Nebraska FARMcast - Farm and Ranch Management: Recent Episodes
Center for Agricultural Profitability
Produced by the Center for Agricultural Profitability in the Department of Agricultural Economics at the University of Nebraska-Lincoln, Nebraska FARMcast offers essential farm and ranch management information for agricultural decision-makers.
Find more resources at https://cap.unl.edu.
Expanding acres, adding livestock, or investing in bigger equipment can spread out costs and boost efficiency — but growth also brings new challenges. In this episode, Tim Meyer, associate professor of practice in agricultural economics at the University of Nebraska–Lincoln, joins Nebraska FARMcast to discuss why bigger isn’t always better for family farms. He explains how expansion can stretch labor, complicate management, and add hidden costs that cut into profitability. Meyer also shares what signs producers can watch for that growth may be working against them, and how to strike the right balance between efficiency and sustainability.
More: https://cap.unl.edu/news/diseconomies-scale-family-farm/
When U.S. beef, pork, and poultry are exported, they’re tested to make sure residues from antibiotics, dewormers, or other animal health products stay below certain limits. The catch is that those limits aren’t the same everywhere. What’s considered safe under U.S. rules might not pass in places like the European Union, Japan, or Mexico.
That mismatch can lead to trade barriers, rejected shipments, and lost market opportunities—even if the product is perfectly fine by U.S. standards. To help us understand what this means for producers, we're joined by Akinbode Okunola, a graduate research assistant and Ph.D. student in Agricultural Economics here at Nebraska. He and his advisor, Dr. Elliott Dennis, recently published an article about how U.S. veterinary drug residue regulations compare with those in major export markets and how that may impact trade.
More: https://cap.unl.edu/news/veterinary-drug-residue-regulations-major-us-export-markets/
Record-high calf prices in 2024 and 2025 have given cow-calf producers a welcome boost, but deciding how to reinvest those earnings can be tricky. Should profits go toward tax savings, new equipment, or strategies that build long-term strength in the operation? Nebraska Extension educators Brock Ortner and Glennis McClure join Nebraska FARMcast to discuss how producers can evaluate investments through an economic lens, manage liquidity, and make decisions that improve efficiency and resilience beyond the current cattle cycle. Brock Ortner is a livestock systems extension educator based in Rushville. Glennis McClure is a farm and ranch management analyst and statewide extension educator.
More: https://cap.unl.edu/news/where-should-i-invest-pre-tax-earnings-record-high-calf-market/
Dr. Brad Lubben, ag policy specialist with the University of Nebraska-Lincoln’s Center for Agricultural Profitability breaks down the massive reconciliation bill – officially the “One Big Beautiful Bill Act” -- signed into law early this month, which brings significant new support for farmers and ranchers. While the headlines have focused on tax changes and cuts to social programs, this sweeping legislation quietly delivered some of the most substantial updates to farm programs in years. From increased safety net protections to enhanced crop insurance and disaster assistance, Brad is here to get us up to speed as he has written about the increased farm support for his latest policy report column for Nebraska Farmer.
More: https://cap.unl.edu/news/whats-big-beautiful-bill-agriculture/
The 2025 Grocery Industry Summit is Aug. 25, 2025, in Kearney. The third annual event brings together grocery store owners, industry leaders, policymakers, and innovators to address some of the biggest challenges — and opportunities — facing grocery businesses across Nebraska and the region.
Hosted the Nebraska Cooperative Development Center here at UNL, and the Nebraska Grocery Industry Association, the summit will focus on everything from next-generation ownership and rural grocery sustainability to cooperative partnerships, local foods, and emerging retail technologies.
Charlotte Narjes, Director of the Nebraska Cooperative Development Center, and Ansley Fellers, Executive Director of the Nebraska Grocery Industry Association, join to share what’s in store for this year’s event and why a strong grocery industry matters for rural communities and the state as a whole.
More: https://cap.unl.edu/news/grocery-industry-summit-returning-kearney-august-21-focus-future-local-stores/
This episodes returns to an important conversation around farm and ranch succession planning—specifically for those who don’t have a family heir lined up to take over the operation. We're joined by Jessica Groskopf, agricultural economist with Nebraska Extension, to walk us through several key steps in this process. In the latest installments of her series on succession without a family heir, Jessica covers how to clarify your goals, build a team of trusted advisors, and put foundational legal documents in place to ensure your wishes are carried out.
Find Groskopf's most recent article in her series on succession planning without a family heir, along with other articles in the series, at https://cap.unl.edu/news/navigating-farm-succession-without-family-heir-everyone-needs-these-documents/
On this episode of Nebraska FARMcast, we’re exploring how a simple phone call sparked a movement to build a new kind of business model in Nebraska — one centered on worker ownership and community care. Cindy Houlden, Cooperative Development Specialist with the Nebraska Cooperative Development Center at Nebraska, joins us to share the story behind the Republican River Valley Homecare Cooperative, a worker-owned business recently incorporated in Arapahoe, Nebraska.
More: https://cap.unl.edu/news/introducing-republican-river-valley-home-care-cooperative/
What happens when there isn’t a family heir to take over the operation? In a new article that’s the first in a series of publications aimed at helping producers navigate succession planning without a family successor, Extension Educator Jessica Groskopf discusses the emotional side of this transition — particularly the ambiguous grief that can come when a family legacy doesn’t continue as expected.
Article: https://cap.unl.edu/news/navigating-farm-succession-without-family-heir-embracing-change-and-coping-loss/
Glennis McClure, Extension Educator and Farm and Ranch Management Analyst with the University of Nebraska–Lincoln's Center for Agricultural Profitability discusses the newly released “2025 Custom Service Rates for Livestock Production in Nebraska.” This report, published by the Center for Agricultural Profitability, provides insight into what livestock producers and custom operators are charging—and paying—for a wide range of services across the state.
McClure discusses what's in the report, how it's compiled, and best practices for using the custom rate data when paying for custom services related to livestock.
Find the report at https://cap.unl.edu/customrates.
The beef industry is facing a mix of optimism and uncertainty — with strong prices giving way to questions about supply, demand, regulation, and long-term sustainability. But as the industry navigates these issues, a group of students at the University of Nebraska–Lincoln is stepping up to study them closely.
On this episode, we’re joined by Professors Brad Lubben and Elliott Dennis, both from the Department of Agricultural Economics here at Nebraska, to talk about the latest Policy Report column in Nebraska Farmer magazine, which not only outlines key challenges in the beef sector but also highlights the work of the Krutsinger Beef Industry Scholars — a unique program developing the next generation of policy-minded leaders in agriculture.
Read more: https://cap.unl.edu/news/beef-scholars-program-addresses-most-important-issues-producers/
The price difference between steers and heifers can be a key indicator of herd expansion or contraction and recent trends indicate that we may be at a turning point. TaraLee Hudson, a graduate researcher in the Department of Agricultural Economics here at Nebraska, and Dr. Elliott Dennis, an associate professor in the Ag Econ department, have published a new article analyzing the factors driving the price difference between steers and heifers. They discuss steer-heifer price difference and insights into herd expansion.
Read more: https://cap.unl.edu/news/steer-heifer-price-difference-implications-herd-expansion
Record-high cattle prices in 2025 have created unique opportunities and challenges for producers looking to maximize their profits. One key factor in cattle marketing is the price slide — when lighter-weight calves tend to command a higher price per pound than heavier calves. Understanding how a price slide works, and how to leverage it, can make a big difference in profitability.
This concept is covered in a new article by TaraLee Hudson, a Graduate Research Assistant in the Department of Agricultural Economics here at Nebraska, and Dr. Elliott Dennis, an Associate Professor in the department, to break down what the price slide means, how it’s shaping cattle markets in 2024, and how producers can use it to make informed marketing decisions.
Read more: https://cap.unl.edu/news/leveraging-price-slide-marketing-opportunity-amid-record-high-prices/
Dr. Cory Walters, associate professor in the Department of Agricultural Economics at UNL, joins to discuss a unique and potentially valuable tool for farm risk management —micro-captive insurance. This concept allows farm operations to manage risk and insurance costs in a more customized way while also presenting financial opportunities. But, as with any financial tool, micro-captives come with complexities, regulations, and risks that must be fully understood before implementation.
More: https://cap.unl.edu/news/strategically-insuring-your-farm-rise-micro-captive-insurance/
Brad Lubben, extension ag policy specialist with the University of Nebraska-Lincoln, joins to discuss his latest Policy Report column for Nebraska Farmer magazine, which highlights the Nebraska Rural Poll. This long-running survey from the University of Nebraska-Lincoln offers a unique look into the thoughts and concerns of rural Nebraskans on issues like community well-being, housing, the economy, trade, and more. He discusses the poll’s significance, its history, and what sets it apart as a valuable resource for policymakers and communities across the state.
Read more: https://cap.unl.edu/news/what-do-rural-nebraskans-care-about/
Nebraska Rural Poll: https://ruralpoll.unl.edu
Transitioning a farm from one generation to the next isn’t just about passing down land and equipment—it’s about balancing experience with innovation, tradition with change, and family relationships with business decisions. Generational differences in farm management can lead to friction, but they also present opportunities for growth when handled with mutual respect and collaboration.
Anastasia Meyer, an agricultural economist with the Center for Agricultural Profitability, joins this episode to discuss her new article exploring the challenges and opportunities that arise when younger farmers introduce new ideas while older generations hold onto time-tested practices.
She covers how farm families can navigate these transitions smoothly, preserve family harmony, and ensure long-term success.
Read more: https://cap.unl.edu/news/balancing-old-wisdom-new-ideas-farm/
On this episode of Nebraska FARMcast, we’re joined by Randy Saner, Nebraska Extension Livestock Systems Educator and Program Leader, to discuss strategies for managing bull costs and maximizing herd profitability. With rising cattle prices, producers face tough decisions about how much to invest in their bulls and how those choices affect their bottom line. Randy’s recent article breaks down the financial impact of bull prices, cost-saving strategies, and tools producers can use to make informed decisions.
Read more: https://cap.unl.edu/news/understanding-cost-bulls-and-how-maximize-your-herds-profitability/
2025 has been designated the “International Year of Cooperatives” by the United Nations, recognizing the vital role that cooperatives play in building stronger economies and communities around the world. Here in Nebraska, cooperatives have long been a cornerstone of rural development, supporting local businesses, agriculture, and essential services. The Nebraska Cooperative Development Center has been at the forefront of fostering cooperative businesses across the state for more than two decades.
On this episode, we’re joined by Cindy Houlden, Cooperative Development Specialist with NCDC, to talk about the significance of the International Year of Cooperatives, how Nebraska’s cooperative movement fits into this global recognition, and what opportunities exist for communities and businesses looking to explore cooperative models.
Read more: https://cap.unl.edu/news/2025-year-cooperatives-building-better-nebraska-and-beyond-houlden-250218/
Brad Lubben, policy specialist with the University of Nebraska-Lincoln, joins to discuss his latest Policy Report column for Nebraska Farmer.
As President Trump begins his new term, his administration has introduced a new initiative—the Department of Government Efficiency, or DOGE—which aims to reshape and reduce the size of the federal government. While DOGE itself isn’t an official agency, it has been a key part of the administration’s messaging on spending cuts. Dr. Lubben’s latest column examines what role DOGE might play in influencing federal agricultural programs, including the Farm Bill, crop insurance, and rural development
Read more: https://cap.unl.edu/news/will-important-recommendations-doge-affect-farmers-and-ranchers-lubben-250213/
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/
Tim Meyer, associate professor of practice in the Department of Agricultural Economics at UNL, joins to discuss his new article for the Ag Econ department’s Cornhusker Economics series that explores the relationship between cash flow, profitability, and solvency in farm management.
He breaks down why those matter, how they interact, and what farmers should consider when making big financial decisions—like buying land or managing debt. We won’t be diving into all the numbers from Tim’s case study, but we will discuss the big-picture takeaways that producers can apply to their own operations.
Read more: https://cap.unl.edu/news/reconciling-paradox-positive-profit-and-negative-cash-flow-meyer-250205/
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 recent land purchases, some are asking questions to learn more about IRS Section 180 and how it may provide tax deductions in the year of purchase. Shannon Sand is an agricultural economist and educator with Nebraska Extension who is based in North Platte. She joins the podcast to break down what exactly Section 180 is, who can potentially benefit from it, and how landowners can work with their tax professionals to utilize it.
Read more: https://cap.unl.edu/news/what-irs-section-180-and-how-does-it-work/
Nebraska Extension Ag Economist Jessica Groskopf discusses what happens to farmland lease agreements when a landlord passes away. With handshake agreements still prevalent in Nebraska, the nuances of ownership transitions can create uncertainty for both landlords and tenants. Groskopf has a new article on our Center for Ag Profitability website, cap.unl.edu, that unpacks these scenarios and helps provide clarity on managing farmland leases effectively.
Read more at https://cap.unl.edu/news/verbal-leases-what-happens-if-someone-dies-groskopf-250115/
When farm and ranch businesses develop a business strategy to achieve specific goals, like profitability, managers often have to account for risks that come from internal and external uncertainties. On this episode, Dr. Jay Parsons, director of the Center for Agricultural Proftiability here at UNL, discusses a new article he has authored as part of the RightRisk News team. It explores how producers can approach calf retention decisions within a framework of strategic risk management, which helps us coonsider factors that influence critical decision-making and strategies for navigating the risks involved.
Read more: https://cap.unl.edu/news/framing-strategic-risk-and-look-calf-retention-decision/
The results of the November elections are setting the stage for substantial shifts in Washington, D.C., particularly in agriculture policy. With new leadership across Congress and the White House, key issues like the overdue farm bill, trade policies, tax reform, and regulatory changes are on the horizon. Today, we’ll discuss what these potential changes could mean for agricultural producers and the broader industry. Dr. Brad Lubben, extension policy specialist at UNL, wrote about these potential changes in his latest Policy Report column for Nebraska Farmer. He joins to discuss.
Read more: https://cap.unl.edu/news/stage-set-monumental-change-ag-policy/
This episode of Nebraska FARMcast takes a special look at emerging trends and the future of the workplace. From the growing demand on the part of employees for workplace flexibility to the importance of skills over degrees to employers, many businesses will face new challenges and opportunities in the coming years. Dr. Cheryl Burkhart-Kriesel, an Extension Specialist with Rural Prosperity Nebraska at UNL, joins to talk about a new article she has published on our center’s site, cap.unl.edu, that was inspired by recent findings from the Harvard Business School on the future of workplace environments.
Read more: https://cap.unl.edu/news/are-you-ready-different-workplace-environment/
With lower commodity prices and tight margins for agricultural producers this year, paying attention for Farm Bill Commodity programs like ARC and PLC will be an important part of a farm risk management plan. On this episode, we're discussing the future of the Farm Bill safety net with Brad Lubben, associate professor and extension policy specialist at the University of Nebraska-Lincoln. In a pair of recent articles for Nebraska Farmer and the Center for Agricultural Profitability, Brad dives into the complexities of federal farm programs, especially as Congress works toward a new Farm Bill. We'll explore the policy decisions and economic factors shaping these critical support systems for producers, and what changes might mean for agriculture in Nebraska and beyond.
Dr. Lubben's articles:
Sizing Up the Farm Bill Safety Net: https://cap.unl.edu/policy-legal/sizing-farm-bill-safety-net
A Look at the Farm Bill Safety Net (via Nebraska Farmer): https://cap.unl.edu/policy-legal/look-farm-bill-safety-net
Estate planning is a critical issue for farm and ranch families – but what happens when assets are being divided unequally. It’s a delicate, sometimes uncomfortable conversation, but one that’s important to keeping harmony in the family while looking to the future.
Anastasia Meyer, an extension agricultural economist with the Center for Agricultural Profitability has a new article on communicating estate plans to family when assets are divided unequally. She joins to discuss strategies for how families can handle these sensitive discussions and plan ahead for a smooth transition.
https://cap.unl.edu/succession/how-communicate-your-estate-plan-family-when-dividing-assets-unequally
On October 3, 2024, the Nebraska Cooperative Development Center and Nebraska Grocery Industry Association are hosting the second annual Grocery Industry Summit in Kearney. This event brings together a wide range of stakeholders — from grocers and vendors to policymakers and more — to discuss strategies for navigating these challenges and building stronger, more resilient grocery markets in our state.
Joining on this episode is Ansley Fellers, executive director of the Nebraska Grocery Industry Association, and Charlotte Narjes, director of the Nebraska Cooperative Development Center at the University of Nebraska-Lincoln.
More: https://cap.unl.edu/rural/grocery-industry-summit-address-retail-technology-competition
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.
https://cap.unl.edu
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 joining me to explore some of these risks facing producer and to discuss some tools and strategies available to help navigate these challenges.
More at cap.unl.edu.
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.
More: https://cap.unl.edu/management/decision-trees-branching-out
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.
Read more at https://cap.unl.edu/succession/estate-planning-stepped-tax-basis
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.
Read more: https://cap.unl.edu/land/cover-crop-utilization-implications-cropland-lease-arrangements-2024
A recent Supreme Court ruling overturning the 1984 Chevron doctrine put a stop to the decades-long precedent that federal courts defer to federal agencies for interpreting statutory provisions set by Congress, and the Farm Bill could be one of the first tests of the decision’s impact. Brad Lubben, extension policy specialist and associate professor with the Center for Agricultural Profitability wrote about the ruling and its possible implications in his Policy Report column for Nebraska Farmer Magazine’s August issue. He joins to discuss more on this episode.
Read more: https://cap.unl.edu/policy-legal/what-does-supreme-court-chevron-doctrine-ruling-mean-ag
Jessica Groskopf, an ag economist with Nebraska's Center for Agricultural Profitability and Nebraska Extension, has continued her series of articles that looks at creative ideas for estate and transition planning with a new publication on gifting ownership of the farm or ranch business.
She discusses gifting ownership shares, considerations for ownership transfer, and the importance of planning for both the current and future generations.
Read more at https://cap.unl.edu/succession/ideas-estate-and-transition-planning-gifting-ownershiphttps://cap.unl.edu/succession/ideas-estate-and-transition-planning-gifting-ownership.
The 2024 Nebraska Custom Rates Report, which offers insights for agricultural producers and service providers, is now available through Nebraska Extension and the University of Nebraska-Lincoln’s Center for Agricultural Profitability. The report, published at cap.unl.edu/customrates, compiles survey data from 159 respondents, providing current market rates for 138 different custom operations and services across Nebraska.
This comprehensive resource serves as an essential guide for those offering and seeking custom agricultural services. While the report offers a detailed overview of market trends, custom service providers are encouraged to consider their own operational costs when determining their rates.
Glennis McClure, a farm and ranch management analyst with the Center for Agricultural Profitability, discusses this year's report and how it can be used by custom operators and those who pay for custom work.
More at: https://cap.unl.edu/management/2024-nebraska-custom-rates-what-charge.
The higher interest rates that were established to counter inflation a couple years ago are persisting into 202, continuing to affect agricultural producers. On this episode, Jay Parsons, professor and farm and ranch specialist at the University of Nebraka-Lincoln, discusses how these economic pressures are impacting crop production, machinery purchases, and cattle herd rebuilding efforts. How do these rates stack up historically and what do they mean for producers trying to navigate these financial challenges this year?
Read more at https://cap.unl.edu/finance/what-do-ongoing-high-interest-rates-mean-ag-producers.
The quest in Congress to pass a new farm bill continued on May 23 when the House Agriculture Committee finished their markup on the bill after a long session that saw major amendments proposed by the minority fail, leaving a bill generally resembling the one that was introduced. Dr. Brad Lubben, an agricultural policy specialist with the Center for Agricultural Profitability wrote about how this signifies the “starting line” for the bill’s ultimate passage in his policy report column for Nebraska Farmer. He discusses what this step means and what the road ahead now looks like for the Farm Bill.
Read more at https://cap.unl.edu/policy-legal/farm-bill-just-making-it-across-starting-line.
What's the impact of cover crops on the profitability and sustainability of livestock systems?
Dr. Jay Parsons, a professor and farm and ranch management specialist and director of the University of Nebraska-Lincoln’s Center for Agricultural Profitability, discusses a new USDA Economic Research Service report on the integration of cover crops into livestock operations, highlighting the economic and environmental benefits.
Read more and find the full report at https://cap.unl.edu/livestock/nebraska-researchers-contribute-study-cover-crops-livestock-operations.
The newly published Nebraska Feedlot Labor and Management Survey Report, by Nebraska Extension and Nebraska Cattlemen, looks at data through 2021 and reveals significant changes in labor costs, compensation, and management practices within Nebraska's feedlot industry over the past few years. To discuss the key findings from the survey, including the challenges and trends feedlot operators face in navigating labor costs and industry shifts, is Dr. Elliott Dennis, assistant professor in the Department of Agricultural Economics and Extension Livestock Marketing Specialist at Nebraska, and a co-author of the report.
Find the report at https://cap.unl.edu/feedlotlabor21.
Cindy Houlden, a Cooperative Development Specialist with the Nebraska Cooperative Development Center at the University of Nebraska-Lincoln, joins to discuss g a pressing issue facing rural Nebraska and much of the country – the challenge of aging in place and the innovative solutions being developed to address it. Houlden shares insights from her recent article on the establishment of the Homecare Worker Cooperative Academy and how it's helping communities like Arapahoe find sustainable ways to support their elderly residents.
Read more: https://cap.unl.edu/rural/aging-place-rural-nebraska-homecare-worker-cooperatives
More about the Nebraska Cooperative Development Center: https://ncdc.unl.edu.
Borrowing a loan can be a useful tool for farmers and ranchers, especially to fill in gaps when cash or working capital is short to cover current obligations or to make necessary or planned capital purchases. Before signing for a loan, understand the loan terms and repayment requirements as spelled out in the loan documents.
Jessica Groskopf, an agricultural economist with the Center for Agricultural Profitability, defines and explains important lending terminology and considerations for farmers and ranchers.
More at: https://cap.unl.edu/finance/basics-loans-farmers-and-ranchers
This episode explores how federal policy shapes the market for biofuels, a critical aspect impacting farmers nationwide. Nebraska Extension Policy Specialist Dr. Brad Lubben’s latest Policy Report column for Nebraska Farmer magazine dives into how U.S. policy drives the development of the renewable fuels markets and how the increased use of products like renewable diesel and sustainable aviation fuel might help to propel the ag economy. He joins to discuss.
More at https://cap.unl.edu/forage/how-policy-can-drive-market-biofuels
Jessica Groskopf, a Nebraska Extension agricultural economist, discusses one approach to wealth transfer and estate planning within farming families. Jessica has just published the third article in a series that highlights different tactics for bringing family members into the operation.
This episode focues on the concept of combining gifting with lease agreements as a means of transferring assets between generations while ensuring the viability of the farm or ranch. This not only addresses the complexities of estate planning but also maintains the standard of living for all parties involved.
Find more, including the full series of articles, at https://cap.unl.edu/succession/ideas-estate-and-transition-planning-gift-leaseback
Glennis McClure, an Extension Educator and FARM and Ranch Management Analyst with the University of Nebraska-Lincoln, joins to discuss the intricacies of farm and ranch operations’ financials at the start of the year. She talks about her new article on why traditional tax documents might not tell the full story of a farm's financial health and how accrual adjustments can offer a clearer picture.
Read more: https://cap.unl.edu/finance/net-farm-income-impacts-net-worth-growth
On this episode, we look at a critical decision point for cow-calf producers: whether to retain heifers for herd replacement or to opt for purchasing them. This decision can have implications on the operational goals, finances, and the herd’s genetic future for cow-calf operators. To explore what to consider in this decision-making process, we're joined by TL Meyer, a Livestock Systems Educator with Nebraska Extension, who has just authored a new article on the topic.
Read more at https://cap.unl.edu/livestock/retain-not-retain-heifer-dilemma
We learn about the work of Buy Fresh Buy Local Nebraska to connect Nebraskans to local farms and foods amid their 2024 membership drive. The organization, based at the University of Nebraska-Lincoln, offers members inclusion in their popular local food guide, published annually and distributed across the state. Interim Coordinator Charlotte Narjes joins to discuss.
Read more about the membership drive here or visit the Buy Fresh Buy Local Nebraska website.
Bringing children into the operation is the goal for many farms and ranches, but it can require some creative approaches so that everyone involved can earn a living. Jessica Groskopf, an extension educator and agricultural economist with the Center for Agricultural Profitability, is writing a series of articles for our website, cap.unl.edu, detailing ideas to help this transition process. She joins to discuss her first article in the series, about monetary compensation for family members.
Read more: https://cap.unl.edu/management/paying-family-members-farm-or-ranch
Dave Aiken, professor and extension agricultural law specialist at Nebraska, discusses two bills dealing with alien land ownership restrictions that have been introduced in the 2024 Nebraska legislative session.
https://cap.unl.edu/policy-legal/foreign-land-ownership-bills-introduced-nebraska-legislature-podcast
Applications for cooperative business development mini grants are now being accepted for 2024 by the University of Nebraska-Lincoln’s Nebraska Cooperative Development Center. The mini grants are available to both existing cooperatives and groups who are exploring or developing cooperative business models. The application is open through February 15th. UNL Cooperative Development Specialist Cindy Houlden joins to discuss.
Find out more and apply on the Nebraska Cooperative Development Center's website, https://ncdc.unl.edu.
On this episode, we elve into the crucial realm of strategic planning within the agricultural sector, and establishing the vision and mission for an agribusiness. In an industry buffeted by the winds of economic change, environmental unpredictability, and technological advancements, having a strategic plan can act as a map through the uncharted territories of future market landscapes.
Larry Van Tassell, professor of Agricultural Economics at the University of Nebraska-Lincoln, and Director of the Center for Agricultural Profitability has authored a new article on the importance of strategic planning and we’ll discuss the art of transforming uncertainties into opportunities, the importance of understanding one's mission, and the need for assessing the ever-evolving external environment that shapes your farm's future.
Read more: https://cap.unl.edu/management/importance-strategic-planning-farmers-and-ranchers
Glennis McClure, a Farm and Ranch Management Analyst with Nebraska Extension, discusses her new article on Figuring Field Operation Costs Using the Agricultural Budget Calculator Program. In it, Glennis explores the use of UNL’s Agricultural Budget Calculator (ABC) Program, a tool designed to assist producers and custom operators in calculating machinery field operation and ownership costs. By comparing newer and older equipment, the article provides valuable insights into how these calculations can influence decisions regarding machinery upgrades and their impact on production costs.
Read more: https://cap.unl.edu/abc/machinery
In this episode, we'll continue discussion about the complexities of the farm bill and current state of agricultural policy. After passing an extension of the 2018 farm bill in late 2023, Congress gave itself another year to enact updated legislation, but debate is expected to continue as competing interests show few signs of compromise so far. In his latest monthly policy column for Nebraska Farmer Magazine, UNL Extension Associate Professor and Policy Specialist Brad Lubben looks into these competing interests and ongoing policy debates surrounding the farm bill, and the impact on Nebraska's agricultural community.
Read more: https://cap.unl.edu/policy-legal/new-farm-bill-remains-difficult-goal-2024
Marilyn Schlake, a Rural Prosperity Nebraska Extension Educator at the University of Nebraska-Lincoln, recently authored an insightful article titled "Agriculture and Community Well-Being: A review of three research studies," which sheds light on the dynamic relationship between agricultural producers and rural communities. I’m looking forward to hearing more about the relationship between main street and agriculture in rural communities.
Read more: https://cap.unl.edu/rural/agriculture-and-community-wellbeing-review-three-research-studieshttps://cap.unl.edu/rural/agriculture-and-community-wellbeing-review-three-research-studies
For new and beginning farmers, access to things like land and capital can present challenges on their road to becoming established producers. Amid the economic challenges that come with being a beginning farmer, there are programs and strategies that can offer a leg up to getting on a good path. This was the topic of a recent Nebraska Farmer magazine column by Brad Lubben, an extension associate professor and ag policy specialist here at the University of Nebraska-Lincoln. He’s here to talk more about the realities of starting out in ag today, the looming challenges and some innovative solutions that can be implemented.
Read more at https://www.farmprogress.com/commentary/farm-bill-extension-pushes-off-debate-but-not-farmer-decisionshttps://www.farmprogress.com/commentary/farm-bill-extension-pushes-off-debate-but-not-farmer-decisions
Estate and transition planning often focuses on what happens to the farm or ranch at the death of a key person. However, a good estate and transition plan should also include contingencies for disability. Planning for a disability is not an easy task because the severity and duration of the disability are unknown. Jessica Groskfop, extension educator and agricultural economist with UNL's Center for Agricultural Profitability, offers some key items to have in place to protect you and your operation from disability.
Read more: https://cap.unl.edu/succession/what-happens-your-farm-or-ranch-if-you-become-disabled
Lia Nogueira, Associate Professor of Agricultural Economics at the University of Nebraska-Lincoln, joins this episode to discuss a rent paper about a study, "Economics of Deficit Irrigation Utilizing Soil Moisture Probes in the Western Corn Belt." This research offers a fresh perspective on how technological advancements like soil moisture probes can optimize irrigation strategies, particularly in water-scarce regions like the Western Corn Belt. We discuss the complex interplay between water usage, crop yields, and economic outcomes, unraveling how these factors are reshaping the way we think about sustainable agriculture.
The research sheds light on the challenges faced by modern producers, and explores how data-driven irrigation methods can lead to more informed, efficient, and profitable farming practices.
Read more: https://cap.unl.edu/crops/economics-deficit-irrigation-utilizing-soil-moisture-probeshttps://cap.unl.edu/crops/economics-deficit-irrigation-utilizing-soil-moisture-probes
There are many strategies that cow-calf producers can explore to be more profitable and on this episode, we’ll hear some examples that are based on data from the University of Minnesota’s FINBIN livestock analysis tool. Randy Saner is a Livestock Systems Extension Educator with the University of Nebraska-Lincoln, and he’s taken a dive into the data for a new article on our website, at cap.unl.edu. He’ll share some practices that can help lead to higher gross margins, the strategic moves involving calf transfers to other enterprises, and the role that government payments can play in bolstering farm and ranch income.
Read more at: https://cap.unl.edu/livestock/what-did-higher-profit-cow-calf-producers-do-make-them-more-profitable
With recent land purchases, some are asking questions to learn more about IRS Section 180 and how it may provide tax deductions in the year of purchase. Shannon Sand is an agricultural economist and educator with Nebraska Extension who is based in North Platte. She joins the podcast to break down what exactly Section 180 is, who can potentially benefit from it, and how landowners can work with their tax professionals to utilize it.
Read more:
https://cap.unl.edu/finance/what-irs-section-180-and-how-does-it-work
Cory Walters, associate professor in the Department of Agricultural Economics, recently co-authored an article analyzing how fuel efficiency in tractors has changed since the introduction of EPA emissions standards. The research was led by another co-author, Jerin TeKoste, a recent graduate of the Agricultural Economics Master’s program here at UNL. Dr. Walters discusses key findings from the research and offers his perspectives on how emissions regulations have impacted tractor performance over time and why this is important for farmers making equipment purchase decisions.
Read more:
https://cap.unl.edu/policy-legal/diesel-tractor-fuel-efficiency-and-exhaust-emissions-standards.
Dr. Larry Van Tassell is a professor in the Department of Agricultural Economics at the University of Nebraska-Lincoln and director of UNL's Center for Agricultural Profitability. He discusses his research into the latest data from the USDA's Agricultural Foreign Investment Disclosure Act report about foreign investment in Nebraska agricultural land, exploring key findings, where the foreign owners are from and what this data means for Nebraska farmers, ranchers, and landowners.
Read more at https://cap.unl.edu/policy-legal/how-much-nebraska-ag-land-owned-foreign-entities-0.
The Nebraska Entrepreneurial TaskForce (NetForce) is hosting its sixth annual Nebraska Entrepreneurship Best Practices Summit on Tuesday, November 7th, at the Bosselman Conference Center, at Fonner Park in Grand Island. The one-day event will focus on strategies for building local and regional entrepreneurial ecosystems. Molly Brandt, Innovation and Entrepreneurship 4H educator with Nebraska Extension, discusses what to expect for entrepreneurs of all ages.
Find more about the summit and register at https://www.netforcenebraska.org/aboutebps-801962.html
Foreign entities have been buying U.S. agricultural land for decades, but recent high-profile purchases have shone a spotlight on the practice. Critics argue it threatens our food security and allows foreign powers to exploit our resources. Others might see economic benefits outweighing any risks.
A new article looks at the scope of foreign farmland acquisitions, the countries involved, the incentives driving this investment, and the key pros and cons for American agriculture. It’s been published by Dr. Larry Van Tassell, professor in Agricultural Economics at UNL and director of the Center for Agricultural Profitability.
Read more: https://cap.unl.edu/policy-legal/do-only-americans-own-america-foreign-investment-agricultural-lands-united-states
Cheryl Burkhart Kriesel is a professor and extension specialist with Rural Prosperity Nebraska. She joins the podcast to discuss an issue many communities may relate to - how to engage new volunteers and new ideas into established local events and activities.
Dr. Burkhart-Kriesel points out that we often hear comments like "we need new people!" and "its the same people do things every year!" when it comes to community events. But making that transition to new leadership and volunteers isn't always easy. Both established organizers and new community members wanting to help out can benefit from strategies to open up participation.
Read more: https://cap.unl.edu/rural/getting-people-involved-community-events-art-and-science
October is National Cooperative Month, a chance to celebrate cooperatives and learn about how these community-driven businesses operate, and their impacts across Nebraska.
Charlotte Narjes is an extension educator with Rural Prosperity Nebraska and director of the Nebraska Cooperative Development Center here at UNL. She has over 15 years of experience working with cooperatives and rural community development, which includes providing education and technical assistance to groups exploring cooperative business models. She is passionate about the power of cooperatives to drive economic opportunities in rural areas.
Read more at https://cap.unl.edu/rural/owning-our-identity-%E2%80%93-celebrating-cooperatives-2023
In 2023, Nebraska's farm real estate values have seen a substantial increase, with the average acre now valued at $4,240, according to new information from the USDA National Agricultural Statistics Services – or NASS. We’ll dive into the newly published report that details land values and county-level cash rates across the state, with Jim Jansen, an agricultural economist with the Center for Ag Profitability. He’s leads UNL’s efforts to publish the annual Nebraska Farm Real Estate Survey and Report, which was released earlier this summer. He’s just co-authored an article analyzing the new USDA report and what it could mean for the state. We'll discuss the key findings, what's driving these trends, and the implications for farmers, ranchers, and the broader agricultural community.
Read more at https://cap.unl.edu/land/usda-reports-2023-nebraska-land-values-and-county-level-cash-rent-estimates.
Cooperative businesses are playing an increasingly large role in fostering economic growth, community bonds, and preserving local character in communities across Nebraska. From grocery stores to homecare, the cooperative model is offering innovative solutions to communities across the state. Many of those organizations work with the University of Nebraska-Lincoln’s Nebraska Cooperative Development Center to both get their start and maximize their impact over time. Cindy Houlden is a Cooperative Development Specialist with NCDC and she joins me now to talk more about the impact that cooperative businesses are having across Nebraska.
Read more at https://cap.unl.edu/rural/cooperatives-making-difference-nebraska-communities-0
University of Nebraska-Lincoln Extension faculty recently traveled to Darwin, Australia, to attend the World Community Development Conference and share their expertise while learning new approaches.
Marilyn Schlake, an extension educator with Rural Prosperity Nebraska, and Cheryl Burkhart-Kriesel, a professor and Rural Prosperity Nebraska extension specialist, made the trip in June 2023 for the global conference. They reached out to make new international collaborations for potential research opportunities and to share what Nebraska is doing in community economic development.
While the challenges of farming are vast and varied, one often overlooked issue is the risk that comes with the unexpected death or disability of a younger member of the operation. Jessica Groskopf is an extension educator and agricultural economist with the University of Nebraska-Lincoln. Her latest article serves as a call for young individuals in the farming and ranching sector to take estate planning seriously, highlighting the importance of being prepared.
Read more: https://cap.unl.edu/succession/are-you-farmer-or-rancher-over-18-it%E2%80%99s-time-estate-plan.
With the 2018 Farm Bill set to expire and the looming uncertainties, Brad Lubben, an extension policy specialist with the University of Nebraska-Lincoln, sheds light on the challenges and considerations surrounding this crucial piece of legislation.
Read the article in full on Nebraska Farmer's website, and visit cap.unl.edu for more ag policy information.
Consumers seem willing to pay more for their burgers and meatballs, with continued strong demand despite ground beef prices remaining high. What does this mean for cattle producers thinking about expanding their herds this fall?
We explore that question with Elliott Dennis, assistant professor and livestock marketing economist with the University of Nebraska-Lincoln. He recently wrote an in-depth analysis looking at factors like retail beef prices, slaughter cow prices, heifers on feed, and more.
Read that article here: https://cap.unl.edu/livestock/high-culling-continues-impact-beef-market.
"Selling cattle is a complex process, with many factors determining the price producers can get for their animals. Calves with certain blemishes like bobbed tails, frozen ears, or off-colors are often discounted at sale barns. But is there another way for producers to market these calves and capture more value?
Randy Saner, a beef systems educator with Nebraska Extension, has a new article up on our site at cap.unl.edu, detailing ideas on how to add value to blemished calves.
We'll discuss Randy's advice on facilities, health protocols, enterprise analysis, and marketing needed to make this approach work. Randy will also share his insights on the cattle market outlook, given tighter calf supplies this year.
Read more at https://cap.unl.edu/livestock/marketing-calves-blemishes.
In 2017, the University of Nebraska-Lincoln’s Institute of Agriculture and Natural Resources and Nebraska Extension committed to implementing a multidisciplinary Beef Systems Initiative to develop and implement beef production systems a Nebraska. A parallel project, supported the the Foundation for Food and Agriculture Research, brought together a panel of Agricultural Lenders from across Nebraska, to advise UNL researchers on financial considerations for producers who are implementing new or expanding existing operations.
The panel of lenders first met in 2019, and recently reconvened from June 27-30, 2023, to assess the shifts in economic conditions and lender perspectives over the past four years. They discussed everything from the challenges posed by drought and rising inflation to the nuances of cash flow management and obstacles facing the next generation of farmers.
Jay Parsons, a professor and farm and ranch management specialist with the Center for Ag Profitability here at Nebraska, was part of both discussions and joins me now to talk more about what was covered this past June when the ag lenders panel held their forums.
Read more at: https://cap.unl.edu/management/ag-lenders-offer-insight-conditions-nebraska-livestock-producers.
Understanding your farm's finances is critical to making sound decisions and positioning your operation for success. But the accounting methods used for tax purposes don't always provide the information needed to properly manage your business.
Our guest today, Shannon Sand, is here to explain the key differences between tax accounting and managerial accounting. Shannon is an agricultural economist with the University of Nebraska specializing in farm management.
In a new article up on cap.unl.edu, she lays out how tax accounting focuses on external reporting and follows rules aimed at calculating taxable income. In contrast, managerial accounting looks inward, capturing the data needed to analyze production costs, cash flows, capital investments, and overall profitability.
Read more at https://cap.unl.edu/finance/tax-accounting-vs-managerial-accounting-what-difference-and-why-does-it-matter.
With harvest just around the corner, many farmers may be considering the decision custom hire out harvesting work. Glennis McClure, a Nebraska Extension farm and ranch management analyst with the Center for Ag Profitability, has a new article on our site at cap.unl.edu, looking at the factors and costs that come into play when deciding between hiring a custom operator versus performing harvest with owned equipment. She also highlights how UNL’s Agricultural Budget Calculator program can assist with these decisions.
Read more at https://cap.unl.edu/finance/harvest-operations-own-it-or-hire-ithttps://cap.unl.edu/finance/harvest-operations-own-it-or-hire-it.
From drones scouting fields to real-time data-driven decisions, the embrace of technology by U.S. agriculture is expanding, with Nebraska at the forefront. A recent USDA-NASS survey shows 77% of Nebraska's farmers and ranchers now integrate computers into their work, a jump from 74% in 2021. Moreover, 85% use smartphones, up by five points in two years.
Larry Van Tassell is a professor in Agricultural Economics at the University of Nebraska Lincoln, and director of UNL’s Center for Agricultural Profitability. As a graduate student, he helped survey producers in the 1980s – just as personal computers were beginning to emerge – about their attitudes toward adapting technology to help manage their operations. He dove into the new report, contrasting today’s attitudes about tech in ag with the skepticism he found among producers 30 to 40 years ago, in a new article on our website, cap.unl.edu. He’s here to talk more about the survey, how the perception of using technology in agriculture has evolved, and the important role it plays in today’s decision-making environment.
Read more at: https://cap.unl.edu/management/technology-use-growing-nebraska-farms-and-ranches.
For landlords and tenants with verbal lease agreements in place, September 1st represents an important deadline in Nebraska. The state Supreme Court has ruled that the lease year begins on March 1st and the notice to a tenant to vacate under a verbal lease must be given six months in advance of the end of the lease – or no later than September 1st. We’ll walk through what this means for both parties, discuss the benefits of written leases over verbal agreements, and highlight the differences between cropland and pasture leases. Jessica Groskopf, an extension agricultural economist at UNL, discusses.
Read more at https://cap.unl.edu/land/terminating-verbal-farmland-lease-nebraska.
Tina Barrett, with Nebraska Farm Business, Inc., explains a new tax law that could impact many agricultural operations across our Nebraska
Earlier this year, the Nebraska Legislature passed LB754, which contains changes allowing partnerships and S-corps to elect to pay state income taxes at the entity level, rather than only at the owner level. This opens up potential federal tax benefits for pass-through entities that were previously only available to C-corps in Nebraska. The law also includes options to make this election retroactively from 2018 to 2022.
Tina discusses how this new approach works, who may benefit from it, and what business owners should consider if debating whether to make this election.
Read more: https://cap.unl.edu/finance/nebraska-legislature-approves-pass-through-entity-tax-bill
Agricultural commodity prices remain strong as we head into summer 2023, but market volatility is a constant presence for farmers and ranchers, and high prices can bring both optimism and anxiety for producers. That’s according to Jay Parsons, UNL Farm and Ranch Management Specialist with the Center for Ag Profitability, who has co-authored a new article on our site at cap.unl.edu, which discusses the importance of managing market volatility this year. He’s joins to talk about current commodity prices and some strategies for growers and sellers to navigate any potential challenges in the markets.
Read more at https://cap.unl.edu/management/managing-market-volatility-2023.
A new tool developed by the Center for Agricultural Profitability works to help demystify farm finances by making easy work of calculating annual loan payments. The free, web-based Loan Payment Calculator is available for use now at our website, https://cap.unl.edu/loancalculator. Extension Ag Economist Jessica Groskopf is here to talk about it.
Read more at https://cap.unl.edu/finance/new-loan-payment-calculator-tool-launched/.
Impressive yields at harvest don’t mean a lot if the costs to grow the crop outweigh the price at marketing time. On this episode, we dive into the importance of calculating breakeven prices and yields to improve profitability. From understanding how much yield you need to cover your costs, to incorporating things like family living expenses and opportunity costs, there are many considerations to be made. Enterprise budgeting to understand those expenses and determine breakeven prices and yields can be time-consuming, but we’ll also talk about how UNL’s ag budget calculator program can streamline the process.
Larry Van Tassell is a professor in Agricultural Economics and director of the Center for Agricultural Profitability here at UNL.
Read more at https://cap.unl.edu/management/using-breakeven-analysis-better-decisions.
In a unique initiative by the American Councils for International Education, Nebraska Extension educators Molly Brandt and Marilyn Schlake were invited to travel to the countries of Georgia and Armenia in October 2022, and April 2023, to train local educators in the principles of the 4-H Entrepreneurship Investigation (ESI) curriculum.
Brandt, an innovation and entrepreneurship 4-H educator, and Schlake, a Rural Prosperity Nebraska educator in the Department of Agricultural Economics, prepared for what they thought was a one-time experience. However, after their successful endeavor in Tbilisi, Georgia, in October 2022, they were invited back in April 2023, to deliver similar training in Yerevan, Armenia.
Read more at https://cap.unl.edu/rural/nebraska-extension-educators-bring-entrepreneurship-education-georgia-and-armenia.
As summer unofficially kicks off and fuel prices fluctuate, it’s important to understand how transportation factors like diesel prices, animal handling, and trucking industry changes are impacting the beef cattle industry. Elliott Dennis, assistant professor and livestock economist with the Center for Agricultural Profitability here at Nebraska, has a new article on cap.unl.edu about what’s behind the changing costs of cattle transportation in the U.S. and he joins the podcast to discuss what’s influencing the price of getting cattle from A to B and what challenges could be ahead for the livestock industry in this area.
Read more at https://cap.unl.edu/livestock/changing-cost-cattle-transportation.
When it comes to marketing feeder cattle in 2023, current calf prices are leaving some cow-calf producers optimistic about profits this year, even though forage availability continues to be tight and input costs continue to be high. Because a lot can happen between now and marketing time, price protection should still be a priority, even when that price outlook is optimistic.
That’s according to Jay Parsons, professor and farm and ranch management specialist in UNL’s Department of Agricultural Economics and Center for Agricultural Profitability. He’s authored a new article on our website, cap.unl.edu, and joins to discuss the importance of protecting prices and how Livestock Risk Protection insurance – and recent enhancements to the program – can serve as a valuable tool for managing market risks.
Read more at https://cap.unl.edu/livestock/managing-calf-market-risk-lrp-2023.
Cattle prices are up this year, but rising interest rates and challenges in the labor market present important decisions ahead for livestock producers. We'll explore how cattle producers can adapt their strategies to mitigate the the negative effects of the current economic environment while maintaining wide profit margins.
University of Nebraska-Lincoln Livestock Economist Elliott Dennis is an assistant professor in the Department of Agricultural Economics and has a new article on our website at cap.unl.edu, about current price trends and the importance of adopting strategies to be more profitable this year.
Read more: https://cap.unl.edu/livestock/higher-cattle-prices-are-good-wide-profit-margins-are-betterhttps://cap.unl.edu/livestock/higher-cattle-prices-are-good-wide-profit-margins-are-better.
How active are rural Nebraskans when it comes to volunteering in their community? Rural communities depend on volunteers for a wide range of roles, including essential services like fire and rescue, coordinating community events, and supporting local youth organizations. The University of Nebraska-Lincoln’s 2022 Nebraska Rural Poll asked respondents about their volunteerism and attitudes toward volunteerism in their communities.
Becky Vogt, survey research manager with the Nebraska Rural Poll, discusses.
Read more at: https://cap.unl.edu/rural/rural-poll-community-size-age-impact-volunteerism-nebraska.
For the first time in history, the number of Americans 65 and older now exceeds the number of Americans five and under, according to census data. As the U.S. population continues to age, many rural communities are facing a lack of elder care facilities, forcing those in need of care to relocate to a larger community. Last year, the Nebraska Cooperative Development Center – or NCDC – at the University of Nebraska-Lincoln, launched a six-week Homecare Worker Cooperative Academy in partnership with the Northwest Cooperative Development Center in Washington State. The program aims to address the potential elder care crisis by supporting the development of local homecare worker cooperatives that provide in-home care in rural communities.
Cindy Houlden, cooperative development specialist with the University of Nebraska-Lincoln's Nebraska Cooperative Development Center, discusses the issues facing long-term senior care in rural communities and the benefits of worker cooperatives for homecare workers and the community.
Read more: https://cap.unl.edu/rural/homecare-worker-cooperatives-aim-support-aging-place-rural-nebraskahttps://cap.unl.edu/rural/homecare-worker-cooperatives-aim-support-aging-place-rural-nebraska.
Strategic planning can usually be beneficial to any business, and farm and ranch operations are no exception. Coming up with clear missions, visions, and goals for the business can provide a roadmap to achieve a farm’s objectives and get everyone on the same page. But are farmers and ranchers taking the time for strategic planning?
Jay Parsons, professor and farm and ranch management specialist in the University of Nebraska-Lincoln’s Department of Agricultural Economics, looks at this topic in a new article posted on our Center for Ag Profitability’s website, cap.unl.edu. He discusses the importance of strategic planning and some barriers to the process that farmers and ranchers should seek to overcome for a healthier business.
Read more: https://cap.unl.edu/management/what-value-strategic-planning-farmers-and-ranchers.
Three significant ag law bills are being heard in the Nebraska Unicameral in 2023, dealing with agricultural leases, livestock nuisance lawsuits, and mesonet weather stations. Dave Aiken, professor and ag law specialist in the Department of Agricultural Economics at the University of Nebraska-Lincoln, walks through each of these and their potential implication for agriculture in Nebraska.
Read more at https://cap.unl.edu/policy-legal/2023-nebraska-ag-law-legislative-update.
Producers have until March 15 to enroll in crop insurance coverage for 2023. Two elections that have recently been getting new attention are the Supplemental Coverage Option – or S-C-O — and the Enhanced Coverage Options — or E-C-O.
Cory Walters, an associate professor in Agricultural Economics at the University of Nebraska-Lincoln, encourages caution and careful consideration before purchasing either S-C-O or E-C-O coverage.
Read more at: https://cap.unl.edu/crops/caution-needed-when-purchasing-supplemental-coverage-option-and-enhanced-coverage-option.
The cattle industry right now is seeing decreases in the number of beef cows, as well as in the number of heifers held back for retention heifers expected to calve this year. Weather in the Northern Plains region continues to impact the availability of hay following an already shortened grazing season, and many input costs for cattle producers are likely to be high again this year. With feeder cattle supplies reduced nationally, the bred cow market may be appealing for producers looking to rebuild herds. For more on what considerations should be made before making this decision, Elliott Dennis, Assistant Professor and Livestock Economist with UNL’s Center for Ag Profitability joins us.
Read more at https://cap.unl.edu/livestock/risk-management-workshops-cattle-producers-set-march
For older farmers and ranchers, the decision to retire and pass the operation along to the next generation can be a difficult one. Oftentimes, the older generation can find it difficult to give up the power and control they have accumulated over their careers, and may not know what else to do. However, as Nebraska Extension Educator Allan Vyhnalek points out in his work on transition and succession issues, it’s important for the older generations to train and incorporate the younger generations into the operation. And doing so with planning and care, especially in management and decision-making roles.
Read more at https://cap.unl.edu/succession/recognizing-power-and-control-estate-planning.
The U.S. economy in the upper Midwest and great plains is driven heavily by agriculture, with the seven-state region made up of Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota, being responsible for producing over 30 percent of the nation’s agricultural output. Nebraska continues to be a leader in the sector, with significant impact and high output, while occupying a substantial amount of cropland and pastureland in the region.
A new analysis on our website, cap.unl.edu, breaks down Nebraska’s position as an economic force in agriculture in both the region and the country. Tatum Brunkow is a Graduate Research Assistant in the University of Nebraska-Lincoln’s Department of Agricultural Economics. Hi, Tatum. And Brad Lubben is an associate professor and extension ag policy specialist with UNL.
Read more at https://cap.unl.edu/policy-legal/nebraska-agriculture-leader-region-and-country.
In rural areas, leadership is essential to the development of communities. In areas with smaller populations, volunteers often fill leadership positions, with many community members taking on multiple roles. The 2022 Nebraska Rural Poll sought to find out how residents in or near rural communities feel about their leadership. Becky Vogt, survey research manager with the Nebraska Rural Poll, discusses the findings.
Read more at https://cap.unl.edu/rural/rural-poll-gauges-sentiment-about-community-leadership-rural-nebraska.
More about the Nebraska Rural Poll at ruralpoll.unl.edu.
Applications for cooperative business development mini grants are now being accepted for 2023 by the University of Nebraska-Lincoln’s Nebraska Cooperative Development Center. The mini grants are available to both existing cooperatives and groups who are exploring or developing cooperative business models. The application is open through February 15th. UNL Cooperative Development Specialist Cindy Houlden discusses the grant opportunity.
Read more: https://cap.unl.edu/rural/2023-cooperative-business-development-mini-grant-program-request-applications.
Holding corporate meetings and taking and retaining minutes from those meetings is typically a requirement for most incorporated farm and ranch businesses. Not holding an annual meeting and keeping minutes could result in the loss of legal status as a corporation if the business is sued. While corporate meetings don’t often come to mind when we first thing of farming and ranching, holding them and keeping good minutes is fairly simple. A new article on our website, cap.unl.edu, outlines some recommendations for what should be included on meeting agendas and in annual meeting minutes to satisfy legal requirements. It was co-authored by Jessica Groskopf, an agricultural economist, and Dave Aiken, an ag law specialist – both are with Nebraska Extension and the Center for Agricultural Profitability.
Read more at https://cap.unl.edu/management/meeting-minutes-requirements-farm-and-ranch-businesses.
Planting for the 2023 growing season will begin soon and there are new marketing decisions to be made. Pre-harvest marketing, or hedging, is a popular strategy that can help increase the bottom line and reduce price uncertainty. However, many producers may be skittish about hedging, perhaps having heard about a neighbor who lost money or maybe experiencing negative results themselves. There is a lot of information out there when it comes to hedging and it can be contradictory and confusing.
Cory Walters is an associate professor in the University of Nebraska-Lincoln’s Department of Agricultural Economics and has co-authored a new article seeking to improve some of the disconnect associated with decisions about hedging.
Read more at https://cap.unl.edu/crops/hedging-your-average-crop-price-using-seasonals.
New survey data from the USDA points to an increase of 21% in Nebraska farm real estate values in 2022, up $650 for the year, to an average of $3,750 per acre. For insight on the factors driving current trends in land values, as well as cash rental rates, University of Nebraska-Lincoln Agricultural Economist Jim Jansen joins the podcast.
Read more at: https://cap.unl.edu/land/year-review-usda-reports-higher-land-values-and-county-level-cash-rent-estimates-across.
The price of fertilizer continues to be on the minds of producers, but there may be better news ahead and some relief on the way. Professors John Beghin and Lia Nogueira have authored a new article that looks at the latest price trends in fertilizer, what’s contributing to the fertilizer market and how prices are impacting affordability. Beghin and Nogueira are both faculty members in the Department of Agricultural Economics at the University of Nebraska-Lincoln and both are part of the Clayton Yeutter Institute of International Trade and Finance at UNL.
Read more at https://cap.unl.edu/crops/better-news-world-fertilizer-markets.
As commodity markets evolve from spring to fall, average daily prices tend to fall as harvest gets closer. Pre-harvest hedging, or selling a portion of the crop before it is harvested, can help capture the earlier futures prices, but often comes with risk. Cory Walters, associate professor and grain marketing economist with the Center for Agricultural Profitability, recently published an article in the UNL Ag Econ department’s “Cornhusker Economics” series, on the implication of historical corn price evolution on pre-harvest hedging.
Read more at https://cap.unl.edu/crops/historical-corn-price-evolution-implications-pre-harvest-hedging.
With Thanksgiving just around the corner, the holiday shopping season is on the way as well, starting with Black Friday. But while the day after Thanksgiving gets a lot of attention, Small Business Saturday on the following day offers a special opportunity for those in rural communities to support local businesses and their community’s economy. Cheryl Burkhart-Kriesel, Professor and Extension Specialist with Rural Prosperity Nebraska, discusses the impact that shopping local has in rural communities in Nebraska
Read more: https://cap.unl.edu/rural/it-time-year-%E2%80%A6-small-business-saturday-supports-rural-communities.
Drought conditions across the U.S. continue to impact livestock producers. Cow-calf operators with calves are deicing whether to sell or retain after weaning, and the cost to add more weight, along with the eventual final sale price, are important factors to consider. UNL Livestock Economist Elliott Dennis has a new article looking at different scenarios for adding weight and the impact they may have on sale prices.
Read more at: https://cap.unl.edu/livestock/value-gain-winter-backgrounded-cattle.
Inflation and the economy have been on the minds of many Americans. This past summer, the Nebraska Rural Poll gauged the attitudes of rural Nebraskans about these topics, asking participants about their expectations for the economy over the next 12 months, as well as about the employment decisions they are making this year. Becky Vogt, the survey research manager for the Nebraska Rural Poll, discusses the findings. Find the entire poll at ruralpoll.unl.edu.
Read more at https://cap.unl.edu/rural/rural-nebraskans%E2%80%99-perceptions-economy-and-employment.
An upcoming webinar series presented by the Nebraska Cooperative Development Center at the University of Nebraska-Lincoln, called Co-op Innovation in the Food System, will feature a variety of businesses and educate about how they use the cooperative model to address issues like land access, infrastructure needs, fair prices and land stewardship. The free series is set to feature three webinars, beginning December 6. Margaret Milligan, Cooperative Development Specialist with the Nebraska Cooperative Development Center, discusses the series.
Read more at https://cap.unl.edu/rural/webinar-series-planned-co-op-innovation-food-system.
Incorporating Distillers’ grains into livestock feed can be an effective way to add weight and other desirable nutrition qualities to an animal’s diet. Elliott Dennis, assistant professor and livestock economist with the Center for Ag Profitability, has just published a new article that looks at the impact of low corn stocks-to-use ratios, as well as the conflict between Russia and Ukraine, on the Distillers-to-corn price ratio.
Read more at https://cap.unl.edu/livestock/impact-low-stocks-use-ratio-and-ukraine-russia-conflict-distillers-corn-price-ratio.
The University of Nebraska-Lincoln’s Agricultural Budget Calculator program – known as ABC -- is a free, web-based decision tool that helps users to develop farm enterprise budgets. Developed in the Department of Agricultural Economics, the program continues to add features that assist producers and farm managers in determining their cost of production and projected cash and economic returns for farm or ranch enterprises. Larry Van Tassell, department head in Agricultural Economics and director of UNL’s Center for Agricultural Profitability, discusses some of the ABC program’s features and how it can provide robust and helpful information to users.
Read more at https://cap.unl.edu/finance/11-key-management-questions-or-decisions-can-be-made-easier-using-agricultural-budget.
There are a number of scenarios in which the ownership and liability for center pivots can be divided between landowners and tenants, which can create complications for both parties. However, different scenarios often call for adjusting rental payments when tenants own all or part of the pivot. And, regardless of how ownership is divided, one thing is certain: the landowner and tenant need to put the arrangement in writing as part of the lease.
For more on different situations that can impact rental payments, Jessica Groskopf, an extension ag economist with the Center for Ag Profitability, joins the podcast.
Read more: https://cap.unl.edu/land/how-adjust-rental-payments-when-tenants-own-center-pivot.
With continued high percentages of heifers in total cattle on feed in the U.S., indications are that the breeding herd could be smaller I n 2023 and 2024. Because heifer calves are often discounted compared to steers, large prices differences between the two could provide incentives for heifers to be retained in the coming years. For more on heifer price discounts this year, and what that could mean for herd size and makeup, as well as the beef industry, Elliott Dennis, assistant professor and livestock economist in the Department of Agricultural Economics at UNL, joins the podcast.
Read more: https://cap.unl.edu/livestock/2022-heifer-price-discounts.
In Nebraska, so many of us love the rural lifestyle, but it can present challenges for the provision of key services and infrastructure in those areas. Cheryl Burkhart-Kriesel, a professor in UNL’s Agricultural Economics Department and an Extension Specialist with Rural Prosperity Nebraska has a new article looking at some data about the more sparsely populate areas of the state, and what it means to live there.
Read more at https://cap.unl.edu/rural/being-rural-nebraska-both-blessing-and-curse.
For livestock producers managing available feed resources on pasture and rangeland during a drought, taking care to avoid overgrazing is essential. Nebraska Extension Beef Systems Educator Ryan Benjamin discusses how stocking rates and other management practices can be effective, along with the importance of being flexible in planning and applying these strategies.
Read more at https://cap.unl.edu/livestock/flexible-stocking-rate-options-drought-management.
With drought conditions impacting pastures and fields across Nebraska, there are some important tax deferrals that may be available for both livestock and crop producers. Tina Barrett, director of Nebraska Farm Business, Incorporated, joins the podcast to discuss.
Read more at https://cap.unl.edu/finance/tax-consequences-drought.
University of Nebraska-Lincoln Associate Professor Cory Walters discusses the upcoming crop insurance workshop in Grand Island, Nebraska.
Find more about the workshop, Oct. 19 at the Heartland Events Center, here.
When making decisions for your agricultural operation, it’s important to take a step back and get perspective – especially when it comes to estate planning and leasing. This is particularly important when family is working together in the business, which can often lead to rifts among family members who may feel treated unfairly. For more on these issues, and how to avoid them while maintaining good family relations, Allan Vyhnalek, a Nebraska Extension Educator in Farm and Ranch Transition and Succession, joins the podcast.
Read more: https://cap.unl.edu/succession/get-perspective-big-decisions.
Following a Trump administration era trade deal signed a few years ago, the total quantity and value of U.S. beef being exported to China have both risen significantly. This remained true even through the COVID-19 pandemic. However, recent heightened tensions between the two countries over the situation in Taiwan has left some U.S. producers concerned about the sensitivity of the U.S. beef industry to Chinese purchases. That’s according to assistant professor and livestock economist with our Center for Ag Profitability, Elliott Dennis.
Read more: https://cap.unl.edu/livestock/tensions-surrounding-us-beef-exports-china.
While children in farm families often seek out different paths when they graduate from high school or college, many want to come back to work on the operation. But finding a place for them and generating the cash flow to pay for it, takes some planning.
To discuss what it really takes to employ more family members, and business strategies to set the farm up for success with future generations, is Dr. Larry Van Tassell, director of the Center for Agricultural Profitability and head of the Department of Agricultural Economics at the University of Nebraska-Lincoln.
Read more: https://cap.unl.edu/management/adding-another-family-member-farm-payroll.
When it comes to farm leases, having a verbal, or “handshake” agreement in place, rather than a written document, can present challenges for all parties involved. Jessica Groskopf, an agricultural economist with the Center for Ag Profitability, has a new article on our website, cap.unl.edu, that provides an overview of written leases and, in particular, the termination dates associated with them under Nebraska law.
Read more: https://cap.unl.edu/land/terminating-verbal-farmland-lease-0.
Managing risk in an agricultural operation is a never-ending job. Available information related to tools like marketing contracts and crop insurance is constantly changing. Given the state of constant change and uncertainty, it’s important for operations to work to create a good risk management culture, where everyone manages risk on a day-to-day basis in a positive and timely manner. That’s according to Jay Parsons, professor and farm and ranch management specialist with the Center for Ag Profitability here at UNL. He has a new article on our site that offers five key principles for a good risk management culture.
Read more at https://cap.unl.edu/management/five-key-principles-good-risk-management-culture.
Beef clow slaughter numbers have been elevated so far in 2022, but, as UNL Livestock Economist Elliott Dennis points out in a new article posted to our website at cap.unl.edu, the rate at which slaughters have occurred has been puzzling. Dr. Dennis discusses what factors may be incentivizing the sell-off of cows and what this means for 2023’s calf crop and beef production going into the next few years.
Read more: https://cap.unl.edu/livestock/beef-slaughter-and-price-relationship-amid-2022-economic-conditions.
As the newly released UNL Nebraska Farm Real Estate report indicated, agricultural land values in the state have continued to climb this year, reaching an all-land statewide average of $3,360 per acre – a 16% increase over last year. These increases are being seen across the region as well, with the Federal Reserve Bank of Kansas City recently reporting some cropland increases as high as 32% over last year. Jim Jansen, an extension ag economist with the Center for Ag Profitability, discusses cropland values across the central U.S., and what’s driving the increases.
Read more: https://cap.unl.edu/land/cropland-values-central-us-show-strength-2022.
The 2021 Nebraska Rural Poll, conducted by the University of Nebraska-Lincoln, looked at the levels of trust rural Nebraskans have in local and national media sources. To discuss the findings, and how trust in media has changed across the state since the rural poll last gauged this in 2017, is Becky Vogt, survey research manager for the Nebraska Rural Poll.
Read more at https://cap.unl.edu/rural/changes-trust-media-rural-nebraska.
High commodity prices and good yields contributed to a rise in net farm income and improvement in profitability across Nebraska last year for many agricultural operations. Many of those businesses experiencing improvements in liquidity, but there could be challenges for them in protecting that liquidity. That’s according to Tina Barrett, director of Nebraska Farm Business, Incorporated, which provides financial analysis, business planning and tax services to over 400 clients in agriculture across the state. She joins the podcast to discuss more about what their 2021 data reveals about the financial standing of farms in Nebraska.
Read more at https://cap.unl.edu/finance/protecting-liquidity-tax-planning.
During the summer months that tend to be a busy time for cows, nutrient demand are high, which can create a bad situation for the cows when pasture conditions are poor due to drought. For more on maintaining condition on cows while stretching pasture resources, we hear from Dr. Karla Wilke, professor of animal science at the University of Nebraska-Lincoln.
Read more at https://cap.unl.edu/livestock/when-drought-stressed-pastures-look-dormant-july.
Trust is an important part of any business relationship and that’s perhaps even more true – and maybe more essential – in farm businesses, where families often work together. Many farmers know and ranchers know well that family relationships can impact the family business, and vice-versa. On this episode, with some tips on how to build and keep trust to maintain a functioning business and, more importantly, a functioning family, is Allan Vyhnalek, an extension educator for farm and ranch transition and succession with the Center for Ag Profitability at Nebraska.
Read more at: https://cap.unl.edu/succession/without-trust-how-does-family-function.
When fences become damaged following a disaster, it’s important for landowners and livestock owners to be aware of Nebraska fence law and considerations – including for possible replacement assistance -- as the damage is assessed. Jessica Groskopf, an agricultural economist with Nebraska Extension and the Center for Agricultural Profitability at the University of Nebraska-Lincoln, discusses
Read more at https://cap.unl.edu/management/rebuilding-fences-after-disaster.
Boards of directors play important roles in the cooperative structure. But some directors, especially if they have limited business experience, may find themselves struggling to identify basic questions that need to be answered to ensure the cooperative is successful. According to Cindy Houlden, a cooperative development specialist with the Nebraska Cooperative Development Center, the evaluation of cooperative operations and leadership is essential.
Read more at https://cap.unl.edu/rural/cooperative-directors-asking-necessary-questions-0.
With recent drought conditions across Nebraska, concerns about the availability of forage for cattle this grazing season are top of mind for many producers. While planting forage can have numerous benefits, there is also a certain amount of risk that comes with uncertainty about precipitation and soil moisture.
The Annual Forage Insurance Plan from the USDA Risk Management Agency is a program that can help crop and livestock producers mitigate these precipitation risks when growing annual forages. The signup deadline for coverage during the next year is July 15 and, for more about the program, we hear from Jay Parsons, professor and farm and ranch management specialist with the Center for Agricultural Profitability at UNL.
Read more at https://cap.unl.edu/forage/insurance-annual-forages-sign-deadline-july-15.
The most recent interest rate hike made by the Federal Reserve to combat to rising inflation marked the largest one-time increase since 2000 and was already the second increase of 2022 – and more may be on the way. With grazing land values also reaching near-record highs this year, feeder and fed cattle producers are encountering more hurdles to profitability. Feeder cattle producers are encountering near record-high grazing land values and fed cattle producers are experiencing high input costs and feeder-to-livestock interest rates. Both are posing significant hurdles to profitability. Dr. Elliott Dennis, an assistant professor and livestock marketing economist with the Center for Ag Profitability here at UNL, explains.
Read more at https://cap.unl.edu/livestock/feeder-cattle-interest-rates-grazing-land-values-pose-hurdles-producers.
With school letting out for the year, summer vacation season is upon us and, even with high fuel prices, travel is likely to pick up. And that may mean opportunities for Nebraska residents to show off the best of their communities to visitors or travelers passing through. According to Dr. Cheryl Burkhart-Kriesel, an extension specialist with Rural Prosperity Nebraska, it can be the little things that make the difference in leaving a positive impression.
Read more at https://cap.unl.edu/rural/welcoming-communities-it%E2%80%99s-little-things-matter.
Are U.S. farmers being paid fairly for the quality of the hard red winter wheat they produce? New research at here at the University of Nebraska-Lincoln looks at the role of quality characterizing in pricing hard red winter wheat. The findings are summarized in a new Cornhusker Economics article from UNL’s Agricultural Economics department, which we have posted on our site, cap.unl.edu. For more, one of the co-authors of the research, Cory Walters, an associate professor in the Ag Econ Department at UNL, joins the podcast.
Read more at https://cap.unl.edu/crops/are-you-paid-your-hard-red-winter-wheat-quality.
In national polls, confidence in various government institutions had declined last year after increasing slightly in 2020. However, people are more likely to have confidence in local institutions compared to national ones. In fact, Gallup has found that confidence in local government remains higher than state government, which is higher than the federal government. Given this, how much confidence do rural Nebraskans have in various government institutions and systems?What factors influence their confidence?
Becky Vogt, survey research manager for the Nebraska Rural Poll at the University of Nebraska-Lincoln, discusses.
Read more: https://cap.unl.edu/rural/confidence-local-institutions-among-rural-nebraskans-becky-vogt.
As input prices for materials like fuel and fertilizer continue to climb, it’s important for farm managers to keep track of cost of production. The University of Nebraska-Lincoln’s crop budgets can be used as a guide for producers to prepare their own enterprise budgets, and be easily customized – especially in the new online Ag Budget Calculator tool. For more on the importance of tracking cost of production, and how price changes like the ones we have seen lately can impact the bottom line, we talk with Glennis McClure, extension farm and ranch management analyst with the Center for Ag profitability. Read more at https://cap.unl.edu/management/where-your-cost-production-now-and-10-year-glance-back-costs-and-profit-margins.
When children earn wages on the family farm, they are often placed in a savings or 529 account. But Jessica Groskopf, an agricultural economist with Nebraska Extension and the Center for Ag Profitability, also encourages families to consider opening a custodial Roth IRA account, which can have greater earning potential than savings accounts and more flexibility that 529 accounts, among other considerations.
Groskopf, along with Doug Nelson, an adjunct professor with UNL’s Child, Youth and Family Studies department, has authored a new article comparing Roth IRAs to savings accounts and 529 plans. Read more at https://cap.unl.edu/finance/roth-iras-children-earning-wage-farm.
USDA’s March 30th Prospective Plantings report revealed expected decreases in the amount of corn acreage being planted this year, which could have implications for cattle feeders across the country. Dr. Elliott Dennis, assistant professor and livestock marketing economist in the Department of Agricultural Economics here at UNL, has a new analysis reacting to the report, which focuses on feed availability, cost of gain and manure as a potential source of feedlot revenue.
Read more at https://cap.unl.edu/livestock/feed-availability-cost-gain-and-manure-source-feedlot-revenue-and-crop-fertilizer.
Even as pork prices have risen over the last couple of years, U.S. consumer demand has kept up, at least so far. But a few months into 2022, where do prices stand for producers across the hog complex and what might that mean for demand going forward? Dr. Elliott Dennis is an assistant professor and livestock economist in the University of Nebraska-Lincoln’s Department of Agricultural Economics. He has a new article that analyzes pork prices so far this year and he joins to discuss.
Read more: https://cap.unl.edu/livestock/strong-prices-along-pork-complex.
Ask any farm transition professional about how many farmers and ranchers have an estate plan or an up-to-date succession plan in place, the answer will often be half, or less than half. While there may be a number of reasons for these numbers, those same farm transition professionals will all agree on the same point: that estate and succession planning is a necessity.
Allan Vyhnalek, an extension educator for farm and ranch succession and transition at the University of Nebraska-Lincoln, offers some simple steps that farmers and ranchers can take now with their families to put together these plans.
Read more at https://cap.unl.edu/succession/farm-succession-planning-why-and-how.
Recent USDA Cattle on Feed Reports have continued to reveal the largest number of cattle on feed since the department began collecting data in 1996. However, while the number of cattle on feed has been steadily increasing, placement weights have changed, compared to the previous five years, with increases seen in the number of feeder cattle weighing less than 700 pounds. Joining the podcast to discuss what’s factoring in to these changes, and how they could impact the beef industry, is Dr. Elliott Dennis, assistant professor and livestock marketing economist in the Department of Agricultural Economics here at the University of Nebraska-Lincoln.
Read more at https://cap.unl.edu/livestock/corn-costs-and-cattle-placement-weights.
There are a number of price risk management tools available to livestock producers but learning about all of the options and knowing when to actually apply them – or not -- can be challenging. Dr. Elliott Dennis, with the University of Nebraska-Lincoln’s Department of Agricultural Economics, offers advice on how to navigate the available options and discuss the importance of matching the right price risk management to different market situations.
Read more at https://cap.unl.edu/livestock/matching-price-risk-management-tools-market-situations.
The average value of agricultural land in Nebraska is up 16% this year, according to the newly released preliminary report of the annual Nebraska Farm Real Estate Market Survey by the University of Nebraska-Lincoln. The all-land average of three-thousand-three-hundred-sixty dollars per acre is the highest land value reported in the four-decade history of the survey. Nebraska Extension Agricultural Economist Jim Jansen discusses this year's trends in land values across the state and what is factoring in to this increase.
Read more at https://cap.unl.edu/land/2022-nebraska-farmland-values-hit-historic-highs.
When Nebraskans inherit land or other property, they must pay inheritance taxes to the county where the property is located. LB310, just recently signed into law, reduces most inheritance taxes beginning in 2023. Dave Aiken, UNL Extension Water Law & Agricultural Law Specialist, discusses the changes that will be brought by the law.
Read more at https://cap.unl.edu/policy-legal/nebraska-inheritance-tax-update.
Since April 2021, more than 19 million workers have quit their jobs, leaving many businesses – especially those with frontline positions that interact directly with customers – scrambling to hire people. For more on what this so-called “Great Resignation” has looked liked, and what has contributed to it, Dr. Cheryl Burkhart-Kriesel, an extension specialist with Rural Prosperity Nebraska at the University of Nebraska-Lincoln, joins the podcast.
Read more: https://cap.unl.edu/rural/why-aren%E2%80%99t-employees-coming-back-their-jobs
With Cory Walters, associate professor and grain marketing specialist, University of Nebraska-Lincoln.
Crop insurance represents a critically important producer risk management program. Projected prices, a primary factor influencing premium and liability, for both 2022 corn and soybeans have been determined. Projected prices for both commodities reflect the average price of their respective harvest futures contracts during the month of February.
Read more at https://cap.unl.edu/crops/2022-crop-insurance-corn-and-soybean-projected-prices-and-decision-making.
The economic impact of COVID-19 has largely been felt in the livestock and poultry sectors through reduced labor supplies in processing plants, as well as some short-term market disruptions as institutional and retail demand have shifted. To understand more about how processing capacity has been affected and what that has meant for producer cash receipts in Nebraska, we speak with Dr. Elliott Dennis, assistant professor of livestock marketing risk management in the Department of Agricultural Economics here at UNL. Along with Dr. Brad Lubben, he is the co-author of a new article on our website, cap.unl.edu, that examines how this market shock has been felt in Nebraska’s livestock and poultry industries.
Read more: https://cap.unl.edu/livestock/impact-covid-19-cash-receipts-nebraska-livestock-and-poultry-producers
You’ve heard the saying – “no risk, no reward.” When it comes to risk tolerance in a farm or ranch business, some people who haven’t reflected on it in a while may be surprised to learn their own risk tolerance or, sometimes more importantly, the risk tolerance of other decision makers on their operation. Dr. Jay Parsons is an extension farm and ranch management specialist and professor in Agricultural Economics at UNL. He discusses a new article posted on our Center for Ag Profitability site about risk preference, including why it matters on the farm or ranch and how it can be gauged.
Read more at https://cap.unl.edu/management/risk-preference-calculator-tool-help-decision-makers-succeed
Legislative Bill 806 would significantly change Nebraska drainage law, and bring a long overdue reform to Nebraska water law. Joining to discuss this is Dave Aiken, Nebraska Extension Water Law and Agricultural Law Specialist.
Read more at https://cap.unl.edu/rural/new-bill-would-change-nebraska-drainage-law.
Higher costs and low inventory of fertilizer over the past year are continuing for farmers and ranchers in Nebraska. According to Dr. John Westra, professor and program leader with Nebraska Extension in the Ag Econ department at UNL, fertilizer costs account for about 15-to-20 percent of total cash costs for corn production in the state – making this a major concern for producers as the new growing season approaches. He joins the podcast to discuss what’s behind the price increases, what producers can focus on and tools available to help them get a handle on their costs in 2022.
Read more at https://cap.unl.edu/crops/fertilizer-costs-what-driving-increase-and-how-can-growers-manage-it.
With the number of Americans over the age of 65 expected to grow significantly in the next ten years, demand for personal care workers is expected to rise quickly. To help address this expected boom in an industry with high turnover and a shortage of workers, the Nebraska Cooperative Development Center here at UNL, in partnership with the Northwest Cooperative Development Center in Washington state, has developed a new Homecare Worker Cooperative Academy. The six-week program is designed to take caregivers through the cooperative development process. To tell us more is Cindy Houlden, cooperative development specialist with the Nebraska Cooperative Development Center.
Read more at https://cap.unl.edu/rural/homecare-worker-cooperative-academy-launching-nebraska.
As farm and ranch businesses strive to be profitable, it’s important to understand how investments in assets like land, equipment and commodities will impact the balance sheet. At the same time, even when new opportunities may seem profitable, it’s important to consider their financial feasibility and whether the investment will create cash flow issues for the operation. For more on the importance of keeping both profitability and financial feasibility in mind, Larry Van Tassell, professor and department head in Agricultural Economics at UNL joins the podcast. He also serves as director for the Center for Agricultural Profitability.
Read more at https://cap.unl.edu/management/profitability-vs-feasibility-and-paradox-purchasing-farmland.
The pandemic has impacted Nebraskans in many ways, including their consumer habits. As businesses shifted to new methods of operation and residents changed their behaviors, it is natural to assume that shopping patterns would be impacted. Given that, how did rural Nebraskans change their consumer habits during the pandemic, and will they continue these changes going forward? This can have important implications for businesses in rural communities as they adjust to meet these new demands. Becky Vogt, survey research manager with the University of Nebraska-Lincoln's Nebraska Rural Poll, discusses.
Read more at https://cap.unl.edu/rural/changes-consumer-habits-during-and-after-pandemic.
For farm and ranch families in business together, difficult situations can necessitate tough discussions about decisions that need to be made for the operation. Whether it’s death, serious illness, the change in status of a business partner, or something else, conversations about the future of the business – namely what is fair and equal – can prove difficult. Allan Vyhnalek, an extension educator for farm and ranch succession, encourages families to consider putting a succession or transition plan in place before these situations come up.
Read more at https://cap.unl.edu/management/family-goals-and-difficult-times.
Recent research from the University of Nebraska-Lincoln’s Department of Agricultural Economics has found that crop insurance premium subsidies offered by the federal government have contributed to fewer and larger farms. To discuss more about how these subsidies relate to farm consolidation in Nebraska, Cory Walters, associate professor in the Department of Agricultural Economics, joins the podcast. Dr. Walters conducted the research along with Taylor Kaus, a graduate student in the department, and Dr. Azzeddine Azzam, also a professor in Agricultural Economics.
Read more at https://cap.unl.edu/crops/farm-consolidation-and-crop-insurance-premium-subsidies.
2021 was not without its challenges for farmers and ranchers, but producers in Nebraska continued to reliably provide local food options to consumers through farmers markets and other avenues. Buy Fresh Buy Local Nebraska continued to play a critical role in helping to keep Nebraska consumers connected through local food through things like their searchable online database of local food businesses, the annual Nebraska Food Guide publication, and promoting and educating about the benefits of locally grown food.
Margaret Milligan, program coordinator with Buy Fresh Buy Local Nebraska, joins the podcast to to discuss the organization's impact in 2021 and what to look forward to in 2022.
Read more at https://cap.unl.edu/rural/growing-local-food-together.
A new report published by the University of Nebraska-Lincoln’s Bureau of Business Research projects that farm income in Nebraska will exceed $8 billion in 2021, more than the previous highs of around 7 and a half billion dollars in both 2011 and 2013. But with high input costs and possible declines in commodity prices and government payments ahead, levels may be set for a decline in coming years. For more on what’s contributing these record-setting farm income levels, and what may be ahead, Dr. Brad Lubben, extension policy specialist at the University of Nebraska-Lincoln, joins the podcast.
Read his article on the topic at https://cap.unl.edu/policy-legal/nebraska-farm-income-and-farm-policy-directions.
According the Federal Reserve Bank of Kansas City, the value of non-irrigated cropland in the central Plains region of the U.S. increased by up to 28 percent in the third quarter of this year, compared to the same period in 2020. For more on the reasons behind this and the outlook for land values in 2022, Jim Jansen, an agricultural economist at UNL, joins the podcast. He is a co-author of the annual Nebraska Farm Real Estate Market Report, which publishes data on average land values and cash rental rates by region throughout the state, and he has co-written a new article on our website – cap.unl.edu – about the Fed’s third quarter findings.
Read more at https://cap.unl.edu/land/nonirrigated-cropland-values-reflect-strength-commodity-markets-2021.
Dr. Elliott Dennis, assistant professor of livestock marketing and animal health, and Dr. Karla Wilke, associate professor of range management, recap a webinar held on Nov. 4 that focused on the impact of price and management on culling decisions for cattle producers.
Read their article on the subject and view the webinar recording at https://cap.unl.edu/livestock/impact-price-and-management-culling-decisions-0.
The Glasgow Climate Conference ended on November 13, 2021. Dave Aiken, University of Nebraska-Lincoln Water and Agricultural Law Specialist, discusses what the conference accomplished and what that might mean for Nebraska agriculture.
Transcript: https://cap.unl.edu/policy-legal/glasgow-climate-conference-what-does-it-mean-nebraska-ag
As community groups become interested in exploring the cooperative business model, the Nebraska Cooperative Development Center at the University of Nebraska-Lincoln is available to facilitate discussions about evaluating if a cooperative is the best incorporation model. For more on what is considered in these discussions, including the potential advantages and disadvantages of cooperatives, Cindy Houlden, cooperative development specialist with the Nebraska Cooperative Development Center, discusses.
Read more at https://cap.unl.edu/rural/exploring-cooperative-advantage.
Legislation introduced in Congress last year aimed to increase the level of negotiated cash trade in U.S. cattle markets, leading the cattle industry to create a voluntary framework – known as the 75% rule – that aims to increase frequency and price transparency in cattle feeding and packing regions across the country. With the third quarter of the year now complete, Elliott Dennis, assistant professor and livestock marketing economist in the Department of Agricultural Economics at UNL, joins the podcast.
Read more at https://cap.unl.edu/livestock/third-quarterly-report-levels-negotiated-trade-region-under-industry%E2%80%99s-75-rule.
Since reaching low levels in early 2020, the prices of phosphorus and nitrogen fertilizers have increased to their highest levels since 2008 and are expected to continue climbing. And while potassium fertilizer prices have remained lower, increases could be coming in 2022 as well. To discuss what is behind these rising prices – and what could eventually curtail them – John Beghin and Lia Nogueira, both professors in the Department of Agricultural Economics and the Clayton Yeutter Insitute of International Trade and Finance at the University of Nebraska-Lincoln, join the podcast.
They have authored a new article on the subject, which is available on our Center for Ag Profitability website, at https://cap.unl.edu/crops/perfect-storm-fertilizer-markets.
The Pasture, Rangeland, Forage Insurance program offered by the USDA’s Risk Management Agency can help mitigate the financial impact of low precipitation or drought on the bottom line for many livestock producers who depend on perennial grass production. For more on how the program works and the upcoming application deadline for 2022 coverage, Jay Parsons, professor and farm and ranch management specialist in UNL’s Department of Agricultural Economics, discusses.
Read more in Dr. Parsons's article on PRF coverage at https://cap.unl.edu/forage/pasture-rangeland-forage-insurance-applications-due-december-1-2022-coverage.
As one of many conservation practices available to farmers and ranchers, prairie strips can offer benefits to soil and water and can be a good option for lower-yielding fields while providing financial benefits. To discuss more about prairie strips as an example of ecosystem goods and services, and research being conducted about the practice, is John Westra, professor and program leader in Agricultural Economics at the University of Nebraska-Lincoln.
Read more at https://cap.unl.edu/management/prairie-strips-example-ecosystem-goods-and-services.
A new grant opportunity available from the USDA for small producers, farmers markets, processors and other small businesses and nonprofits is available to fund efforts to keep workers and consumers safe and healthy.
Margaret Milligan, with Buy Fresh Buy Local Nebraska, explains the funding opportunity and eligibility.
Read more: https://cap.unl.edu/rural/apply-now-pandemic-response-and-safety-grant-program.
With the fall run of feeder cattle in the U.S. underway, it’s that time of year for producers to wight the cost of putting on weight against market value and decide between retaining or selling weaned calves. To discuss the this decision and how feed resources and market demand also should be considered in retention decisions, is Elliott Dennis, assistant professor of livestock marketing in the Department of Agricultural Economics here at the University of Nebraska-Lincoln.
Read more at https://cap.unl.edu/livestock/cost-and-value-gain-retained-feeder-cattle-nebraska.
Climate change is projected to make Nebraska hotter and stormier. To discuss the potential implication on Nebraska's what supply, and what could be done to address it, is Dave Aiken, professor and water and agricultural law specialist in the University of Nebraska-Lincoln's Department of Agricultural Economics.
Read more, including a link to a journal article on this topic co-authored by Aiken, at https://cap.unl.edu/policy-legal/climate-change-and-future-nebraska-water-challenges.
In rural communities, it can often seem like the same people are involved in everything. Why does it seem there are no few faces when it comes to helping with community events, membership in community organizations or filling elected positions? Cheryl Burkhart-Kriesel, an extension specialist with Rural Prosperity Nebraska, discusses how communities can reach out to involve new people and better ensure that no barriers exist for involvement.
Read more at https://cap.unl.edu/rural/reaching-out-include-invisible-communities.
On October 12, 2021, the Center for Agricultural Profitability at the University of Nebraska-Lincoln held the first of two webinars focused on the current state and potential growth of the meat processing industry in Nebraska, which focused on financial and legal issues associated with developing a new meat processing plant.
It was presented by Elliott Dennis, assistant professor of livestock marketing and animal health at the University of Nebraska-Lincoln; Charlie McPherson, Center Director with the Nebraska Business Development Center at the University of Nebraska at Omaha; and Dave Aiken, Professor and agricultural and water law specialist at the University of Nebraska-Lincoln.
This episode is a short conversation between these three presenters summarizing the main points discussed in the webinar. The full recording is available to view in the Center for Ag Profitability’s webinar archive on our website, and at cap.unl.edu/processing.
Alongside recent increases in commodity prices, crop producers are experiencing cost of production cost increases, especially when it comes to fertilizer. To discuss strategies producers can use to help profitability next season is Matt Stockton, an agricultural economist and extension specialist here at the University of Nebraska-Lincoln.
Read more in Stockton's analysis at https://cap.unl.edu/crops/fertilizer-prices-forecasted-continue-increase-what-know.
For cattle producers, winter often means deciding whether standing forage can be grazed, or if hay must be fed. Dry conditions can limit winter grazing and drive up the value of the resources that are available. To discuss how winter feed can offer a more affordable, alternative option, and tell us about one tool that the University of Nebraska-Lincoln offers to assist in feed decisions, is Randy Saner, a beef systems extension educator with Nebraska Extension.
Read more: https://cap.unl.edu/livestock/grazing-corn-residue-can-be-economical-winter-feed-source-cows.
Along with the recent rise in commodity prices, producers have seen increasing input prices, illustrating the importance of knowing your operation’s cost of production. To discuss how cost-of-production budgets can assist crop producers in getting a handle on their finances, is Cory Walters, a professor and grain marketing specialist, and Glennis McClure, a farm and ranch management analyst. Both work in the Department of Agricultural Economics at the University of Nebraska-Lincoln.
Read more: https://cap.unl.edu/crops/2022-cost-production-increases-expected-profit-and-navigating-riskier-financial-environment.
With the 2021 harvest season upon us, it’s a good time to start thinking about what our farming operations will look like next year and in the years to come. Two new programs started this year to support both beginning farmers and retiring farmers with the transition to the next generation. Nebraska Land Link is a program matching new and beginning farmers who are seeking land with retiring landowners who do not have a successor. And the Returning to the Farm workshop, beginning December 10th and 11th, will support families brining members back to the farm with developing relationships and business structures for successful transition of the operation.
Nebraska Extension Educator Allan Vyhnalek specializes in farm and ranch succession education and is working with both programs.
Read more at https://cap.unl.edu/succession/new-programs-beginning-and-retiring-farmers.
The University of Nebraska-Lincoln’s 2020 Nebraska Rural Poll found that most rural Nebraskans were financially resilient, with enough savings to cover a possible emergency. But the COVID-19 pandemic has impacted Nebraskans in many ways, including the temporary or permanent closure of businesses, layoffs, and new methods of operating. For more on how some groups of rural Nebraskans have been financially impacted by the pandemic, Becky Vogt, survey research manager for the Nebraska Rural Poll, joins the podcast.
Read more at https://cap.unl.edu/rural/financial-impacts-pandemic-rural-nebraska.
Two current drivers of the fed cattle market are domestic red mean demand and corn prices. With December pre-plant corn prices hovering around 70 cents per bushel higher than the five previous December corn contracts, that means higher feed costs on feedlots. And, even with red meat prices rising at the grocery store, consumer demand continues to be strong, creating incentives to continues placing cattle, even amid concerns about packing plant capacity.
Elliott Dennis, assistant professor of livestock marketing and risk management in the Department of Agricultural Economics, joins to discuss heavier feeder cattle placements and meat processing plant issues.
While President Biden’s proposed Clean Energy Standard is being debated in Congress, it seemed like a good time to review state clean energy policies. Most states have adopted some type of major clean energy policy. Nebraska is among the 11 states that have not adopted a state clean energy policy. Professor Dave Aiken, an agricultural and water specialist in the Department of Agricultural Economics at the University of Nebraska-Lincoln discusses.
More at https://cap.unl.edu/policy-legal/nebraska-clean-energy-policies-0.
In March of this year, one-time federal funding was allotted to communities and counties in the U.S. through the American Rescue Plan Act. The funds are directed for use in pandemic recovery efforts and to help communities become for resilient. They must be used by December 31st, 2026, meaning that community leaders have time to gather input from local citizens about the best use of the funding. To discuss this opportunity that counties and communities have to engage their residents is Marilyn Schlake, an extension educator with Rural Prosperity Nebraska at the University of Nebraska-Lincoln.
Read more: https://cap.unl.edu/rural/engaging-community-members-use-pandemic-relief-funds.
With rising pasture rental rates and potential environmental and economic benefits, converting cropland to perennial grass pastures is an option that should be considered by those looking for an opportunity to diversify their operation. For more on the economic considerations associated with this conversion, Daren Redfearn, professor and forage and crop residue specialist in the Department of Agronomy and Horticulture at UNL, joins the podcast. He has authored a new article on the topic, along with Agricultural Economics professor Jay Parsons, available here: https://cap.unl.edu/crops/economic-considerations-converting-cropland-perennial-grazing-lands.
The latest findings from the USDA National Agricultural Statistics Service indicate that the average value of farm real estate in Nebraska increased by 11% over the prior year, to an average of $3100 per acre. For more on what the NASS report tells us about land values and cash rental rate trends in Nebraska, Jim Jansen, an agricultural economist and extension educator at the University of Nebraska-Lincoln, joins the podcast.
Read more: https://cap.unl.edu/land/usda-reports-rising-land-values-and-county-level-cash-rent-estimates-nebraska-2021.
Several atypical cases of BSE, or Mad Cow Disease, have recently been announced by the government in Brazil.. Elliott Dennis, assistant professor and extension livestock economist in the Department of Agricultural Economics at UNL, discusses what this could mean for the global and U.S. beef markets and cattle producers.
Read more: https://cap.unl.edu/livestock/potential-impacts-brazilian-bse-us-meat-complex.
Wouldn’t it be handy to know how your neighbor seems to keep growing their farm or ranch every year? Or to know exactly how your cost of production compares to others around you? While we may not usually have access to those details, there are resources available to help benchmark your own operation against similar ones, which can help you make better decisions and keep a better hold on your business trajectory.
Glennis McClure, an extension educator and farm and ranch management analyst based in the Department of Agricultural Economics at UNL, explains.
Read more: https://cap.unl.edu/finance/benchmarking-%E2%80%93-what-can-we-learn-others.
A fire at the JBS meat processing plant in Grand Island on September 13th brought to mind a similar fire that occurred at a Tyson facility in Holcomb, Kansas, in 2019. To discuss possible economic impacts of fires like those at the plants in Grand Island and Holcomb is Elliott Dennis, extension livestock economist at the University of Nebraska-Lincoln.
Read more at https://cap.unl.edu/livestock/comparing-grand-island-ne-and-holcomb-ks-meat-processing-plant-fires.
This year’s dry conditions in the western U.S. have resulted in many livestock producers looking for fall and winter forage. To help them find it, the University of Nebraska-Lincoln has developed the Crop Residue Exchange -- an online tool that connects cattle producers to other producers with available grazing resources. Jay Parsons, a professor and extension farm and ranch management specialist in the Department of Agricultural Economics at UNL, tells us more.
Read more: https://cap.unl.edu/livestock/crop-residue-exchange-links-cattle-producers-available-feed-resources
Explore the Crop Residue Exchange: https://cropresidueexchange.unl.edu
When it comes to planning community activities and events, engaging more than just a handful of people – and involving a wide-ranging cross section of individuals -- can seem daunting. But the important step of getting more people involved can ultimately generate more ideas to make the process and the outcome more successful. That’s according to Cheryl Burkhart-Kriesel, an extension specialist with Rural Prosperity Nebraska, who says that “going slow to go fast” in the community planning process can pay big dividends.
Read more at https://cap.unl.edu/rural/go-slow-go-fast-%E2%80%93-real-way-communities-move-forward.
After the decision to form a cooperative organization has been made, it’s time to look at how it should be legally structured and ensure that legal procedures are followed as the co-op begins operating and making policy decisions. The Nebraska Cooperative Development Center at the University of Nebraska-Lincoln works with startup and established cooperatives across the state and recommends engaging legal counsel to help guide this process. For more on what this entails, Cindy Houlden, a Cooperative Development Specialist with the Nebraska Cooperative Development Center, joins the podcast.
Read more: https://cap.unl.edu/rural/legal-questions-ask-when-forming-cooperatives
The Clean Water Act requires a federal permit before landowners can engage in construction activities in lakes, rivers, streams and wetlands so long as the water bodies constitute waters of the U.S. or WOTUS. A recent federal court opinion has invalidated the Trump WOTUS rules.
As ag producers head into fall, big purchase decisions may be ahead, which makes it a great time to assess financial record-keeping on farms and ranches. Keeping digital records with accounting software can make the process smoother but, without proper attention to detail, it is not a foolproof method of record-keeping. To talk about the advantages and important things to keep in mind when it comes to digital record-keeping, Jessica Groskopf, an extension educator and Agricultural Economist with Nebraska Extension, joins the podcast.
Read more: https://cap.unl.edu/finance/keeping-accurate-digital-records
In Nebraska, the number of farmers markets across the state has increased by 35% in the last 10 years to approximately 99 operating statewide, with 77 of those in rural areas. That’s according to Margaret Milligan, with Buy Fresh Buy Local Nebraska, a member-based marketing, promotion and education program that works to connect Nebraskans with local farms and foods. Margaret joins the podcast to discuss how farmers markets can work to contribute to the vitality of rural communities and to tell us about a new project that provides training and support to market organizers while working to raise interest and improve accessibility to markets in rural areas.
Read more: https://cap.unl.edu/rural/rural-farmers-markets-vital-part-rural-identity.
Of the many proposals that could impact farms and ranches being discussed in Washington lately, discussion around the issue of federal estate and transfer taxes has the attention of many in agriculture. For a look at what is being proposed, what we know and don’t know about it and how farmers and ranchers may be impacted, Tina Barrett, a farm financial consultant and director of Nebraska Farm Business, Incorporated, joins the podcast.
Read more in her article at https://cap.unl.edu/policy-legal/2021-federal-estate-and-transfer-tax-law-proposals.
Last year’s edition of the University of Nebraska-Lincoln’s Nebraska Rural Poll examined, among many other things, the financial resilience of rural Nebraskans. Becky Vogt, the rural poll's survey research manager, talks about the results, and how different demographics in rural Nebraska were prepared to face financial uncertainties last year.
Read more at https://cap.unl.edu/rural/financial-resilience-rural-nebraskans.
Professors Larry Van Tassell and Dave Aiken discuss their new article looking at the use of planting cover crops and no-till and reduced tillage practices in Nebraska and surrounding states. They also discuss the concept of additionality, which is mentioned a number of times in the new Growing Climate Solutions Acts, and what it might mean for farmers and ranchers hoping to participate in environmental markets.
Larry Van Tassell is head of the Department of Agricultural Economics and director of the Center for Agricultural Profitability at the University of Nebraska-Lincoln. Dave Aiken is an agricultural law and water specialist with UNL Agricultural Economics.
Read more: https://cap.unl.edu/policy-legal/additionality-and-voluntary-environmental-credit-markets
The Growing Climate Solutions Act recently passed the Senate and, if enacted, would pave the way for farmers and ranchers to more easily participate in voluntary environmental credit markets, such as land or soil carbon sequestration. Some agricultural practices that can typically earn credits in these markets include cover crops and no-till and reduced tillage practices.
Dr. Larry Van Tassell discusses how these three practices — planting cover crops, no-till and reduced tillage — have been used in Nebraska, and how well producers in the state may be positioned to enter carbon markets.
Dr. Van Tassell is a professor and head of the Department of Agricultural Economics at the University of Nebraska-Lincoln. He also serves as director of UNL's Center for Agricultural Profitability.
Read more at https://cap.unl.edu/crops/historical-look-cropping-practices-carbon-sequestration.
On June 24, the U.S. Senate adopted S. 1251, the Growing Climate Solutions Act of 2021. The bill seeks to make it easier for farmers and ranchers to participate in voluntary carbon credit markets, and to get a fair share of the carbon revenue they generate.
Dave Aiken, a professor and water and agricultural law specialist in the Department of Agricultural Economics at the University of Nebraska-Lincoln, discusses what's in the bill, what it could require of USDA and how it could impact farmers and ranchers.
Drought conditions contributing to uncertainty in forage quality, as well as high grain prices, have lowered feedlot demand for feeder cattle in the U.S. What might this mean for prices in the fall? Elliott Dennis, assistant professor in the Department of Agricultural Economics, discusses video auctions, CME Futures and what factors can influence the price of feeder cattle as fall approaches.
As older business and property owners in rural communities retire, the viability of small businesses in these communities can be put at risk. As the number of operating businesses goes down, the value of buildings can decrease, often increasing apathy in the community. However, instead of waiting for traditional developers to come along, real estate investment cooperatives may present an opportunity for community members to take steps themselves to revitalize businesses close to them.
Charlotte Narjes is Associate Director of the Nebraska Cooperative Development Center here at UNL.
Read more on cap.unl.edu or ndcd.unl.edu.
Last year, several pieces of legislation were introduced in Congress, with the principal aim of increasing the level of negotiated cash trade. The cattle industry responded to the proposed legislation by creating a voluntary framework, known as the 75% rule, which includes cattle feeder and packing plant triggers based on levels of negotiated trade and marketplace participation. The overarching objective is similar to the introduced legislation — to increase the frequency and price transparency in all major cattle feeding and packing regions.
Elliott Dennis, assistant professor and livestock economist in the Department of Agricultural Economics at the University of Nebraska-Lincoln, reviews how regions have responded to the requirements set by the voluntary framework, which went into effect on Jan. 1.
More information can be found in an article by Dr. Dennis at cap.unl.edu.
While commodity programs have typically driven discussion around the passage of new farm bills every five or so years, conservation program spending has more recently come closer to the levels of commodity programs. Brad Lubben, extension associate professor and policy specialist at the University of Nebraska-Lincoln, discusses the most recent numbers, the recent headlines about conservation, and the conservation programs available now to producers.
For more, read an article by Dr. Lubben on this topic at cap.unl.edu.
In many businesses, regular meetings can improve communication and streamline the decision-making process, keeping everyone in management and operations on the same page. But many farm and ranch businesses are not using this tool.
Jessica Groskopf, an agricultural economist with Nebraska Extension, discusses how to go about planning for and running meetings so that an operation can make the most of this important communication method.
Read more at cap.unl.edu.
Cheryl Burkhart-Kriesel is an extension specialist with Rural Prosperity Nebraska.
Setting goals mid-year, THIS year, could be perfect timing to take advantage of all the changes that are taking place. These goals could be for you individually, for a group or business or even for a community. Regardless of where the goals are targeted, there are some helpful guidelines to remember when you establish and ultimately implement them.
Read more about this in a an article by Dr. Burkhart-Kriesel on cap.unl.edu.
Many use the terms “farm estate planning” and “farm transition planning” interchangeably, but there are important distinctions to consider. Allan Vyhnalek, an extension educator for farm and ranch transition and succession, discusses planning for farm and ranch transition and modern considerations for what families and ag businesses as they go through this important process.
Read more in Vyhnalek's recent article on the topic at cap.unl.edu.
While high levels of price volatility in a rising market enhance the emotion associated with the grain marketing decision, price volatility also brings opportunity. Taking advantage of the opportunity requires discipline in the marketing decision. Jessica Groskopf and Cory Walters highlight the role of expected revenue in relation to production costs in making the grain marketing decision as well as the creation and importance of your farm’s average selling price.
Read more in their article at cap.unl.edu.
Growing a farm or ranch business goes beyond producing the most bushels or pounds. Operators who are profitable are more likely to control the fate of their business and achieve longevity through a balanced management approach. But this requires discipline and knowledge, according to Matt Stockton, an agricultural economist with Nebraska Extension, based at the West Central Research Extension and Education Center in North Platte.
Marilyn Schlake, an extension educator with Rural Prosperity Nebraska and Nebraska Extension, discusses how rural communities can evaluate their own strengths and weaknesses to best equip themselves for the future.
Read more at https://cap.unl.edu.
The volatility in grain prices, coupled with recent natural disasters that have impacted yield and prices, illustrate the importance of considering financially devastating outcomes and having effective risk management strategies in place to avoid them. Kara Zimmerman, a master’s student in the Department of Agricultural Economics at the University of Nebraska-Lincoln, recently defended her thesis that studies the impacts of crop insurance and intra-season hedging on long-run net income risk. She also co-authored a new article summarizing her findings, up on our Farm and Ranch Management website, farm.unl.edu.
After a cooperative grocery has been successfully organized and opened, the next step is ensuring smooth operations. Boards of directors at cooperatives can often times find themselves struggling to identify the basic questions they need to answer to help the co-op be successful — especially if they have limited business experience. The Nebraska Cooperative Development Center here at UNL offers trainings for cooperative boards, which includes addressing questions about how different co-ops should be managed, what policies are necessary to direct cooperatives and more.
Cindy Houlden, a cooperative development specialist with the Nebraska Cooperative Development Center at UNL discusses.
Read more in Houlden's new article at ncdc.unl.edu.
Ag carbon contracts are getting a lot of interest among farmers and ranchers. But what do they actually say and how much can a farmer actually earn? Joining to discuss what to look for and expect in carbon contracts is Dave Aiken, a professor in the Department of Agricultural Economics at UNL.
When it comes time to harvest fields, there are different arrangements across Nebraska. Many farmers and landlords turn to custom operators. The University of Nebraska-Lincoln’s Custom Rates report provides market rate information on many kinds of custom work performed across the state. Glennis McClure, a farm and ranch management analyst at UNL, discusses setting harvest rates, calculating field operation costs and UNL's new Ag Budget Calculator can help.
For more, read McClure's article on farm.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.
The authors of a new report of the potential economic impact of expanding dairy processing in Nebraska presented their findings in an hourlong webinar on June 17, 2021. In this special recap episode, they summarize the presentation and report, with additional observations.
To view the webinar recording or read their report, visit farm.unl.edu.
Applications for the Annual Forage Insurance Program are due by July 15th. With forecasts calling for a dry period that could stretch into late fall, both crop and livestock producers who are considering the benefits of annual forages may look to the program as a means of managing the precipitation risk that comes with planting. Plus, changes to the program to benefit winter wheat producers.
Jay Parsons is a professor and farm and ranch management specialist in the Department of Agricultural Economics at the University of Nebraska-Lincoln. For more, read his article on this topic at farm.unl.edu.
Becky Vogt is the Survey Research Manager with the University of Nebraska-Lincoln's Rural Poll.
With nearly one half of Nebraska farms running some kind of livestock or poultry operation, animal agriculture continues to play a critical role in the state’s economy. The University of Nebraska-Lincoln’s 2020 Nebraska Rural Poll examined rural Nebraskans’ connection to animal agriculture, along with their thoughts on the Nebraska Department of Agriculture’s Livestock Friendly County Designation.
Read the related article on farm.unl.edu.
John Westra is a professor and program leader in the Department of Agricultural Economics at the University of Nebraska-Lincoln.
Many have heard a lot lately about carbon markets, but carbon sequestration is only one of a larger set of ecosystem goods and services that can be generated in agriculture. Westra discusses other kinds of agricultural practices that can have a positive impact on humans and the planet. He also discusses the development of markets around these ecosystem goods and services.
Jim Jansen is an agricultural economist and extension educator with the University of Nebraska-Lincoln.
The value of non-irrigated cropland in the central Plains region of the U.S. rose between an average of 5 and 10 percent in the first quarter of this year, compared to 2020, according to the Federal Reserve Bank of Kansas City. Jansen covers the reasons behind this and what he expects for the rest of 2021.
Fore more, read Jansen's latest article on the subject at farm.unl.edu.
Erin Borror is an economist with the U.S. Meat Export Federation. Elliott Dennis is an assistant professor and livestock economist in the Department of Agricultural Economics at the University of Nebraska-Lincoln.
They recap a June 3 webinar that Borror presented on the global demand for U.S. red meat, how exports are impacting livestock and meat markets and how the COVID-19 pandemic has impacted U.S. meat exports.
Watch the full webinar on farm.unl.edu.
Dave Aiken is a professor and agricultural law and water specialist in the Department of Agricultural Economics at the University of Nebraska-Lincoln.
President Biden has proposed that 30% of U.S. land should be conserved by 2030 — the so-called "30x30 plan." The "Conserving and Restoring America the Beautiful" report, issued in May, identified early actions that could be taken to approach this goal and noted that only 12% of U.S. land is currently permanently protected for conservation purposes. Aiken discusses the plan, the pushback it has received from some agricultural groups and what could happen next.
Read his article on the topic here on farm.unl.edu.
Elliott Dennis is an assistant professor and livestock economist in the Department of Agricultural Economics at the University of Nebraska-Lincoln.
The monthly Cattle on Feed Report, produced by the USDA’s National Agricultural Statistics Service, provides data on the number of cattle and calves on feed, placements, marketing, and other disappearance. Dr. Dennis explains some common critical and supportive opinions of the Cattle on Feed Report’s usefulness and its implications for risk management strategies, as well as what the industry can gain from the report.
Cindy Houlden is a cooperative development specialist with the Nebraska Cooperative Development Center at the University of Nebraska-Lincoln.
On the surface, a cooperative grocery store may look no different from any local market, with aisles of food, perishable departments and checkout registers. But, behind the scenes, cooperatives are not run like a typical grocery store. They are owned and controlled by their users, who, in turn, benefit from keeping the business running. Houlden explains how co-ops function as well as their benefits to members and the community.
Her article on the subject is available here.
Cory Walters is a grain marketing specialist and Jessica Groskopf is an agricultural economist. Both are with the University of Nebraska-Lincoln.
Given the high levels of commodity prices write now, what should a good marketing plan look like to ensure farm survival? F
Farmers have seen volatile markets and upward moving prices in the past. However, the 2021 commodity marketing environment is not one we have experienced recently. As the U.S. farm economy comes out of an extended period of low prices, farmers are feeling the pressure to lock in higher prices but are hesitant as they do not want to miss the market high by pricing too early.
So, how can you make decisions about pricing new crop grain that you can feel comfortable with? There are two elements we want to highlight that we believe can assist in the pricing decision. First, you need to have a reasonable understanding of forces driving the market and potential impacts. Second, you need to have well defined farm goals and objectives.
Read the article at farm.unl.edu.
Cheryl Burkhart-Kriesel is an extension specialist with Rural Prosperity Nebraska.
When it comes to the important work of recruiting new residents to move to rural communities, the people who currently live there have an essential role to play in telling the local story, even though they may not realize how important their personal networks are.
Find out more in her article on the subject at farm.unl.edu.
Cheryl Burkhart Kriesel is an extension specialist with Rural Prosperity Nebraska.
When it comes to the important work of recruiting new residents to move to rural communities, the people who currently live there have an essential role to play in telling the local story, even though they may not realize how important their personal networks are.
Jessica Groskopf is an agricultural economist with Nebraska Extension, based in the state's Panhandle region.
An important step in the record-keeping process and one that shouldn’t be skipped is reconciling. The process is worth the time to ensure that all records associated with a financial account are consistent with each other. Groskopf explains reconciliation and its importance in farm and ranch record-keeping.
For more, check out her article on the topic on farm.unl.edu.
Tina Barrett is a farm financial consultant and director of Nebraska Farm Business, Inc.
With so many things constantly changing for farm producers, it is important to be prepared to make decisions. Barrett offers tips for farmers and ranchers and discusses what they should be paying attention to right now to best prepare to make quality decisions quickly.
With Brad Lubben, associate professor and extension policy specialist, Department of Agricultural Economics, University of Nebraska-Lincoln.
As commodity prices have risen in recent months, so have farm income expectations, driven by these rebounds in market prices as well as recent government assistance paid to cover losses associated with weather disasters, trade conflicts and COVID-19 disruptions. A new article on our website, farm.unl.edu, offers analysis of farm income and safety net programs to provide insight on the current ag economy and potential directions for ag policy and farm economics.
Elliott Dennis is an assistant professor of livestock marketing in the Department of Agricultural Economics at the University of Nebraska-Lincoln.
Approximately 35 percent of the total land area in the continental U.S. is used for livestock grazing. Fluctuations in grazed land areas and cow herd density can be seen across the diverse regions of the country’s geography, with beef cow herds tended to follow cheap and nutrient-rich forage. So what are the implications of forage production, beef cow herds and stocking density when it comes to the possibility of partially liquidating herds due to drought?
With Dave Aiken, professor and agricultural law and water specialist, Department of Agricultural Economics, University of Nebraska-Lincoln.
Aiken provides an overview of the types of problem-solving courts, how they function as alternatives to jail time and what how their cost compares to incarcerating alleged offenders.
With: Brad Lubben, Nebraska Extension Policy Specialist, and Cathy Anderson, Nebraska USDA Farm Service Agency Production and Compliance Section Chief.
Farmers and ranchers may have heard of the Pandemic Assistance for Producers Initiative, the American Rescue Act Plan and the Coronavirus Food Assistance Program. All have been in the news, but what do each of them mean for Nebraska’s producers? UNL’s Brad Lubben along with the Nebraska USDA Farm Service Agency’s (FSA) Cathy Anderson will provide an overview of each and give direction for farmers and ranchers regarding the current open application period for the Coronavirus Food Assistance Program (CFAP) 2 at FSA offices across the state.
Charalampos Mavroutsikos is a Postdoctoral Research Associate in the Department of Agricultural Economics at the University of Nebraska-Lincoln. He is one of the authors of a new study looking at the role of premium subsidies in crop insurance, focusing on government objectives and producer attitudes. He discusses the history of crop insurance, the study’s findings and a proposed alternative design of premium subsidies that can achieve government’s stated goal of increasing producer participation. A new article summarizing the study, as well as a link to the full publication, are available now at https://farm.unl.edu/role-premium-subsidies-crop-insurance/04272021-1446.
On April 22nd, the U.S. Small Business Administration released guidelines for the Restaurant Revitalization Fund (RFF), a fund that is part of the American Rescue Plan Act of 2021. The Act appropriated $28.6 billion dollars for restaurant industry focused funds. Recipients do not need to repay the awarded funds as long as the monies are used for eligible expenses by March 11, 2023.
Rural Prosperity Nebraska Extension Educators Jason Tuller and Marilyn Schlake discuss the funding opportunity and what businesses should do to prepare.
Allan Vyhnalek is Nebraska Extension's educator for farm and ranch succession and transition.
With spring planting season upon us, many farmers are in a hurry and may be stressed, busy and short on sleep, which means family members and co-workers can get short with each other. Vyhnalek discusses some best practices to use when disagreements arise on the farm — namely, the seemingly simple act of saying “I’m Sorry.”
Nick Streff, director of the USDA NASS Northern Plains Regional Field Office, and Elliott Dennis, assistant professor of livestock marketing in UNL's Department of Agricultural Economics, recap their April 29, 2021, webinar on USDA NASS Cattle Reports and how producers can put them to use.
View the full webinar at https://farm.unl.edu/webinars.
Becky Vogt is the survey research manager for the Nebraska Rural Poll at the University of Nebraska-Lincoln.
She discusses findings of the 2020 rural poll, which asked rural Nebraskans to evaluate the resilience of their communities, and how that relates to individual well-being.
Jay Parsons is a professor and farm and ranch management specialist in the Department of Agricultural Economics at the University of Nebraska-Lincoln.
For agricultural producers, decision-making plays an important and everyday role in the operation. Making decisions in such a dynamic industry that includes uncertainties such as weather, government policies, and competing short- and long-term objectives, illustrates the benefits for farmers and ranchers to develop proactive, consistent decision-making skills designed to produce the desired outcomes.
Wheat is just emerging from dormancy and growers are getting their first look at how the crop faired through the winter months. Wheat fields planted behind fallow emerged in the fall and have established well. Depleted soil water and dry conditions have slowed wheat emergence in fields that have been continuously cropped.
With: Dave Petersen, Area Claims Manager, Rural Community Insurance Services Katherine Frels, Assistant Professor, UNL Agronomy & Horticulture Cory Walters, Associate Professor and Grain Economist, UNL Agricultural Economics.
Glennis McClure is an extension educator and farm and ranch management analyst in the Department of Agricultural Economics at the University of Nebraska-Lincoln.
Commodity prices have risen over the last several months, and so have major input expenses, such as fuel, fertilizer, and even the price of pesticides. When crop prices rise, profits do not always follow incrementally. The whole enterprise picture must be brought into focus, accounting for input price and expense adjustments that may offset gains on the revenue side of the budgets. Staying current with cost of production and breakeven estimates using enterprise budgeting provides information that is useful when making management decisions such as input selection, production considerations or marketing the crop.
Daniela Mattos is an assistant professor of practice here the Department of Agricultural Economics, and the chair of the Rural Economic and Community Vitality Program at the University of Nebraska-Lincoln.
An opportunity for rural community leaders, professionals and citizens alike to learn about economic and community development tools and strategies is now available here in UNL’s Department of Agricultural Economics. The Rural Economic and Community Vitality graduate certificate is an online, 12 credit hour program that works to equip its students with the knowledge to understand rural communities and the issues they are facing, while preparing them to participate in constructive community affairs.
Austin Duerfeldt is an extension educator and agricultural economist based in the southeast region of the state.
While it’s not practical or possible for every farm to purchase more ground or rent additional acres, it is possible for every operation to look at ways to be more efficient with what they currently have. Many times, increases in efficiency will lead to greater profitability and more opportunity for growth. But where should you start looking for places to become more efficient? Working to reduce waste is a great place to start.
Enterprise budget templates were recently updated for producers’ use to estimate sheep and goat revenue and expenses and consider projected breakeven scenarios. Using a west central Nebraska representative sheep flock with 250 ewes and a 70 head meat goat herd, the budgets are prepared for producers to use as guides when entering their own information using an Excel spreadsheet format.
Extension educators Glennis McClure and Randy Saner discuss how the budgets came together and why they are useful for producers.
Jim Jansen is an agricultural economist with Nebraska Extension, and co-author of the annual Nebraska Farm Real Estate Report.
Nebraska contains over 45 million acres of agricultural land used as cropland, grazing land, hayland and more. About 56% of that ag land in the state is owned by farmers and rancher, while absentee landowners own the remaining 46%, which equates to nearly 20 million acres that are leased out. A new report from the USDA’s Economic Research Service shows that, nationally, the majority of these absentee landowners who are non-operators — who typically cash rent their land to operators — live within about 50 miles of their land. Jansen discusses more about the characteristics of landownership in Nebraska and across the country, and why understanding them is important to both owners and operators.
Dr. Cheryl Burkhart-Kriesel is a Nebraska Extension educator with Rural Prosperity Nebraska.
One byproduct of the COVID-19 pandemic has been the growth of remote work. And, for the people that can work anywhere, that also may mean they can live anywhere. For rural communities, where population loss is often an issue, this may present an opportunity to attract new residents – that is if these communities can effectively market their potential.
John Westra is a professor and program leader in the Department of Agricultural Economics at the University of Nebraska-Lincoln.
Reducing carbon emissions has become a central focus in addressing environmental and sustainability goals for governments and many private sector industries. That means agriculture producers and landowners may have decisions to make if they are approached about carbon payment plans or carbon markets. This raises many new questions for farmers and ranchers who should consider how practices associated with generating carbon credits will impact their operation.
With Katie Samples Dean, attorney, and Paul Neiffer, CPA Proposed changes to capital gains have farmers and ranchers wondering what it means for passing their operations to the next generation.
Katie Samples Dean, an attorney specializing in agricultural law, and Paul Neiffer, a Certified Public Accountant, will discuss the proposals and potential impacts as it relates to farm estate and transition planning.
Developing operating policies for a farm business can be time consuming and inconvenient. The easy thing to do may be to leave policies to chance. But this can run the risk of creating confusion and dissatisfaction for farm employees. And it can be costly for operators.
To discuss more about farm business policies, how they can be beneficial and how to go about creating them, is Larry Van Tassel, professor and head of the Department of Agricultural Economics at UNL.
Dave Aiken is a professor and water and agricultural law specialist in the Department of Agricultural Economics here at UNL.
He looks at an issue that is really making its way on the radar of many producers across Nebraska – that’s Carbon Markets and Carbon banks. He discusses the ag practices that hold the greatest potential, who is buying carbon offsets, voluntary vs. regular carbon markets and more.
Elliott Dennis is an assistant professor and livestock economist in the Department of Agricultural Economics at the University of Nebraska-Lincoln.
He discusses what the USDA-NASS Quarterly Hogs and Pigs report can tell us about production, as well as some new tools coming to assist producers in utilizing that data in their operations.
With Margaret Milligan, program associate, Buy Fresh Buy Local Nebraska
Think of a Community Supported Agriculture (CSA) as a farm subscription program. Traditionally, consumers purchase “shares” of the farm in the late winter and early spring, then their investment is returned to them throughout the season in the form of a weekly “share” of farm products – usually a box or bag packed with seasonal vegetables, fruits, herbs, eggs and value-added products.
This arrangement allows farms to secure cash in the traditionally lean times of late winter and early spring and means more overall stability in their business plan. CSA retention rates are generally quite high, meaning people tend to support the farm year after year. As restaurant sales vanished during the pandemic, and farmers’ market sales decreased following the overall trend of lower attendance, CSAs attracted more interest from consumers interested in safely sourced reliable food. In 2020 many CSAs adapted by offering contact-free pickup, or home delivery, as well as online ordering.
Nick Streff, USDA NASS, and Elliott Dennis, UNL Agricultural Economics, recap their March 25 webinar on the use of NASS hog reports.
Nick Streff is the Director of the USDA NASS Northern Plains Regional Field Office in Lincoln NE. Nick oversees data collection, analysis and publication of NASS estimates for the state’s of North Dakota, South Dakota, Nebraska and Kansas. Prior to moving to Nebraska, Nick was the hogs and pigs statistician for USDA NASS. Nick will be taking us through an in depth look of the NASS hogs and pigs program. See the full webinar at https://farm.unl.edu/webinars.
For farmers and ranchers, both cash flow and profitability are important. But, equally important, is an understanding of the distinctions between the two. Tina Barrett is a financial consultant and director of Nebraska Farm Business, Incorporated., which started in 1976 as part of Nebraska Extension, and works with producers from across the state to provide financial and management assistance.
Refinancing can get a bad rap, but it may be beneficial for farmers and ranchers. Jessica Groskopf, Nebraska Extension Educator and Panhandle Regional Economist, discusses the potential benefits and drawbacks of refinancing, how it impacts your balance sheet and what a banker is looking at when discussing refinancing.
Marilyn Schlake is an extension educator with the Department of Agricultural Economics and Rural Prosperity Nebraska at the University of Nebraska-Lincoln.
She discusses how Gallup's Builder Profile 10 (BP10) training can be applied to helping individuals in rural communities realize their talents and come together to pursue common goals.
With: Jim Jansen, Agricultural Systems Economist, Nebraska Extension
The Nebraska Farm Real Estate Market Highlights 2020-21 report represents the 43rd edition to the annual series. These reports provide an important insight on agricultural land market dynamics for stakeholders across Nebraska. In today’s market, where market transactions exceeding $1 million dollars are the norm, objective market information and analysis is more critical than ever. The focus of the report continues to be on providing unbiased information for agricultural land values and rental rates so industry participants can make educated and informed decisions.
This webinar will present the preliminary results from this year’s real estate survey of expert panel members from across the state. The full report will be released in June 2021.
Dr. Cory Walters is an associate professor and grain economist in the Department of Agricultural Economics at the University of Nebraska-Lincoln. He discusses recently released price projections for crop insurance and how producers can prepare for possibly unfavorable fall commodity prices.
Dr. Cory Walters, associate professor and grain economist in the Department of Agricultural Economics, discusses why participation in the new ECO depends upon producer goals and objectives.
Cindy Houlden, cooperative development specialist with the Nebraska Cooperative Development Center at the University of Nebraska-Lincoln, discusses this year's round of mini grants awarded to cooperative enterprises in five rural communities across the state, and how and why the Center works to help rural communities prospers.
With: Austin Duerfeldt, southeast regional agricultural economist, Nebraska Extension.
The webinar is a refresher for those new to or wising to brush up on ag exemptions from state sales tax. It will cover the regulations set forth in 2014 legislation, many providing perspective from the side of the consumer farmer/rancher. Agricultural exemptions, auctions and occasional sales will be covered. This is the third in a monthly series of webinars geared toward helping agricultural producers better understand their finances.
Dave Aiken is a professor and water and agricultural law specialist in the Department of Agricultural Economics at the University of Nebraska-Lincoln.
He discusses the Biden administration's climate goals, how a clean energy program might work and benefit the stability of the country's power grid, and why this is an important issue for farmers and ranchers in Nebraska.
Dr. Elliott Dennis is an assistant professor and livestock marketing economist in the Department of Agricultural Economics at the University of Nebraska-Lincoln. He discusses cattle delivery in Nebraska and other regions, its relationship to basis and the strengths and weaknesses of the modern stockyard delivery system.
Becky Vogt, Survey Research Manager with the Nebraska Rural Poll, discusses the history and impact of the survey and new questions for the 2021 poll, soon to be distributed.
Now in its 26th year, the Nebraska Rural Poll is an annual survey of rural Nebraskans, conducted by the Department of Agricultural Economics here at UNL, in partnership with Rural Prosperity Nebraska and Nebraska Extension. You can find it on the web at ruralpoll.unl.edu.
With: Brad Lubben, extension policy specialist, UNL; Cory Walters, extension grain marketing specialist, UNL; and Jessica Groskopf, agricultural systems economist, UNL.
The webinar will focus on the role of farm programs, crop insurance (including the new Enhanced Coverage Option (ECO) and marketing for the 2021 crop production year. We will discuss newly finalized crop insurance price information for 2021, as well as marketing strategies and the factors that may impact ARC and PLC programs in the coming year.
With: Allan Vyhnalek, Nebraska Extension Educator for Farm and Ranch Succession.
The first session of this two-part series on succession and estate planning will focus on why farmers and ranchers do not like to plan, how to avoid the “circle of inaction," and other roadblocks to starting the process — presented so you can be prepared to overcome them. The importance of family communication will also be discussed, along with strategies for working together to script a successful transition plan
With: Jessica Groskopf, extension educator and agricultural economist; Glennis McClure, extension educator and farm and ranch management analyst; Aaron Berger, extension educator for beef systems; Austin Duerfeldt, extension educator and agricultural economist; and Tina Barrett, program manager, Nebraska Farm Business, Inc.
This is the second in a series of webinars to assist farmer and ranchers to better understand their financial positions. Sessions will be held from noon to 1 p.m. Central on the second Thursday of each month, through May, and offer education on financial statements, rations, record keeping and understanding the cost of production.
This month will focus on managing costs of production, including where to find cost-of-production information, characteristics of profitable operations and areas to reduce costs without sacrificing productivity.
With Elliott Dennis, assistant professor of livestock marketing at the University of Nebraska-Lincoln; James Mitchell, assistant professor of livestock marketing and management, University of Arkansas; Brian Vander Ley, assistant professor and veterinary epidemiologist, University of Nebraska-Lincoln.
USDA-APHIS has recently closed its comment period on a potentially new policy on animal ID and traceability. We will review this policy, how it impacts producers, and how much buyers are willing to pay, and how much sellers require to be compensated for a voluntary traceability program.
A brief discussion highlights the points that were made during the hourlong webinar. Watch the entire presentation at farm.unl.edu/webinars.
With Elliott Dennis, assistant professor of livestock marketing at the University of Nebraska-Lincoln; Tom Brink, CEO of the Red Angus Association of America; and Andrew Dorn, Global Product Marketing Manager at Allflex Livestock Intelligence.
Consumers are desiring more information about how their food is produced. Having livestock participate in an approved certification program is one way to capture additional value at the time of sale. We will review the historical financial performance of commonly used livestock programs and talk about current and future programs producers can potentially participate in to continue to add value back to their operations.
With Dave Aiken, Professor and Water and Agricultural Law Specialist, UNL Agricultural Economics, and Rick Stowell, Animal Environment Extension Specialist, UNL Animal Science.
In a recent Nebraska Supreme Court decision, Egan v. County of Lancaster, the court ruled that a county zoning permit for three poultry barns was justified in part because neighbors would be free of objectionable odors 94% of the time. This webinar explores this decision and the potential role of the odor footprint tool in future livestock nuisance litigation.
With Dallas Zimbelman, branch manager, Archer Credit Union; Tara Janda, Financial Services Officer, Farm Credit Services of America; Jessica Groskopf, panhandle regional economist, UNL; Austin Duerfeldt, southeast regional economist, UNL.
This is the first in a series of webinars to assist farmers and ranchers to better understand their financial positions. Sessions will be held from noon to 1 p.m. Central on the second Thursday of each month, through May, and offer education on financial statements, ratios, record keeping, understanding cost of production and more.
This month will focus on balance sheets and cash flows, including details on how to value assets and inventory, refinancing, correcting negative working capital, monthly vs. annual cash flow, operating loans and more.
With Brad Lubben, extension policy specialist, University of Nebraska-Lincoln, and Cathy Anderson, production and compliance programs chief, USDA Farm Service Agency - Nebraska.
As the calendar turns to 2021, agricultural producers and professionals are preparing for a new Administration in Washington, new leadership on the agricultural committees in Congress, and new directions for farm policy and farm program decisions. This webinar will update farm program information and highlight the new program decisions in 2021 for producers. Then, the discussion will focus on several key policy issues in light of the changing policy landscape in DC and the implications for agriculture. Cathy Anderson from the Nebraska Farm Service Agency and Brad Lubben from UNL Department of Agricultural Economics will present the webinar and share information relevant for producers, ag professionals, and ag stakeholders.
With Tina Barrett, director, Nebraska Farm Business, Inc. As farmers and ranchers prepare to file 2020 taxes, new updates to tax law in 2020 are important to be aware of. Tina Barrett will summarize these changes, including the many new considerations under the CARES Act, and discuss how they impact tax returns for the year.
With:
- John Hewlett, ranch/farm management specialist, University of Wyoming
- Jay Parsons, professor and farm and ranch management specialist, University of Nebraska-Lincoln
Evaluating risk management alternatives can be challenging, especially without the right tools. The RightRisk Education Team has been working for nearly 20 years to develop the right tools to assist managers of agricultural operations to make the best decisions, even when the information at hand is incomplete or difficult to interpret. The team has built numerous tools to assist managers to sift through the information available and alternative management strategies to identify those that have the best chance of moving them and their operation towards their goals. This presentation will explore the tools currently available and the general approach followed for each. Specific decision examples will be demonstrated including a look at the effect LRP insurance can have on projected revenue.
With:
- Brad Lubben, University of Nebraska-Lincoln and the North Central Extension Risk Management Education Center
- Greg Ibach, USDA Under Secretary for Marketing and Regulatory Programs
- Bill Northey, USDA Under Secretary for Farm Production and Conservation
- Shannon Neibergs, Washington State University and the Western Extension Risk Management and Education Center
- Elliott Dennis, University of Nebraska-Lincoln
- Brandon Willis, Ranchers Insurance (Utah) and Former USDA Risk Management Agency Administrator
Recent developments and attention to livestock markets, price risk, and the need for better risk management have highlighted the challenges for producers as well as improved tools and opportunities for livestock producers to manage risk. The webinar includes an overview of current livestock market and risk management issues with two of the Under Secretaries at USDA, Greg Ibach and Bill Northey. It also includes a panel discussing livestock economics and marketing as well as the utilization of insurance tools including Livestock Risk Protection to manage price risk.
With: Mark Jensen, president and CEO of Farm Credit Services of America Ben Herink, farm loan manager with the USDA Farm Service Agency Ken Mehlin, executive vice president and chief credit officer of Bruning Bank Daryl Wilton, executive vice president and chief credit officer of Cornerstone Bank in York With wide swings in the stock market, employment, GDP and other economic indicators, 2020 may be one of the most volatile years since the Great Depression. This panel discussion will focus on how farm lending has changed in 2020 and what agricultural lenders who provide credit to Nebraska producers anticipate going forward.
With Dave Aiken, professor and extension water and agricultural law specialist in the Department of Agricultural Economics.
Aiken explains each of the six initiatives facing voters, along with the positions of both proponents and opponents of each issue and what the potential impact of each issue could be, especially on property taxes.
Measures on the Nov. 3 ballot that will be discussed include two proposed constitutional amendments: one that would eliminate slavery or involuntary servitude as punishment of a crime and another that would extend the maximum time for tax increment financing for redevelopment projects in cities and villages from 15 to 20 years if at least half the project area is extremely blighted. Ballot initiatives that will be covered include a proposal to reduce payday loan charges, and a trio of proposals centered around allowing and regulating casino gambling.
Tina Barrett is a farm financial consultant and director of Nebraska Farm Business, Inc., which provides financial analysis, business planning and tax services to over 400 farm and ranch businesses across the state. She reviews the current financial positions of farms included in Nebraska Farm Business’s annual farm averages report, looking at net income, cost of production, debt and net worth, and what these numbers reveal about the variability among operations and outlook going forward.
With Brad Lubben, associate professor and extension policy specialist, Department of Agricultural Economics, University of Nebraska-Lincoln.
Farm program payments are a significant part of the bottom line for farmers and ranchers in 2020, whether from existing commodity programs, agricultural disaster assistance, or trade and COVID-19 relief. This session will review current program details and projections, including ARC and PLC payments due to producers in October (for the 2019 crop year). A broader outlook for farm income based on national projections from USDA in early September and state-level analysis will provide a baseline for economic outlook and farm policy issues and decisions moving forward.
With Dave Aiken, professor and agricultural law specialist, Department of Agricultural Economics.
The 2020 Unicameral at the last minute provided property tax relief of around 6% for most property owners. Learn how this happened and how to estimate your “property tax refund” that you could get next year.
With Brad Lubben, associate professor and policy specialist, Department of Agricultural Economics; Jeffrey Stokes, professor and Hanson-Clegg-Allen Chair in Agricultural Banking and Finance, Department of Agricultural Economics; and Eric Thompson, Karl H. Nelson Associate Professor of Economics and director of the Bureau of Business Research at the University of Nebraska-Lincoln.
Nebraska’s total net farm income is a little over 5% of the state’s total personal income on average. Those percentages rank Nebraska third highest of the 50 states and the highest percentage for any state with a population over 1 million.
This study is a joint collaborative effort of the Department of Agricultural Economics and the Bureau of Business Research within the Department of Economics and funded internally by the Institute of Agricultural and Natural Resources (IANR) of the University of Nebraska–Lincoln. It draws on substantial expertise in key issues affecting agriculture such as irrigation, natural resources, the agricultural equipment industry, and community economic development.
Read the full report at agecon.unl.edu/agimpact.
With Jay Rempe, senior economist, Nebraska Farm Bureau.
Over the past year, events have rocked the cattle industry and drove to the surface long-standing questions concerning the cattle markets and market structure. These concerns resulted in numerous policy proposals being offered in Washington D.C. In response, the Nebraska Farm Bureau created a Task Force of cattle producers to study current cattle markets and offer policy suggestions and recommendations. Rempe will discuss the recent market events, responses by producers, and the Task Force work and recommendations, and what it learned along the way about Nebraska’s cattle industry relative to the rest of the country.
With Jim Jansen and Austin Duerfeldt, extension agricultural economists, and Allan Vyhnalek, extension educator for farm and ranch succession, Department of Agricultural Economics. From Sept. 10, 2020.
This workshop will prepare landowners and tenants for 2021 by offering information and analysis on cash rental rates, flexible leasing, landlord/tenant communication, farm succession and utilizing USDA programs. The webinar is being held in lieu of the traditional in-person land management meetings that are typically held across the state this time of year. The team will present on current cash rental rates, innovative strategies for setting equitable leases and strategic planning for uncertainty due to price volatility in the markets.
More resources at https://farm.unl.edu/farmland-trends-and-lease-considerations-2021-sept-10-2020-webinar.
With Elliott Dennis, assistant professor of livestock marketing and risk management, Department of Agricultural Economics. From Sept. 3, 2020.
This webinar will discuss the factors going into cow-calf producer decisions on whether to retain cattle to feedlots or keep cattle for backgrounding.
More resources at https://farm.unl.edu/ownership-retention-decisions-market-willing-pay-sept-3-2020-webinar.
With Allan Vyhnalek, extension educator for farm and ranch succession, Department of Agricultural Economics. From Aug. 27, 2020.
When those who are closest to us are also our business partners, things can get complicated. But planning and decision-making can go more smoothly with improved communications. Successful farm and ranch transitions depend on meaningful family discussions and even negotiations. This webinar will highlight specific skills and ideas that will help with these conversations. Tips and common traps of negotiations will be covered as well.
More resources at: https://farm.unl.edu/successful-ag-succession-communications-and-negotiation-aug-27-2020-webinar.
With Allan Vyhnalek, extension educator for farm and ranch succession, and Dave Aiken, professor and ag law specialist, Department of Agricultural Economics. From Aug. 20, 2020.
For many producers, the ongoing coronavirus pandemic highlights the importance of planning for their families and their operations should they not be able to speak for themselves. The webinar covers powers of attorney, health care directives and end-of-life decision-making considerations.
More resources at: https://farm.unl.edu/business-and-health-care-powers-attorney-aug-20-2020-webinar.
With Jessica Groskopf, agricultural economist, Robert Tigner, agricultural economist and Cory Walters, grain marketing specialist, Department of Agricultural Economics. From Aug. 13, 2020.
The monthly USDA World Agriculture Supply and Demand Estimate (WASDE) Report summarizes current USDA information for several major commodities into a supply and demand balance sheet. The August WASDE report is the first report of the year to show crop production data collected from farm operations and field observations. In this webinar, we will take an in-depth look at the August WASDE and discuss strategies for grain marketing for the remainder of 2020.
More resources at https://farm.unl.edu/marketing-corn-and-soybeans-after-august-wasde-report-aug-13-2020-webinar.
With Jim Jansen, extension educator and agricultural economist, Department of Agricultural Economics. From July 16, 2020.
Nebraska agricultural land values increased by 3% over the last year, to a statewide average of $2,725 per acre, according to the final results of the University of Nebraska-Lincoln’s 2020 Farm Real Estate Report. This marks the first annual increase since land values in the state peaked at $3,315 per acre in 2014.
Survey participants reported that 1031 tax exchanges, non-farmer investor interest in land purchases and current interest rate levels contributed to higher market values. These forces were reported as slightly positive in impacting future land values prior to the domestic outbreak of COVID-19.
This webinar will provide an overview of 2020 land values, trends and outlook.
More resources at https://farm.unl.edu/2020-nebraska-farm-real-estate-report-july-16-2020-webinar.
With Robert Tigner, agricultural economist, Jessica Groskopf, agricultural economist, and Cory Walters, grain marketing specialist, Department of Agricultural Economics. From June 11, 2020.
COVID-19, the oil price collapse and world-wide lockdowns have caused a challenging economic environment for farmers. The marketing challenge may increase as the growing season progresses. Farmers can meet the challenge through a consistent marketing approach that reduces risk and tries to ensure cash flow in 2020. Some marketing strategies reduce risk and others may increase farmer risk. This webinar will help attendees understand which marketing strategies these are.
More resources at: https://farm.unl.edu/farm-survival-marketing-strategies-june-11-2020-webinar.
With Rick Berry, administrator, Nebraska Ethanol Board. From May 28, 2020.
A look at where we have come with ethanol, where we are today due to a multitude of economic disruptions in the ethanol industry—with the big disrupters being federal policy and COVID-19. Plus, opportunities for the future for ethanol, with information on the big picture and what it all means for Nebraska agriculture.
More resources are at https://farm.unl.edu/ethanol-yesterday-today-and-tomorrow-may-28-2020-webinar.
Nebraska Extension Educator Allan Vyhnalek covers the estate planning process, pitfalls to look out for and strategies for completing your plan.
Find out more at https://agecon.unl.edu/why-do-we-not-have-estate-plan.