WENTZVILLE, Mo. — Farmers experienced an eventful 2021, and as it winds down they are sorting through how to manage higher revenues for next tax season, higher input costs and this year’s weather challenges.
Dr. Seth Meyer picked as new Chief Economist
The U.S. Food and Drug Administration’s Center for Veterinary Medicine published the 2019 Summary Report on Antimicrobials Sold or Distributed for Use in Food-Producing Animals. The report shows that domestic sales and distribution of medically important antimicrobials approved for use in fo…
Self-paced course for ag producers can fulfill FSA borrower requirements
Several issues will impact the farm economy in 2021, with the launch of COVID vaccines, a new administration and a rebound in commodity prices that is boosting farm incomes. However, there will likely be little change in loan demand, bankers say.
Despite the recent challenging years in agriculture, Illinois farmers have a relatively low ratio of debt to assets, University of Illinois agricultural economist Gary Schnitkey said.
The 2020 vision for the farm business has become cloudy as we have moved into the first quarter of the year. But strong business management skills and systems do not go out of style in times of uncertainty. These skills will help the business work through this downturn in commodity prices.
After rising sharply two months in a row, the Ag Economy Barometer weakened significantly in August, falling back to a reading of 124, down 29 points compared to a month earlier and just slightly below the June reading of 126.
MANHATTAN, Kan. — Kansas net farm income rose last year despite weather extremes, trade disputes and depressed market prices, but the increase came with a catch, according to a Kansas State University news release.
Although 75 percent of the responding agricultural bankers expected farmland values to be stable during the January through March period of 2019, nearly all of the rest expected farmland values to move down.
Getting started in production agriculture is expensive. If new operators don’t have access to land and assets, they likely require a good lending partner.
Rising interest rates, tariffs on farm goods and stagnant grain prices are among elements forming a dark cloud hanging over the ag economy. But it may not all be doom and gloom. Some observers are straining to see the bright side.
Editor’s note: The following was written by Austin Duerfeldt, University of Nebraska Extension agricultural systems economist, for the university’s Crop Watch website Dec. 11.
As with many aspects of farming, keeping the books is becoming more complicated. But it is still all about the basics.
As the end of the year approaches, farmers are starting to turn their attention from the harvest to strategic tax and business planning.
Current corn and soybean prices, along with cost increases, suggest extremely low returns for 2019. While there are a number of events that could change this outlook, planning for low 2019 incomes seems prudent.
ST. LOUIS — Eighth District agricultural bankers reported that farm income had declined and that farm household spending and capital expenditures remained below levels compared with a year ago. The number of bankers reporting third-quarter declines was larger than three months ago, and they …
Every year, University of Missouri ag economist Ray Massey conducts surveys of ag rental rates and land values. Despite the challenging farm economy, he says the “2018 Cash Rental Rates in Missouri” survey results have been somewhat surprising.
Non-real estate lending increased significantly in the third quarter, according to the National Survey of Terms of Lending to Farmers. The total volume of non-real estate farm loans was more than 30 percent higher than a year ago.
As harvest 2018 consumes most of your attention, take some time to review your accounting records in anticipation of planning for the end of the year.
With many policy issues up in the air and a midterm election coming up Nov. 6, uncertainty is one of the only things farmers can be sure of when planning for 2019.
Any significant farm price improvements over last year’s prices will be limited, particularly with record U.S. yields for many of the major crop commodities adding to available supply levels. Animal ag will need more export market growth to absorb the current pace of output and expansion.
So far, anhydrous ammonia prices are close to $80 per ton higher for 2019 production as compared to 2018 production. DAP prices are close to $70 per ton higher and potash prices are near $35 per ton higher.
The farm equipment auction market is busy in 2018, and it is possible that could mean more farmers are calling it quits.
Editor’s note: The following was written by Dwight Raab, Bradley Zwilling and Brandy Krapf, with the Illinois FBFM Association and University of Illinois Department of Agricultural and Consumer Economics, for the university’s Farmdoc Daily website Sept. 21.