Nebraska FARMcast: Recent Episodes
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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.
On this episode, we're joined by Dr. Brad Lubben, agricultural policy specialist at the University of Nebraska-Lincoln. The major party conventions are over and election season is in full swing, bringing speculation about what a new congress and administration could mean for agriculture policy. In his latest Policy Report column for Nebraska Farmer magazine, Dr. Brad Lubben, extension ag policy specialist with the University of Nebraska of Nebraska-Lincoln, explores some of the questions facing agriculture as Americans prepare to head to the ballot box in November.
Looking ahead from now in the late summer of 2024, the agricultural landscape faces a mix of challenges and uncertainties. Lower commodity prices, rising production costs, and tighter margins are creating a difficult environment for producers across the country. The financial pressure is reminiscent of the hurdles faced by the ag sector a decade ago, but today’s high-interest rate climate adds another layer of complexity.That’s according to Dr. Brad Lubben, associate professor and extension policy specialist here at the University of Nebraska-Lincoln. He’s joins the podcast to explore some of these risks facing producer and to discuss some tools and strategies available to help navigate these challenges.
This year’s Nebraska Farm Real Estate Market Highlights Survey, recently published by the University of Nebraska-Lincoln, includes a special feature section that takes a closer look at the emerging trends and considerations for cover crops and their implications on lease arrangements. Jim Jansen, an ag economist with UNL and co-author of the annual real estate report, delves into these findings and explores the motivations and benefits of cover crops for landowners and operators across the state.
Anastasia Meyer, an agricultural economist with the Center for Agricultural Profitability, discusses her new article on estate planning, which focuses on stepped-up tax basis and its role in estate planning. She talks about how this adjustment can significantly reduce capital gains taxes for heirs and explores its implications for the transfer of farmland and other assets to the next generation.
This episode dives more into decision-making in agriculture, focusing on a powerful tool that can help farmers navigate the complexities and uncertainties they face. Jay Parsons, a professor in Nebraska’s Department of Agricultural Economics and Director of the Center for Agricultural Profiability, joins to discuss his article "Branching Out: Harnessing the Power of Decision Trees." It is co-authored with John Hewlett at the University of Wyoming and Jeff Tranel at Colorado State University, and first published in the July 2024 edition of RightRisk News, which you can find at rightrisk.org. The article delves into how decision trees can aid agricultural producers in making more informed choices amidst risk and uncertainty.
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.
This episode dives more into decision-making in agriculture, focusing on a powerful tool that can help farmers navigate the complexities and uncertainties they face.Jay Parsons, a professor in Nebraska’s Department of Agricultural Economics and Director of the Center for Agricultural Profiability, joins to discuss his article "Branching Out: Harnessing the Power of Decision Trees." It is co-authored with John Hewlett at the University of Wyoming and Jeff Tranel at Colorado State University, and first published in the July 2024 edition of RightRisk News, which you can find at rightrisk.org. The article delves into how decision trees can aid agricultural producers in making more informed choices amidst risk and uncertainty.
With: Nathan Kauffman, Omaha Branch Executive, Vice President and Economist, Federal Reserve Bank of Kansas City. On the verge of disaster one year ago, many segments of the U.S. agricultural economy have rebounded to new heights. Supported by robust global demand, reopening economies, and tight supplies, the prices of major U.S. crops have touched their highest level in nearly a decade. Although significant risks remain, the outlook for U.S. agriculture in the months ahead is strong.
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.
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.
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
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.
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, associate professor and grain economist in the Department of Agricultural Economics, discusses why participation in the new ECO depends upon producer goals and objectives.