Nebraska FARMcast - Farm and Ranch Management

"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...

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...

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 e...

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 wit...

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 Agri...

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 parti...

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...

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...

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-...

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...

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 S...

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...

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 J...

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 a...

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 vo...

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 Univers...

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 special...

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.  Re...

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 ei...

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 cat...

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 successio...

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 sub...

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, discus...

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 H...

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...