Nebraska FARMcast - Farm and Ranch Management

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...

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 importan...

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...

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 podcas...

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...

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....

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 ann...

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...

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...

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 prof...

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,...

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 s...

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 Agricul...

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-safe...

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 De...

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...

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 e...

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 mark...

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/cr...

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...

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...

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 landow...

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 finan...

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...