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The Art Of Leasing Negotiation In A Frenzied Environment, Bruce Johnson, Allen Prosch, Aaron Raymond
The Art Of Leasing Negotiation In A Frenzied Environment, Bruce Johnson, Allen Prosch, Aaron Raymond
Cornhusker Economics
Let’s face it. The farm economy across much of Nebraska has literally been turned upside down in the past few months by the “Ethanol Gold Rush.” Demand for corn has shot corn prices upward beyond $3.00 per bushel, when only a year earlier the harvest prices hovered around $1.50. Many expect these new price levels to hold, at least for the 2007 crop season.
Making The Competition Irrelevant - The Blue Ocean Strategy, Cheryl A. Burkhart-Kriesel
Making The Competition Irrelevant - The Blue Ocean Strategy, Cheryl A. Burkhart-Kriesel
Cornhusker Economics
What if you were involved in a business where all the market trends were showing a decline, indicating limited potential for growth? Here is the reality - your primary customer no longer sees your product or service as important. Other products and services have simply pushed you out. Technology and globalization are making it increasingly difficult to compete. Your realistic assessment tells you that the cost cutting strategies you have been implementing can only take the business so far. In essence, the business appears to be going nowhere.
Thinking Of Changing Your Mind, Now That You Already Planted Wheat?, Matt Stockton, Roger K. Wilson
Thinking Of Changing Your Mind, Now That You Already Planted Wheat?, Matt Stockton, Roger K. Wilson
Cornhusker Economics
Because wheat prices had increased dramatically this past year relative to other commodity prices, and seemed to remain strong, some producers decided to plant wheat this fall on acres that traditionally were planted to corn or soybeans. With the recent upswing in the corn market these producers may now be wondering if they should stick with the wheat they already planted or reconsider their plans and plant corn.
The Market Acceptance And Welfare Impacts Of ‘Terminator’ Technology, Marianna Khachaturyan, Amalia Yiannaka
The Market Acceptance And Welfare Impacts Of ‘Terminator’ Technology, Marianna Khachaturyan, Amalia Yiannaka
Cornhusker Economics
An Intellectual Property Rights (IPRs) system is effective when infringers can be identified, successfully sued for damages and deterred from further infringement. The effectiveness of IPRs in plant varieties is limited due to high detection costs of unauthorized use of seed that embodies intellectual property (e.g., genetically modified (GM) seed) and high enforcement costs. Seed companies have traditionally performed limited research and development (R&D) in self-pollinating plants mainly because seed saving limits their ability to recoup their investment.1
Retailing Patterns Across Nebraska In 2005, David J. Peters
Retailing Patterns Across Nebraska In 2005, David J. Peters
Cornhusker Economics
Understanding your local trade area is important because retail sales taxes are an important source of revenue for local governments; and the geographic concentration of retailing directly affects smaller communities. This analysis provides some base information that allows a better understanding of local trade areas. It should be considered a first step in developing a larger trade area plan and strategies for expanding the retail sales base. Pull factors are the best method to summarize the relative success of an area’s retail sector. Pull factors estimate the relative proportion of retail sales that a county draws from outside its borders, …
The Economics Of Dry Distillers Grain As A Creep Feed For Yearling Cattle, Matt Stockton
The Economics Of Dry Distillers Grain As A Creep Feed For Yearling Cattle, Matt Stockton
Cornhusker Economics
With the expected increase in ethanol production, one may expect an increase in production of its by-product, distiller’s grain. This by-product can be either sold as wet distiller’s grain (WDG) or as dry distiller’s grain (DDG). The value of DDG prices is expected to continue to fall relative to the value of corn, making this a much talked about alternative for feeding livestock of many different species. While much of the attention for the use of this by-product feed has been directed toward intensive livestock production such as dairy, hogs and fed cattle, recent work at the West Central Research …
Market Journal Toolbox, Becky Small, Darrell R. Mark
Market Journal Toolbox, Becky Small, Darrell R. Mark
Cornhusker Economics
Producers often rely on cash market sales without the use of forward contracting, futures hedging and other risk management tools for several reasons. Some producers perceive that the use of hedging lowers their net price or increases price variability on average. Others view hedging as a risky price enhancement mechanism that is reliant on being able to successfully forecast futures prices. Selling crops or livestock that have not yet been raised, paying margin calls and dealing with brokers are all viewed as risk-inducing activities for some farmers and ranchers. Many producers indicate their use of forward contracting and hedging is …
Fall Tax Planning, Tina N. Barrett
Fall Tax Planning, Tina N. Barrett
Cornhusker Economics
There are many benefits to doing fall tax planning for your operation, but the best is what it may cost you if you don’t do it. Really good tax planning requires someone who is knowledgeable in the changes made in the tax law each year, creative enough to think outside of what is normal and realistic enough to know what is possible.
Whither Grain Ethanol?, Richard K. Perrin
Whither Grain Ethanol?, Richard K. Perrin
Cornhusker Economics
Grain ethanol has been in the Nebraska news almost weekly over the last couple of years - plans announced, plant construction begun, plant openings, etc. The news has buoyed corn prices this fall, despite gasoline prices in the vicinity of $2.00/gal that reduces demand for ethanol. There is concern by some that diversion of corn from food (meat, milk and eggs) to fuel will have serious consequences for livestock and food markets. Concerns are also expressed that overexpansion will turn the ethanol boom into a bust. Much research remains to be done to clarify these economic issues, but some insights …
The Heart Of The Farm, Meg Klosterman Kester, Maggie Miller
The Heart Of The Farm, Meg Klosterman Kester, Maggie Miller
Cornhusker Economics
The 22nd Annual Women in Agriculture Conference was held September 14-15, 2006 in Kearney, Nebraska. This year’s conference theme was “The Heart of the Farm,” chosen because of the vital role women play in their operations, both as a producer and a relationship builder. There were nearly 400 women in attendance from 57 Nebraska counties, four states and Australia. Over 50 percent of conference attendees were sponsored by local lenders and agribusinesses.
Does The Federal Estate Tax Impact Farm Transition?, David J. Goeller
Does The Federal Estate Tax Impact Farm Transition?, David J. Goeller
Cornhusker Economics
Statistics show that the Federal Estate Tax impacts an extremely small number of farms and ranches. A Congressional Budget Office report based on data from the year 2000 projects less than 125 estates that own agricultural property would pay Federal Estate Tax nation wide.
What Are The Market And Regulatory Conditions Under Which Livestock Mandatory Reporting Would Benefit Livestock Producers?, Azzeddine Azzam, Konstantinos Giannakas, Kenneth Njoroge, Amalia Yiannaka
What Are The Market And Regulatory Conditions Under Which Livestock Mandatory Reporting Would Benefit Livestock Producers?, Azzeddine Azzam, Konstantinos Giannakas, Kenneth Njoroge, Amalia Yiannaka
Cornhusker Economics
On Wednesday, September 20, 2006, Senator Chuck Hagel’s office announced the re-authorization of the Livestock Mandatory Reporting Act. Enacted in 2001, the Act provides market participants with information on all cash and non-cash transactions reported by packers to the Marketing Service on a daily basis. The information is aggregated under specific confidentiality guidelines to preserve anonymity of the source, and published in the Mandatory Livestock and Meat Market News Reports.
Report Discusses Farm Policy Preferences, Bradley Lubben
Report Discusses Farm Policy Preferences, Bradley Lubben
Cornhusker Economics
The development of the next farm bill is a complex, comprehensive process that involves numerous issues. The process will, in part, be driven by the economic climate, the budget situation, the trade arena and the political setting at the time of the debate. The economic setting and the political setting invite a significant debate on the shape of the farm bill and the potential for new directions or alternatives. The budget setting and the trade setting both present challenges for this farm bill debate in terms of program priorities and potential program trade-offs.
Agricultural Earnings Highly Variable Over Time And By Sub-State Region, Bruce Johnson, Gibson Nene, Anneke Gustafson
Agricultural Earnings Highly Variable Over Time And By Sub-State Region, Bruce Johnson, Gibson Nene, Anneke Gustafson
Cornhusker Economics
For anyone close to production agriculture it is obvious that income and earnings levels are highly fickle from one year to the next. This can be clearly seen in Nebraska’s year-to-year total net farm income levels over the past decade, which have ranged from a low of $813 million in 2002 to nearly $3.4 billion in 1996 and again in 2004. But what about variation across the sub-state regions? And what economic impacts might these variations have for these regional economies?
The Cost Of Reducing Irrigation, Ray Supalla, Brian Mcmullen, Tom Buell
The Cost Of Reducing Irrigation, Ray Supalla, Brian Mcmullen, Tom Buell
Cornhusker Economics
For several decades Nebraska has proudly and appropriately regarded irrigation development as an important source of economic growth. However, in some parts of the state we now have too much of a good thing! To meet our Compact obligations to Kansas and Colorado in the Republican Basin and to comply with the proposed Cooperative Agreement for the Platte Basin we must find a way to consume less irrigation water. The cost of reducing irrigation and the equity implications will depend on what methods the state uses to achieve this objective.
Adaptive Management, Economic Realities And The Platte River Cooperative Agreement, Karina Schoengold
Adaptive Management, Economic Realities And The Platte River Cooperative Agreement, Karina Schoengold
Cornhusker Economics
In the past several years, the term ‘adaptive management’ has been used a lot with reference to the Platte River Cooperative Agreement. This leads to many questions – what exactly is adaptive management? How does it relate to economic and policy choices? How does it affect management choices made on the Platte River?
Reducing The Pace Of Global Warming: Can The Environmental Buyer Compete With The Climate Exchange In Buying Carbon Offsets?, Natalia Ovchinnikova, Gary D. Lynne
Reducing The Pace Of Global Warming: Can The Environmental Buyer Compete With The Climate Exchange In Buying Carbon Offsets?, Natalia Ovchinnikova, Gary D. Lynne
Cornhusker Economics
The term “global warming” was coined in 1896 by the Swedish chemist Svante August Arrhenius. He observed that as the consumption of hydrocarbon fuels and industrial production had grown over the years, the atmospheric concentration of greenhouse gasses (GHG), mainly carbon dioxide (CO2, which accounts for 80 percent of these gasses), began to correlate with a global increase in temperature. There is now general agreement in the scientific community that it is the burning of these carbon containing fuels that is causing global warming. There are two means to combat this warming: first, to reduce CO2 emissions; second, to offset …
Farm Lease Termination, J. David Aiken
Farm Lease Termination, J. David Aiken
Cornhusker Economics
Many farm leases, especially those between family members, are not written but are verbal "handshake" agreements. Because nothing is in writing, the parties may have different recollections of their agreement, making lease disputes more difficult to resolve. In legal terms, verbal farm leases in Nebraska may be either "year-to-year" leases or "holdover" leases. Holdover leases result when a written lease terminates but the landlord and tenant continue the lease with an oral agreement, either directly or implied, without entering into a new written lease. The most common legal issue associated with verbal farm leases is how a lease may legally …
What Makes An Efficient Farm?, Tina N. Barrett
What Makes An Efficient Farm?, Tina N. Barrett
Cornhusker Economics
It seems that answers to questions often bring more questions. It is certainly true for both my fouryear- old daughter and our study of efficient farms. Natalie’s favorite question is “Why?” and our studies seem to ask “How can they do that?”
A Long Run Of Profit, Al Prosch
A Long Run Of Profit, Al Prosch
Cornhusker Economics
According to data1 from Iowa State University, the longest run of profits for Iowa hog producers was from December of 1976 through August of 1979 (Chart 1). If hog prices continue as expected through October of 2006, that thirty-three month record will be broken. Already, this is the longest series of profitable months since the mid-1980s.
Livestock Gross Margin Insurance For Cattle, Josie Waterbury, Darrell R. Mark
Livestock Gross Margin Insurance For Cattle, Josie Waterbury, Darrell R. Mark
Cornhusker Economics
Livestock Gross Margin Insurance (LGM) for Cattle is a relatively new insurance policy offered through USDA’s Risk Management Agency (RMA) that offers protection against a decline in cattle feeding margins. LGM provides protection as a bundled option that comprehensively covers the cost of corn, the cost of feeder cattle and the fed cattle selling price, unlike traditional options on futures where these margin components must be hedged separately. Essentially, LGM provides insured producers an indemnity when the spread between fed cattle sales prices and feeder cattle and corn input prices narrows due to changing market conditions.
Should I Sell My Wheat?, Paul Burgener
Should I Sell My Wheat?, Paul Burgener
Cornhusker Economics
At this time of year, the most common question that I get from producers is, “Should I sell my wheat?” For an extension economist, this is a loaded question. If my answer is yes, then the price will go up $0.30 per bushel next week and I will get another less pleasant call. If I say no, the price will go down $0.30 the next week, and I get to have another conversation.
Regulation And Trade Of Genetically Modified Products, Luc Veyssiere, Konstantinos Giannakas
Regulation And Trade Of Genetically Modified Products, Luc Veyssiere, Konstantinos Giannakas
Cornhusker Economics
The emergence of agricultural biotechnology and the subsequent introduction of genetically modified (GM) products into the food system have been among the most controversial issues surrounding the increasingly scrutinized agri-food system. While agricultural producers have responded to the agronomic benefits associated with the producer-oriented, first generation of GM products and have been adopting GM crops in increasing numbers, consumers around the world have expressed an aversion to food products containing GM ingredients. Consumer opposition to GM products varies significantly both between and within countries and is founded on health, environmental, ethical and/or philosophical concerns about agricultural biotechnology.
Drought Issues And Taxes, Tina N. Barrett
Drought Issues And Taxes, Tina N. Barrett
Cornhusker Economics
Even with the recent rains that have fallen across parts of Nebraska, drought continues to plague farmers and ranchers and always brings up the question of consequences to the tax bill.
Nebraska Custom Rates Changes From 2004 To 2006, H. Douglas Jose
Nebraska Custom Rates Changes From 2004 To 2006, H. Douglas Jose
Cornhusker Economics
The increase in machinery costs this year has created uncertainty about what are fair costs for custom services. Fuel costs certainly are a major factor, but the purchase or “sticker” prices of machinery and the repair costs have increased as well. Fuel costs have increased about 46 percent over the past two years since the last Custom Rates surveys were taken in the Spring of 2004. Over the same period, overhead costs which include taxes, interest and insurance went up 14 percent and labor costs increased 10 percent. These increases are measured by input cost indexes reported by USDA’s National …
Real Estate Assessment And Tax Breaks: Reality Or Myth?, Bruce Johnson
Real Estate Assessment And Tax Breaks: Reality Or Myth?, Bruce Johnson
Cornhusker Economics
Nebraska continues to be one of the highest states in terms of its dependency on property taxation for funding governmental functions. For agricultural real estate property owners, this tax can, and often does, become quite burdensome since it does not relate directly to the level of income earnings (off the land) or the benefits received (the majority of property tax obligations are for public schools and not propertyenhancing services like police and fire protection, roads/bridges, etc.). It is little wonder that rural citizens are particularly concerned about it.
Agricultural Disaster Assistance, Bradley Lubben
Agricultural Disaster Assistance, Bradley Lubben
Cornhusker Economics
The U.S. Congress has been working on an emergency supplemental appropriations bill in recent weeks to provide funding for defense, the global war on terror, and additional hurricane relief in response to the lingering needs following the devastating set of hurricanes in 2005. Currently, the bill sits with a Conference Committee to resolve differences between versions passed in the Senate and in the House of Representatives. Expectations are that the bill will be completed before the end of June as funding for continued defense operations will become critical, but exactly what will be in the final version of the bill …
New Youth Entrepreneurship Curriculum On The Horizon, Marilyn R. Schlake, Charlotte Narjes, Patricia Fairchild
New Youth Entrepreneurship Curriculum On The Horizon, Marilyn R. Schlake, Charlotte Narjes, Patricia Fairchild
Cornhusker Economics
The Agricultural Economics Department at the University of NebraskaSLincoln is teaming up with UNL’s Extension 4-H Development Program to produce a youth entrepreneurship curricula that incorporates 4-H projects, entrepreneurship, schools and community.