent estimates also reveal trends in rental rates across the state. To break down these numbers and what they mean for farmers, ranchers, and landowners, we're joined by Jim Jansen, an agricultural economist with the University of Nebraska-Lincoln. Jim leads efforts on the University of Nebraska’s annual Nebraska Farm Real Estate survey, which publishes a preliminary report of updated average land values and rental rates every spring, followed by a complete report in the summer. His new article on our center’s website looks at the findings in these areas from USDA, which is what we cover here. Read more: https://cap.unl.edu/news/usda-reports-land-values-and-county-level-cash-rent-estimates-nebraska-2024-jansen-250210/
With Jessica Groskopf, Extension Educator and Agricultural Economist, University of Nebraska-LincolnFarms and ranches require more than just a standard estate plan — understanding the difference between estate planning and succession planning is crucial. Unfortunately, this distinction is often overlooked until it's too late. In this webinar, Extension Educator Jessica Groskopf will dive into the key differences between estate and transition plans and outline important considerations to ensure you have the right plan in place for both your assets and your operation’s future.More: https://cap.unl.edu/estate-planning-vs-succession-planning-250206-webinar/
On this episode, we’re joined by Shannon Sand, an agricultural economist with the University of Nebraska-Lincoln’s Center for Agricultural Profitability. She recently wrote an article about IRS requirements for issuing 1099 forms — a topic that’s especially relevant for farmers and ranchers this time of year. Whether you hire independent contractors, rent land, or make other payments that could require a 1099 filing, it’s important to know the rules to avoid potential penalties. Article: https://cap.unl.edu/news/who-needs-fill-out-1099-sand-250203/
With: Dave Aiken, Professor, Agricultural Law and Water Law Specialist, University of Nebraska-Lincoln Department of Agricultural Economics.This webinar will unpack the Corporate Transparency Act and its new Beneficial Ownership Information (BOI) reporting requirements, now affecting many agricultural businesses. Many Farmers, ranchers, and agribusiness owners have until Jan. 1, 2025, to comply with the act’s requirements, or face financial penalties. The webinar will cover what the act means for ag business owners, who is required to report, and the steps they need to take to ensure compliance. Join us to understand how these regulations may impact your operation and get practical guidance on navigating this reporting requirement.
With Jessica Groskopf, Extension Educator and Agricultural Economist, UNL.Join us for an insightful webinar designed specifically for farmers and ranchers looking to better understand and manage debt in their operations. In today’s agricultural landscape, debt can be both a tool for growth and a source of stress. This presentation will cover essential concepts and strategies to help you make informed decisions about personal and business debt.
With Glennis McClure, Extension Educator and Farm and Ranch Management Analyst, UNL.This Ag $mart Money Week is designed for participants that want to know more about figuring their cost of production for 2025 enterprises. Creating budgets for our crop and livestock production is a fundamental business management practice. During this 1.5-hour program, we’ll focus on:-A sneak peek review of the 2025 Nebraska crop budgets.-The principles for calculating cost of production and breakeven cost.-And an overview of how the UNL Agricultural Budget Calculator (ABC) can assist you in creating enterprise budgets for your operation and the features that this program provides to be used in decision making.
With Shannon Sand, Extension Educator and Agricultural Economist, UNL.Join us for a session focusing on strategies to safeguard you and your family’s farm/ranch financial well-being. We’ll cover several topics including: creating an emergency fund, planning for retirement with Social Security and tax-advantaged accounts like IRAs and Roth IRAs, and achieving short-term goals such as vacations or home renovations. Learn about education savings options, like 529 plans, to prepare for your children's future. Whether you’re looking to build stability or plan for long-term goals, this webinar provides essential steps to secure your financial future.
With Elliott Dennis, Associate Professor, Agricultural Economics, UNL.Inflation has caused food prices to rise due to factors like increased feed costs and supply chain disruptions, which could make this Thanksgiving more expensive for many households. In this webinar, we'll describe how inflation is calculated, break down the key drivers behind these price hikes, and offer practical tips for budgeting this holiday season. Whether you're a home cook or a business owner, you'll learn how to stretch your dollar while maintaining your favorite traditions.
With Jim Jansen, Extension Educator and Agricultural Economist, UNL.Join agricultural economist Jim Jansen as he presents current trends in farmland values, cash rental rates, and lease arrangements across the state in 2025. Discussion of cash rent rates includes dryland and irrigated cropland along with grazing land rental rates for northeast Nebraska. Insight into lease arrangements outlines major pitfalls in land contracts and proper methods to overcome these challenges. The presentation highlights real estate trends and economic indicators to give attendees the insight necessary for making informed land management decisions.
With Aaron Berger, Livestock Systems Extension Educator, UNLLearn strategies to best calculate economic unit cost of production for cow-calf enterprise while understanding what the big three categories of cost are and five ways to reduce unit cost of production.
With Anastasia Meyer, Extension Educator and Agricultural Economist, UNL; and Glennis McClure, Extension Educator and Farm and Ranch Management AnalystThis presentation is designed to help farm families understand how to calculate and incorporate their living expenses into the cost of production while managing income decline. It provides actionable steps to create a realistic and sustainable budget that balances both farm operations and family needs.
With: Brad Lubben, Associate Professor and Extension Policy Specialist, University of Nebraska-Lincoln; and Alejandro Plastina, Associate Professor of Agricultural Finance and Director of the Rural and Farm Finance Policy Analysis Center, University of Missouri.Nebraska’s net farm income is expected to fall in 2024 after setting a record in 2023 at more than $9 billion. The projected decline may not be surprising given the drop in most commodity prices other than cattle leading to lower revenues against input costs that remain near record high levels. The record high in 2023 was more surprising given previous projections for more modest results. Greater than expected changes in cattle prices helped drive receipts higher, but the number for 2023 was also a result of periodic revisions to official USDA estimates given new data from the 2022 Ag Census that was used to reconcile previous estimates and also confirmed the growth of the poultry industry in the state over the past 5 years. Join us for an analysis of the latest farm income situation and the outlook for the rest of 2024 and beyond given recent price and cost changes that impact the financial picture for ag producers.Presented by the University of Nebraska-Lincoln’s Center for Agricultural Profitability and the University of Missouri’s Rural and Farm Finance Center. The report is expected to be published by Oct. 12 at https://cap.unl.edu/farm-income.
With Elliott Dennis, Associate Professor, Agricultural Economics, University of Nebraska-Lincoln; and Gary Sullivan, Associate Professor, Meat Science, University of Nebraska-Lincoln.Join us for an informative webinar designed for consumers interested in purchasing meat directly from local producers. We'll cover everything you need to know, from understanding meat pricing and common labeling terms to estimating how much meat you'll receive when buying in bulk. Whether you're new to buying local meat or just looking for more guidance, this webinar will provide practical insights to help you make informed decisions. Don’t miss this chance to support local farms and fill your freezer with quality, farm-fresh meat!
With: Jay Parsons, Professor and Director, Center for Agricultural Profitability.With coverage on over eight million acres in Nebraska, Pasture, Rangeland, Forage (PRF) insurance has become a part of doing business for many livestock producers in Nebraska. The signup deadline for 2025 PRF insurance coverage is December 1. In this webinar, we will discuss several PRF coverage strategies, associated implications, and historical performance of PRF using examples for Nebraska grids. An overview of the PRF insurance product and performance will be provided to help producers decide if and how they may want to incorporate PRF insurance into their risk management plans.
With Dave Aiken, Professor and Ag Law/Water Law SpecialistSeveral ballot issues will be on the November 2024 election ballot, including two abortion initiatives, two medical marijuana initiatives, state funding for private school scholarships, and a paid sick leave initiative. These ballot issues will be discussed by Dave Aiken, Water Law & Agricultural Law Specialist.
With Elliott Dennis, Associate Professor, Agricultural Economics, University of Nebraska-Lincoln; and Gary Sullivan, Associate Professor, Meat Science, University of Nebraska-Lincoln.Join us for an informative webinar designed for consumers interested in purchasing meat directly from local producers. We'll cover everything you need to know, from understanding meat pricing and common labeling terms to estimating how much meat you'll receive when buying in bulk. Whether you're new to buying local meat or just looking for more guidance, this webinar will provide practical insights to help you make informed decisions. Don’t miss this chance to support local farms and fill your freezer with quality, farm-fresh meat!
With: Shannon Sand, Extension Agricultural Economist, UNL; Matt Stockton, Professor of Agricultural Economics, UNL; and Randy Saner, Livestock Systems Extension Educator, UNL.For the last several years, the University of Nebraska-Lincoln's Extension Beef Economics team has created a short document that forecasts the expected value of replacement heifers for Nebraska producers. These forecasts are intended to be used as a guide in what cow replacement costs might be, given market volatility, futures expectations, costs, etc. and reflect what might happen over the life of purchased animals.Forecasts such as this one are intended to help individuals create a reference point for their operation and expectations of potential future events and to arrive at what a reasonable value might be for a heifer/cow purchased or retained for replacement given their situation.
On this episode, Glennis McClure, an Extension Educator and Farm and Ranch Management Analyst at the University of Nebraska-Lincoln, discusses her article, “Determining a Fair Rent for Farm Buildings,” which outlines the key factors involved in establishing a fair and equitable rental agreement for farm buildings. From calculating fixed and variable costs to considering depreciation and local market conditions, determining rent for these valuable assets is a nuanced process that requires careful evaluation. We'll discuss how property owners can make informed decisions and why understanding both the owner’s and the renter’s perspectives is crucial in setting fair rent.
With Tina Barrett, Director, Nebraska Farm Business, Inc.; and Glennis McClure, Extension Educator and Farm and Ranch Management Analyst, UNL.Nebraska Farm Business, Inc., Director Tina Barrett will cover tax considerations that farmers and ranchers should be thinking about this year as we get closer to closing out another year. Topics covered will include crop insurance, deferral options for livestock sales, changes to the State of Nebraska Property Tax Credit, the pass-through entity tax and more.
With Aaron Berger, Livestock Systems Educator, Nebraska ExtensionFall is the time of year when cow-calf share or cash leasing agreements are often initiated or renegotiated. Understanding the value of what the cow owner and the person who cares for the cows provides in the production of weaned calves is critical to establishing a cow-calf share or cash lease agreement that is equitable. The advantages and disadvantages of both a cash lease and a cow-calf share agreement will be discussed. Common questions and key things that need to be talked about will be reviewed.
On this episode, we're joined by Dr. Brad Lubben, agricultural policy specialist at the University of Nebraska-Lincoln. The major party conventions are over and election season is in full swing, bringing speculation about what a new congress and administration could mean for agriculture policy. In his latest Policy Report column for Nebraska Farmer magazine, Dr. Brad Lubben, extension ag policy specialist with the University of Nebraska of Nebraska-Lincoln, explores some of the questions facing agriculture as Americans prepare to head to the ballot box in November.
Looking ahead from now in the late summer of 2024, the agricultural landscape faces a mix of challenges and uncertainties. Lower commodity prices, rising production costs, and tighter margins are creating a difficult environment for producers across the country. The financial pressure is reminiscent of the hurdles faced by the ag sector a decade ago, but today’s high-interest rate climate adds another layer of complexity.That’s according to Dr. Brad Lubben, associate professor and extension policy specialist here at the University of Nebraska-Lincoln. He’s joins the podcast to explore some of these risks facing producer and to discuss some tools and strategies available to help navigate these challenges.
With Anastasia Meyer, Agricultural Economist, UNL Center for Agricultural Profitability.Managing family members on the farm involves clearly defining roles and responsibilities, establishing effective communication strategies, and creating a fair decision-making process. Financial management, succession planning, and balancing family life with business needs are essential for long-term success. Addressing legal considerations, providing opportunities for training, and setting a shared vision help align family goals. Finally, proactive conflict resolution is crucial to maintaining both business operations and healthy family relationship
Farms and Ranches are unique entities where personal and professional lives intertwine. Successfully navigating family-business relations requires a delicate balance, including things like open communication, boundary setting, support and succession planning to name a few. In essence a successful family/ranch combines the strength of family relationships with the discipline of a well-managed business. This webinar focuses on communicating with families involved in the business as well as those outside of the business.
With: Jim Jansen and Anastasia Meyer, agricultural economists, UNLOffered since 2019, the quarterly webinars address common management issues for Nebraska landowners, agricultural operators and related stakeholders interested in the latest insight on real estate trends, managing farm land and solutions for addressing challenges in the upcoming growing season.The August webinar will cover 2024 Nebraska Farm Real Estate Survey and Report Estimates, including land values and cash rental rates, as well as a special feature report on cover crops and farmland leases. A segment on landlord and tenant communication will discuss reporting crop progress on leased land as well as terminating verbal leases ahead of the approaching deadline in Nebraska. The webinar will conclude with "Ask an Expert" section that offers viewers the change to have their questions answered directly.
Allan Vyhnalek, Nebraska Extension Educator Emeritus, shares valuable insights on pasture management issues and pasture leasing. Though it does not cover every possible situation, it offers a starting point to help landlords and tenants navigate challenges effectively. Some of the topics Vyhnalek covers in this video are listed below. Pasture Lease ManagementVyhnalek emphasizes the importance of discussing potential challenges such as fire, drought, and hail with the landlord before entering a lease. He encourages open communication to ensure both parties are prepared for unexpected situations.FencingVyhnalek explains that fencing is generally assumed to be in good condition at the start of a pasture lease. The tenant is then responsible for maintaining the fence, while the landlord typically provides materials like posts and wire. He also touches on changes to the Nebraska fence law, which now requires disputes to be settled in court rather than with township trustees.Reed and Tree ManagementTenants are usually responsible for controlling noxious weeds, while landlords handle tree control. Vyhnalek advises getting ahead of tree growth, as controlling smaller trees is both easier and more cost-effective. He also mentions that there are resources available on how to handle various tree species, such as Eastern Red Cedars.Fertilizer UseVyhnalek notes that fertilizer is typically discussed in Eastern Nebraska, and it's usually the tenant's expense. The timing of fertilizer application may vary depending on whether the pasture is cool or warm season. He recommends checking with local experts for proper timing in your area.Additional resource: Fertilizing Pasture: Is It Worth It in Today's Economic Conditions? (April 27, 2023 webinar recording)For more land and leasing resources, visit cap.unl.edu/land.
Allan Vyhnalek, Nebraska Extension Educator Emeritus, discusses the complexities of managing farm ground, focusing on hunting rights and how they relate to agricultural leasing. Hunting Rights and LeasingHunting rights can differ depending on the type of lease — crop share or cash rent — as well as between crop ground and pastures. Vyhnalek stresses the importance of having a written lease agreement that clearly outlines the provisions regarding hunting rights, as opposed to relying on handshake agreements.For crop ground, hunting rights typically belong to the tenant in a cash rent lease unless the landlord specifically holds them out of the lease. In crop share leases, however, hunting rights belong to the landlord.For pastures, hunting rights generally remain with the landlord, as pasture leases often end before hunting season starts. Exceptions may occur in cases of year-long or 12-month pasture leases, which require negotiation between the landlord and tenant.Subleasing and LiabilityVyhnalek addresses potential complications arising from subleasing hunting rights and charging fees for hunting access. He emphasizes the importance of discussing subleasing possibilities before the lease begins, and that landlords can choose to withhold hunting rights if they have concerns.The Nebraska Recreational Use Act provides liability protection for landowners who allow free hunting access on their land. However, if a landowner charges for access, their liability may increase, necessitating proper insurance coverage. Allan advises consulting with legal and insurance professionals to ensure the right coverage is in place.For more land and leasing resources, visit cap.unl.edu/land.
Allan Vyhnalek, Nebraska Extension Educator Emeritus, shares insights on the effective utilization of manure in crop ground, emphasizing the importance of proper application to improve fertility, soil health, and crop production.Incorporating Manure into the SoilDiscover the advantages of incorporating manure into the soil through methods like knifing in, and learn how manure serves as a valuable source of organic matter, phosphorus, and micronutrients.Potential Concerns When Using ManureExplore potential concerns when using manure, such as risks of over-application, water supply contamination, and the presence of weed seeds.Guiding Manure Application with Soil TestsUnderstand the significance of not applying manure to the same field every year and using soil tests to guide its application for optimal results.Benefits of Manure for Crop and Livestock ProductionAllan concludes by highlighting the benefits of manure for both crop and livestock production, encouraging viewers to reach out with questions to cap@unl.edu or visit the cap website.Improve Crop Yields and Soil HealthEnhance your knowledge on proper manure application techniques and reap the rewards of improved crop yields and soil health.For more land and leasing resources from the University of Nebraska-Lincoln's Center for Ag Profitability, visit https://cap.unl.edu/land.
Allan Vyhnalek, Nebraska Extension Educator Emeritus, discusses crop residue management and how it relates to leases. He shares valuable management tips and advice on handling crop residue in various situations.Types of ResidueVyhnalek explains the different types of residue, including corn residue and soybean residue. Soybean residue has some value for bedding and extending feed for cattle and sheep, but it is low in nutrition. Corn residue, on the other hand, is good for bedding and can be used as a feed source for ruminants, either by grazing or grinding into rations.Grazing corn residue is a great way to utilize crops. Vyhnalek emphasizes the benefits of grazing for both the farmer and the cattle. Grazing corn residue does not cause soil compaction and offers a valuable feed source for cattle. If a tenant sublets the corn residue for grazing, it's important to consider how the lease is set up and whether the landlord should receive compensation.Residue When harvesting corn residue in bales, Vyhnalek advises against being too aggressive with the rake to prevent soil erosion. He also recommends rotating the fields from which corn residue is harvested to avoid depleting organic matter and micronutrients in the soil.Lease ConsiderationsWhether a landlord should receive compensation for crop residue depends on the type of lease (cash rent or crop share). Vyhnalek advises having clear communication and understanding of the lease provisions before the lease starts to avoid confusion and surprises.For more land and leasing resources from the University of Nebraska-Lincoln's Center for Ag Profitability, visit https://cap.unl.edu/land.
This year’s Nebraska Farm Real Estate Market Highlights Survey, recently published by the University of Nebraska-Lincoln, includes a special feature section that takes a closer look at the emerging trends and considerations for cover crops and their implications on lease arrangements. Jim Jansen, an ag economist with UNL and co-author of the annual real estate report, delves into these findings and explores the motivations and benefits of cover crops for landowners and operators across the state.
Anastasia Meyer, an agricultural economist with the Center for Agricultural Profitability, discusses her new article on estate planning, which focuses on stepped-up tax basis and its role in estate planning. She talks about how this adjustment can significantly reduce capital gains taxes for heirs and explores its implications for the transfer of farmland and other assets to the next generation.
This episode dives more into decision-making in agriculture, focusing on a powerful tool that can help farmers navigate the complexities and uncertainties they face. Jay Parsons, a professor in Nebraska’s Department of Agricultural Economics and Director of the Center for Agricultural Profiability, joins to discuss his article "Branching Out: Harnessing the Power of Decision Trees." It is co-authored with John Hewlett at the University of Wyoming and Jeff Tranel at Colorado State University, and first published in the July 2024 edition of RightRisk News, which you can find at rightrisk.org. The article delves into how decision trees can aid agricultural producers in making more informed choices amidst risk and uncertainty.
With Alfredo DiCostanzo, Beef Systems Extension Educator, Nebraska ExtensionThis webinar aims to increase the proficiency of cattle ranch, grow yard or feedlot owners, managers or employees in veterinary medicine and equipment identification and utilization. We will deepen the understanding of basic veterinary applications of drugs, vaccines, growth-promotion implants, feed additives, supportive therapy and veterinary equipment use so that each participants’ confidence when conversing with their veterinarian, reviewing health directives, or procuring veterinary medicines and drugs is increased.Presented by Nebraska Women in Agriculture.
With Elliott Dennis, Assistant Professor and Livestock Economist, University of Nebraska-Lincoln; and Jay Parsons, Professor and Farm and Ranch Management Specialist, University of Nebraska-Lincoln.The USDA-RMA recently released a new pilot insurance product relevant for cattle producers in Nebraska, Texas, South Dakota, and Colorado. Its focus is on protecting total weight gain of feeder cattle post-weaning. It is available to be purchased but has a one-time sign-up deadline of January 31st to purchase the insurance product. In this webinar, we review what the product is, how it works, things to consider when choosing coverage levels, and how it fits within the broader portfolio of livestock insurance products publicly and privately available to producers.
With Elliott Dennis, Assistant Professor and Livestock Economist, University of Nebraska-Lincoln; and Jay Parsons, Professor and Farm and Ranch Management Specialist, University of Nebraska-Lincoln.The USDA-RMA recently released a new pilot insurance product relevant for cattle producers in Nebraska, Texas, South Dakota, and Colorado. Its focus is on protecting total weight gain of feeder cattle post-weaning. It is available to be purchased but has a one-time sign-up deadline of January 31st to purchase the insurance product. In this webinar, we review what the product is, how it works, things to consider when choosing coverage levels, and how it fits within the broader portfolio of livestock insurance products publicly and privately available to producers.
With Andrew Little, Assistant Professor of Landscape Ecology and Habitat Management, UNL; and John Westra, Professor of Agricultural Economics, UNL.During the past 50+ years, Nebraska and other midwestern states have experienced a dramatic conversion of intact grasslands and other non-crop vegetation to row crop production to feed and fuel the growing world. While the intensification of agriculture has led to increased production levels, there have also been negative effects to the ecosystem such as soil loss, water quality issues, and loss of wildlife biodiversity. To ensure we can adequately feed and fuel the growing world while ensuring the sustainability of our natural resources for future generations, we must have honest conversations about ways to “find the balance” between production agriculture and natural resource conservation. During this webinar, Drs. Westra and Little will provide a history of conservation in agricultural landscapes and discuss innovative precision conservation approaches to help farmers and ranchers in Nebraska and beyond “find the balance” between production agriculture and natural resource conservation.Dr. Andrew Little serves as the Director of the Applied Wildlife Ecology and Spatial Movement (AWESM) Lab. Andy is a wildlife spatial ecologist focused on creating innovative solutions to the growing wildlife conservation and management needs in multi-functional landscapes where there are competing interests for agricultural production, wildlife conservation, and ecosystem services.Dr. John Westra serves as Director of the Panhandle Research, Extension and Education Center in Scottsbluff. Prior to joining UNL, Westra was the J. Nelson Fairbanks Professor at Louisiana State University (LSU) and served as faculty member for over 15 years at LSU’s Department of Agricultural Economics and Agribusiness. His own research has focused on production, natural resource and environmental economics relevant to the agricultural sector.
With: Elliott Dennis, Assistant Professor, Agricultural Economics, UNLUSDA-RMA recently released a new federally subsidized insurance product called Weaned Calf Risk Protection (WCRP). In a previous webinar through the Center for Agricultural Profitability (CAP) we reviewed how the product works, reporting requirements, and indemnity payouts. On January 15th the USDA-RMA will release the projected prices for 2024 and premium rates by county for Nebraska, Colorado, South Dakota, and Texas. This webinar will focus on reviewing these rates, potential strategies consider, and trade-offs between different USDA-RMA insurance products based on the chosen strategy.
With: Dillon Breinig, Production and Compliance Programs Specialist, Nebraska USDA Farm Service Agency; and Brad Lubben, Extension Policy Specialist from UNL.The 2018 Farm Bill was extended for another year after it was set to expire in 2023, and ag producers have another Agriculture Risk Coverage (ARC) versus Price Loss Coverage (PLC) program decision in 2024. Changing economic conditions, price projections, and underlying support levels for both ARC and PLC in 2024 mean that producers will want to give careful thought to another ARC v. PLC enrollment decision at the USDA Farm Service Agency. This webinar will provide an update on farm program details and decisions for 2024 and discuss the prospects of further farm bill development in the coming year.Breining will discuss farm program decisions for 2024 under the Agriculture Risk Coverage and Price Loss Coverage (ARC/PLC) commodity program safety net. Lubben will discuss the economics of the ARC v. PLC decision for 2024 and the broader farm bill issues and prospects still ahead.
From beef to dairy to pork…being a livestock producer comes with inherently unique and difficult challenges, and you want to make sure you know what options are available to best protect your operation. Buying a livestock insurance policy is one risk management option. Producers should always carefully consider how a policy will work in conjunction with their other risk management strategies to insure the best possible outcomes.To help livestock producers know what insurance resources are out there and answer any questions, RMA is hosting a series of workshops for producers to learn about updates and improvements to several livestock risk management products. The improvements and expansions are based on feedback from America’s livestock producers.Topics for this two-hour RMA Livestock Roadshow webinar include:Annual ForageDairy Revenue ProtectionLivestock Gross MarginLivestock Risk ProtectionPasture, Rangeland and ForageWeaned Calf Risk Protectionhttps://cap.unl.edu
With: Jessica Groskopf, Agricultural Economist and Extension Educator, UNL; Cory Walters, Professor, Agricultural Economics, UNL; and Doug Nelson, Certified Financial Planner, Adjunct Faculty (Child, Youth and Family Studies), UNL.According to USDA, only 40% of farm households participate in some type of retirement account. For self-employed farmers and ranchers without full-time employees, the opportunity to invest in a One-Participant 401(k) plan is a way to (1) save money for retirement, (2) reduce taxable income, and (3) provide the potential option to borrow from the plan.
With: F. John Hay, Extension Educator — Energy, UNL Department of Biological Systems Engineering, and Rick Stowell, Professor and Animal Environmental Engineer, UNL Department of Animal Science.Farm electricity costs are large annual cost. Saving on electricity many times goes beyond energy efficiency or reduced energy use. This webinar will explore how farms are charged for electricity and ways to identify and possibly slash costs.
With: F. John Hay, Extension Educator — Energy, UNL Department of Biological Systems Engineering, and Rick Stowell, Professor and Animal Environmental Engineer, UNL Department of Animal Science.Farm electricity costs are large annual cost. Saving on electricity many times goes beyond energy efficiency or reduced energy use. This webinar will explore how farms are charged for electricity and ways to identify and possibly slash costs.
With: Jim Jansen, Agricultural Economist, UNL; and Anastasia Meyer, Agricultural Economist, UNLOffered since 2019, the quarterly webinars address common management issues for Nebraska landowners, agricultural operators and related stakeholders interested in the latest insight on trends in real estate, managing agricultural land and solutions for addressing challenges in the upcoming growing season.The February webinar will cover recent trends in Nebraska cash rental rates for 2023-2024, calculating cash rents to reflect market prices or farm yields, updating agricultural leases for the 2024 season, considerations for landlords and tenants entering the new growing season, and more.https://cap.unl.edu/landmanagement
With: Randy Saner, Livestock Systems Extension Educator; Shannon Sand, Agricultural Profitability Extension Educator; and Dr. Matt Stockton, Agricultural Economist.Discover the key to strategic bull selection to optimize the financial health of your cattle operation. Learn how to leverage the Bull Value Cow-Q-Lator tool from the University of Nebraska-Lincoln’s Beef Economics Team to compare potential bull purchases against your current stock. We'll delve into understanding and inputting critical variables such as feed costs, interest rates, and expected progeny differences (EPDs), ensuring you can make data-driven decisions that align with your operational goals.This webinar will also provide insights into calculating the true economic impact of bull investments on your herd, guiding you through scenarios to maximize your return on investment.Find the free tool online at https://cap.unl.edu/livestock/tools
With: Ken Harrison, Crop Insurance Expert, and Cory Walters, Associate Professor, UNL Agricultural Economics.In this webinar, we will discuss projected prices for the upcoming crop year, the importance of projected prices in managing risk exposure, different insurance contract options, and what different contract options can and cannot do to manage 2024 risk.Ken Harrison is a lifelong participant in the crop insurance industry. Beginning as a farm kid in HS, a crop insurance agent, moving into AIP 5 state territory management, then to Kansas City for 40 years working in crop insurance program development and evaluation. During his tenure at RMA he worked on a national level and RMA key personnel in the development of many insurance tools. Developed the first revenue policy, county yield policy, trees, Identity preserved crops and many others.
A common statement in agriculture is that farmers are land-rich and cash-poor. Innovation has continued and will continue to challenge longstanding thought processes in agriculture. In this webinar, we will visit with a newly formed company, FRACTAL (https://fractal.ag) about how they are innovating the way farmers access the equity in land. Equity farmers can then use to achieve farm goals. Please join us for a robust conversation about what FRACTAL is bringing to the farmer's table.
The latest agricultural land management and leasing considerations for 2024 will be covered during two virtual landlord/tenant cash rent workshops hosted by the Center for Agricultural Profitability at the University of Nebraska-Lincoln on March 27 and 28.The workshops, part of the center’s “So You’ve Inherited a Farm … Now What?” series, will cover Nebraska land industry topics for farms and ranches. Those include evaluating current trends in land values and cash rents, strategies for successful land transitions, lease provisions, legal considerations and managing communication and expectations among family members. Creating and adjusting estate plans will also be covered.The presentations will be led by Jim Jansen and Anastasia Meyer, both extension agricultural economists with the Center for Agricultural Profitability.More: https://cap.unl.edu/land24/handouts
With: Anastasia Meyer, Extension Agricultural Economist, UNL Center for Agricultural Profitability; and Aaron Berger, Livestock Systems Educator, Nebraska Extension.Soon it will be time to turn cattle out to pasture therefore it is a great time to evaluate your pasture lease. This webinar will cover the lease provisions that you need to have in your pasture lease as well as information about beef cow share agreements.
The latest agricultural land management and leasing considerations for 2024 will be covered during two virtual landlord/tenant cash rent workshops hosted by the Center for Agricultural Profitability at the University of Nebraska-Lincoln on March 27 and 28.The workshops, part of the center’s “So You’ve Inherited a Farm … Now What?” series, will cover Nebraska land industry topics for farms and ranches. Those include evaluating current trends in land values and cash rents, strategies for successful land transitions, lease provisions, legal considerations and managing communication and expectations among family members. Creating and adjusting estate plans will also be covered.The presentations will be led by Jim Jansen and Anastasia Meyer, both extension agricultural economists with the Center for Agricultural Profitability.More: https://cap.unl.edu/land24/handouts
With Dave Aiken, Agricultural Law Specialist, University of Nebraska-LincolnIn early March 2024, the Nebraska Department of Environment & Energy submitted the Nebraska Priority Climate Action Plan to the US EPA. The plan identifies agriculture as the largest source of Nebraska greenhouse gas emissions, with electricity generation the second largest source. In this webinar, UNL ag law specialist Dave Aiken will break down the Nebraska climate action plan, focusing on what the plan proposes to do to reduce agricultural climate pollution emissions in Nebraska.
With: Brad Lubben, Associate Professor and Extension Policy Specialist, University of Nebraska-Lincoln; and Scott Brown, Associate Professor and Interim Director of the Rural and Farm Finance Policy Analysis Center, University of Missouri.Nebraska’s net farm income is expected to fall to $6 billion in 2024 and average $6.3 billion across the next decade. This comes after Nebraska farm income rebounded in 2023 compared to 2022, coming in at a projected $7.2 billion. Crop production recovered but prices fell in 2023 and appear to be trending toward longer-run averages. Livestock receipts were up on the strength of the beef prices but may be topping out as cattle inventory begins to rebuild and prices soften. Production expenses have grown substantially to record levels in 2023 and look to remain relatively high in the coming years.Join us for an analysis of the latest farm income situation and the outlook for 2024, which comes with expectations of lower crop prices and reduced livestock receipts as cattle marketings bottom out, all while production expenses remain sticky just a little below the record levels of 2023.Presented by the University of Nebraska-Lincoln’s Center for Agricultural Profitability and the University of Missouri’s Rural and Farm Finance Center. Read the report here: https://cap.unl.edu/farm-income.
With: Shannon Sand, Extension Agricultural Economist, UNL Center for Agricultural ProfitabilityFarm and ranch employee intake and onboarding is important as it sets the tone of the relationship between the manager(s) and the worker(s). Whether they’re related or not, onboarding new employees is important as it allows them the opportunity to get an overview of the operation, learn about employment policies, introduce them to other employees, suppliers, etc., and job duties. Doing these things are key to helping create an understanding of duties and responsibilities in regard to the job, as well as foster open communication with employees and help with potential employee retention.
With: Mary Drewnoski, Extension Beef Systems Specialist, UNL; Jay Parsons, Extension Farm and Ranch Management Specialist, UNL; and Daren Redfearn, Extension Crop Residue Specialist, UNL.With tight row crop margins and increased expenses, many are wondering about incorporating annual forage systems into their crop rotations. This webinar will focus on the economics of that decision delving into the value annual forages can provide as a feed resource and the positives of diversification.More information: https://cap.unl.edu/forage
With: Daren Redfearn, Extension Crop Residue Specialist, UNL; and Jay Parsons, Extension Farm and Ranch Management Specialist, UNL.With tight row crop margins and increased expenses, some producers are wondering if this might be the time to incorporate a perennial forage into their cropping system. This webinar will focus on the economics of perennial forage crops versus row crops. From a risk management standpoint, what are the benefits? How do the two measure up with one another?Find more forage resources at https://cap.unl.edu/forage
The latest trends in 2024 Nebraska cash rental rates and land values will be covered during the next Land Management Quarterly webinar, hosted by the University of Nebraska-Lincoln’s Center for Agricultural Profitability, at noon on May 20.Offered since 2019, the quarterly webinars address common management issues for Nebraska landowners, agricultural operators and related stakeholders interested in the latest insight on real estate trends, managing farm land and solutions for addressing challenges in the upcoming growing season.The May webinar will examine the latest average cash rental rates in the state, as reported in the recently released Nebraska Farm Real Estate Report, and offer insight on adjusting rental rates considering current commodity prices this year. It will also cover best practices for communication between landlords, tenants and family members and offer advice on short- and long-term decision-making for agricultural land.More at https://cap.unl.edu/landmanagement.
The first in a series of webinars presented by the Nebraska Women in Agriculture program that features speakers from the 2024 Nebraska Women in Agriculture Conference, with Lisa Kaslon, Professional Development Coordinator with Nebraska Extension.Embark on a transformative journey to enhance your communication skills with a session designed for those seeking to communicate more effectively. In today's dynamic and interconnected world, the ability to express yourself clearly, listen actively, and navigate diverse communication styles is a key component of personal and professional success. This session is dedicated to empowering you with the tools and insights needed to thrive in personal and professional interactions. Join us and unlock the potential within yourself to communicate confidently, connect authentically, and succeed in every facet of your life.
With: Tina Barrett, Director, Nebraska Farm Bureau, Inc.Tina Barrett will review the most recent data collected by Nebraska Farm Business, Inc., from Nebraska farms and ranches including income, ratios and family living data. Tina will have lots of information from the past ten years and will interpret what that may mean for 2024. You can take this information and apply it to your farm or ranch by benchmarking the data to your own operation.
With Dave Aiken, Professor, Agricultural Law and Water Law Specialist, University of Nebraska-Lincoln.Several states are adopting new laws restricting foreign adversaries from purchasing land near U.S. military installations, a move aimed at bolstering national security. Nebraska just enacted two such laws during the 2024 legislative session.This webinar will provide an analysis of these new state laws and their implications. It will also explore potential legislative actions at the federal level regarding this issue.
The second in a series of webinars presented by the Nebraska Women in Agriculture program that features speakers from the 2024 Nebraska Women in Agriculture Conference, with Samantha Smith, Program Administrator with the Nebraska Department of Agriculture.The beginning farmer tax credit (NextGen) is a program offered to producers in the state who rent an agricultural asset to an eligible beginning farmer/rancher. The farm mediation program (Negotiations) is certified under USDA FSA and grants us the ability to mediate agricultural issues (debt/neighbor issues/family succession/USDA program adverse decisions) at a low cost. Attendees will learn more about these programs.More on the Nebraska Women in Agriculture Program: https://wia.unl.edu.
With Jay Parsons, Professor and Director, UNL Center for Agricultural Profitability.Many producers are planting annual forages on cropland for use as livestock feed. Insurance for annual forages is available in the form of a rainfall index product much like the popular Pasture, Rangeland, Forage (PRF) insurance available for perennial forages.The Annual Forage Insurance Program (AFIP) is available in all counties of Nebraska, Colorado, Kansas, New Mexico, North Dakota, Oklahoma, South Dakota, and Texas. Use of the program continues to grow with acres insured with AFIP in Nebraska more than doubling between the 2022 and 2023 crop years. Several changes to the AFIP took effect last year. The current sign-up period for Annual Forage insurance ends July 15 for annual forages planted from August 1, 2024 through July 31, 2025. We will discuss these changes and tips for how to integrate Annual Forage insurance coverage into your program.
With Jessica Groskopf, Extension Educator and Agricultural Economist, and Anastasia Meyer, Extension Instructor and Agricultural Economist.This webinar will discuss effective strategies for conducting fruitful meetings for farm and ranch businesses. This webinar will review types of meetings, meeting ground rules, decision-making strategies, and more. Gain insights and practical tips to enhance communication and productivity in your family-run operation.
With Glennis McClure, Farm and Ranch Management Analyst, UNL Center for Agricultural ProfitabilityThis webinar provides a summary of the newly released 2024 Nebraska Farm Custom Rates Report, with information on how the data might be applied.A survey of agricultural custom operators is conducted in Nebraska every two years. A total of 159 survey responses were received in 2022 with information reflecting the current rates charged by custom operators for machine hire services and other work they provide for neighboring farms and ranches or as part of a business enterprise that covers a broader area. Survey participants identified by Nebraska Extension personnel, or in some cases, self-identified custom operators, received a paper survey or a web link to complete the custom rates survey online.Find the report at cap.unl.edu/customrates.
This webinar will discuss what is in our drinking water, highlight how it can impact the health of a household, and arm the audience with things they can do to protect themselves and their family. The webinar is presented by Nebraska Women in Agriculture as part of a series of webinars featuring speakers from the 2024 Nebraska Women in Agriculture conference. Find out more at https://wia.unl.edu.
With: Aaron Berger, Livestock Systems Educator, Nebraska Extension; and Jay Parsons, Professor and Director, UNL Center for Agricultural Profitability.With cattle markets at all-time highs, many producers are considering adding value to their operations by increasing pounds sold. High prices bring not only marketing and production opportunities but also higher risk. In this webinar, Nebraska Extension Livestock Educator Aaron Burger and Center for Agricultural Profitability Director Jay Parsons discuss price protection opportunities for cow-calf, stocker, and yearling producers using the Livestock Risk Protection insurance tool available from USDA. The pair will share several examples and discuss key points producers should consider as they make these important decisions.
With Jessica Groskopf, Extension Educator and Agricultural Economist, and Anastasia Meyer, Extension Instructor and Agricultural Economist.The termination deadline for verbal or “handshake” farmland leases in Nebraska is September 1. This webinar will help you
The Center for Ag Profitability build's on strengths present in the university’s Department of Agricultural Economics through collaboration with other research and education units within IANR and the University of Nebraska system. It aims to serve agricultural producers, agribusiness professionals and the economy in Nebraska and beyond.
The center focuses concerted effort among social science, biological and engineering disciplines to provide the research and educational programs required to keep Nebraska’s farmers and ranchers financially healthy.
Access CAP's decision tools, webinars, articles, podcasts and more at https://cap.unl.edu.
With: Elliott Dennis, Assistant Professor of Livestock Economics; Eric Thompson, Karl H. Nelson Associate Professor of Economics and Director, Bureau of Business Research; and Ellie Foral, undergraduate research student — all with the University of Nebraska-Lincoln.
Nebraska has significantly expanded its annual corn and soybean production over the last decade, creating an opportunity to expand value-added agricultural production across the state. In particular, opportunities are potentially available to expand livestock production and processing, which will have a subsequent economic impact on rural economies. One opportunity is to significantly expand the dairy cattle industry in the state, by bringing in a cluster of dairies in conjunction with a type of dairy processor, such as fluid milk cheese, butter, or yogurt plant.
The associated leap in production would be difficult to achieve but has the potential to significantly expand employment opportunities in Nebraska’s small metropolitan and micropolitan areas, as well as rural regions. We will review findings from a recent report that considered the potential economic impact from developing a new cluster of dairies in conjunction with differing sizes of either fluid milk, butter, cheese, or yogurt plant located in either the Grand Island metropolitan area, Norfolk micropolitan area, and the Nebraska portion of the Sioux City metropolitan area.
With: Matt Stockton, Agricultural Economics Specialist; Chuck Burr, Water and Cropping Systems Educator; Julie Peterson, Entomology Specialist; and Sarah Sivits, Cropping Systems Educator (Nebraska Extension)
One of the key factors in increasing profits and maintaining productivity is to make great in season input cost choices. Cost minimization without concern for productivity, and productivity without cost control, can lead to either too little production or higher costs resulting in less-than-optimal profits. Making decisions at the margin is one way to make profit-based choices.