Life Sciences Commons^™

Six Key Components Of A Farm Or Ranch Business Plan, Jay Parsons

Cornhusker Economics

Developing a good farm or ranch business plan can have many benefits. In an earlier Cornhusker Economics article, I outlined six good reasons to develop a business plan (Parsons 2015). It helps to get your business organized and moving in the right direction. It lets your lender know you have a plan to succeed, which opens up your access to capital. It also helps you organize your thoughts, clarifying the goals and objectives you wish to achieve. In summary, putting together a written business plan increases the likelihood of your business achieving success (Scarborough 2011).

Jerome Powell Is Not The Bad Guy, Tim L. Meyer

Cornhusker Economics

One of the maxims often heard in economics, agriculture, and politics is that those who do not learn from history are bound to repeat it. At first glance, this is a pessimistic view of human behavior. However, I believe that in some part it is a reflection of the positive spirit exhibited by many Americans. While it is true some have not bothered to learn from history, others have simply emphasized the positive times while simultaneously limiting the memory of more challenging experiences.

Do We Need More Futures Contracts In Commodity Markets?, Fabio Mattos

Cornhusker Economics

In the last couple of months, there has been news about a new futures contract for soybeans. The Financial Times and Reuters, among others, reported that the CME Group, the world’s largest futures exchange, is considering launching a futures contract based on Brazilian soybeans. The discussion seems to have started after trade issues between the United States and China resulted in a 25 percentage-point tariff on U.S. soybeans exported to China. As Chinese buyers try to avoid the tariff by purchasing grain from other suppliers, notably Brazil, a new price dynamics between U.S. and Brazilian soybeans could be emerging. This …

Nebraska Cooperative Extension Association Scrapbook: Officers And Annual Meeting Programs 1967-1999

Nebraska Cooperative Extension Association Materials

THIS IS HOW IT BEGAN .... 1967: Extension Groups Merge

Charter Year Directors L-R Don Kubik John Burbank Genevieve Lawrence Roland Cooksley Roberta Sward, Treasurer Vick McClure, Pr'esident I ' Deloris Clouse, Secretary Jack Timmons, Vice President Bill Pederson JoAnn Luzio Madeline Pedersen Margaret Staley

1971 L-R Robert Klein, President Jane Munson, Secretary Helen Solt, Vice President Duane Kantor, Treasurer

1974 L-R Carol Van Nordheim, Secretary Ralph Anderson, Treasurer Phil Cole, Vice-President Twyla Lidoloh, President

1975 L- R Al Wellman , Treasurer Marlyn Low, Vice- President Phil Cole, President Carol Van Nordheim. Secretary

1978 L-R Jayne Bierman, Decker President Don …

The Local Food System Vitality Index: A Pilot Analysis To Demonstrate A Process For Measuring System Performance And Development, Jairus J. Rossi, Timothy A. Woods, Alison F. Davis

Agricultural Economics Faculty Publications

Identifying successful development priorities for local food systems (LFSs) is a challenge for pro­ducers, LFS advocates, Extension agents, and policymakers. Consumer perceptions and prefer­ences regarding what constitutes an active, healthy, and vibrant LFS often differ within and between diverse communities. Producers, development entities, and others would benefit from rapid assessment processes that provide detailed information on consumer preferences and potential market opportunities within their LFS.

In this paper, we introduce the analytic possi­bilities of our Local Food System Vitality Index (LFSVI). Using data collected from a pilot survey in Lexington, Kentucky, we rapidly assess the per­formance of 20 different components …

Agricultural Production From The High Plains Aquifer Is Worth Over $3 Billion Per Year, Richard K. Perrin, Lilyan E. Fulginiti, Federico Garcia

Cornhusker Economics

Recent research (Garcia, Fulginiti and Perrin, 2018) has shown the that the extra agricultural production from irrigation across the High Plains Aquifer (HPA) was worth about $3.5 billion in 2007, $2 billion of which was produced in Nebraska. The aquifer water is valuable!

The Economics Of The Capitalization Rate For Farmland, Jeff Stokes, Jim Jansen

Cornhusker Economics

There are three approaches that real estate appraisers use to value real property, namely, the market or sales comparison approach, the income approach, and the cost approach. The sales comparison approach is the primary way that residential real estate is appraised with the cost approach thrown in for good measure. For income producing properties, which includes commercial real estate as well as farm real estate, all three approaches are frequently used. When there are minimal improvements on farmland, the sales comparison and income approaches often provide competing estimates of value that must be reconciled so that an appraiser can render …

2018 – 2019 Kentucky Agricultural Economic Situation And Outlook, Kenneth H. Burdine, Todd D. Davis, Jerry Pierce, William M. Snell, Timothy A. Woods, Jeffrey W. Stringer

Agricultural Situation and Outlook

This publication covers the situation and outlook for 2018-2019 in the following areas:

• U.S. Agricultural Economy;
• Kentucky’s Agricultural Economy;
• Selected Commodity Profiles - Cattle; Poultry; Hogs; Equine; Dairy; Corn; Soybeans; Wheat; Tobacco; Fruits, Vegetables and Greenhouse; and
• Forestry.

Initiative 427: Nebraska Medicaid Expansion, J. David Aiken

Cornhusker Economics

This article summarizes information regarding Initiative 427–the Medicaid expansion question on the November 6, 2018 ballot. It reprints the actual ballot language and the Nebraska Secretary of State’s summary of arguments for and against Initiative 427.

Background. Originally Medicaid covered the elderly, the disabled, children in low-income families, and low-income pregnant women. In 2010 Medicaid coverage was expanded by Congress to include the working poor. In 2012 the U.S. Supreme Court ruled that the provision of the Affordable Care Act (ACA) requiring states to expand Medicaid was unconstitutional. This made it a state option whether or not to expand Medicaid. …

Quantitative Appraisal Of Non-Irrigated Cropland In South Dakota, Shelby Riggs

Honors Theses

This appraisal attempts to remove subjectivity from the appraisal process and replace it with quantitative analysis of known data to generate a fair market value of the subject property. Two methods of appraisal were used, the income approach and the comparable sales approach. For the income approach, I used the average cash rent for the region, the current property taxes for the subject property, and a capitalization rate based on Stokes' (2018) capitalization rate formula to arrive at my income-based valuation. For the comparable sales approach, I utilized Stokes' (2018) research in optimization modeling to estimate a market value for …

Farm Programs, Payments And Prospects, Bradley D. Lubben

Cornhusker Economics

The USDA Farm Service Agency (FSA) began issuing payments to producers in October for Price Loss Coverage (PLC) and Agriculture Risk Coverage (ARC) programs for the 2017 crop year. While these farm program payments had provided substantial cash flow to help buffer falling market price and farm income projections in the past three years, the current programs will provide relatively little cash flow for now and for the coming year. Only the ad hoc trade assistance payments and the outlook for new farm programs and decisions in 2019 may provide potential relief from the current outlook.

Impacts Of Climate Change And Bioenergy Markets On The Profitability Of Slash Pine Pulpwood Production In The Southeastern United States, Andrea Susaeta, Pankaj Lal

Department of Earth and Environmental Studies Faculty Scholarship and Creative Works

In this study, we assessed the impacts of climate change on the production of pulpwood and biomass for bioenergy, and the profitability of slash pine stands in the Southeastern United States. We employed the 3-PG (Physiological Processes Predicting Growth) model to determine the effects of future climates on forest growth and integrated it with a stand-level economic model to determine their impacts on optimal forest management. We found that the average production of pulpwood increased for all sites by 7.5 m³ ha⁻¹ for all climatic scenarios and productivity conditions. In the case of forest biomass for bioenergy, the …

Applying Interconnected Game Theory To Analyze Transboundary Waters: A Case Study Of The Kura-Araks Basin, Marianna Khachaturyan, Karina Schoengold

Cornhusker Economics

A number of environmental problems are international in nature, including many water management issues. Rivers, for example, do not recognize political boundaries. Therefore, pollution generated in one country can affect neighboring countries, while water extraction in an upstream country can affect water flow and water availability in a downstream country. The situation creates an interdependency among countries, which might lead to disputes over the management of transboundary water. Therefore, coordination among the countries is necessary for effective management of these transboundary resources.

The focus of a recently published study (Khachaturyan and Schoengold, 2018) is the transboundary Kura-Araks Basin (see Figure …

Doing Well By Doing Good In The Fight Against Malnutrition And Hunger, Konstantinos Giannakas, Amalia Yiannaka

Cornhusker Economics

Technological innovation and the conduct of innovating firms are key weapons in the fight against hunger and the pursuit of food security around the world. Agricultural biotechnology seems uniquely equipped, if not destined, to spearhead the effort to combat malnutrition and hunger around the world by conferring significant agronomic benefits to producers and by having the ability to enhance both the resistance of plants to environmental stresses and the quality and nutritional value of food. Research that was recently published by the Center of Agricultural and Food Industrial Organization- Policy Research Group at the University of Nebraska Lincoln analyzes the …

Market Facilitation Program: Impact On Nebraska Corn And Soybean Producers, Anil Giri, Wes Peterson

Cornhusker Economics

In July 2018, President Trump imposed a first round of 25-percent tariffs on Chinese electronics and high-tech equipment including automobiles, computer hard drives, and LEDs. The tariffs were imposed on roughly $34 billion worth of imported goods. In August 2018 additional 25-percent tariffs were imposed on $16 billion worth of Chinese exports to the United States and in September tariffs on $200 billion worth of Chinese exports to the United States were added. (Bradsher, 2018). The Trump Administration has also imposed automobile, steel and aluminum tariffs on imports from Canada, the European Union and other countries.

In response to the …

The Growing Sustainable Seaweed Industry: A Comparison Of Australian State Governance Directing Current And Future Seaweed Cultivation, Meagan E. Currie

Independent Study Project (ISP) Collection

Seaweed is a critical part of natural marine ecosystems. In addition to supporting the marine environment, seaweeds are a significant global resource with nutritional, industrial and pharmaceutical applications. Seaweed also has the capacity to remediate excess nutrients in the water caused by agricultural or aquacultural waste of other organisms. Seaweed has demonstrated large potential as a remediation tool in land based polyculture and offshore Integrated Multi Trophic Aquaculture (IMTA) systems.

Seaweed is already worth over US$7 billion as a global industry, but as of 2013 over 93% of global seaweed is produced in Asia (Lorbeer, 2013, p. 718). Australia imports …

Local Food Entrepreneurship Support, Needs And Gap Analysis, Karin E. Allen, Ruby Ward

All Current Publications

This study looks at the current needs as well as resources available to identify gaps in services and provide recommendations about how programs could be improved or added in support of the Utah food production system. An in-depth background on FICs is presented, followed by a brief description of Utah’s food climate. The methodology used and the analysis, followed by .final recommendation is included.

Farm Location Influence On The Optimal Crop Insurance And Pre-Harvest Hedging Level, Cory Walters

Cornhusker Economics

Improving farm financial health can come from improving the understanding of the market forces influencing the optimal crop insurance contract and preharvest hedging risk management tools. The biggest challenge for farmers is the difficulty of assessing risk since experiencing risk, is by default, rare. Additionally, farmers receive advice about which crop insurance plan they should purchase or how much pre-harvest hedging they should do from sources, such as farm magazines, that likely do not consider the differences in individual risk exposure. Following the advice of such sources could result in producers being inadvertently exposed to more risk. A producer’s location …

Justice Served Fresh: Associations Between Food Insecurity, Community Gardening, And Property Value, Micajah Daniels, Courtney Coughenour Ph.D

McNair Poster Presentations

Numerous stakeholders in Nevada have used a variety of efforts to combat the growth of food insecurity facing Nevadans. The purpose of this research project is to understand the association between food insecurity, community gardens, and property value. Following the wealth of scholarship on these topics and data collected from community garden agencies in Southern Nevada, the research questions for this project include: (1) Where are community gardens located in SNV? (2) What efforts community gardens agencies are doing to address food insecurity (most interested in their efforts using community gardens)? (3) What are the perceptions of supports and barriers …

The Corn/Soybean Rotation And Profitability, Matt Stockton, Devin Broadhead

Cornhusker Economics

One of the most basic questions farmers must answer on an annual basis is what to plant. In some cases this is simply a choice among cultivars in others it is a choice among different crop types. In Nebraska the choice may vary considerably since many different crop types are grown. This discussion focuses on the factors that affect profitability, which are created by both biology and economics, and how that might be used to make the best crop rotation selection between corn and soybean cropping systems.

Importance Of Being Digital Ready – What Does That Mean?, Charlotte Narjes

Cornhusker Economics

Communities often determine if they are digital ready on whether or not high speed internet is available. The conversation then focuses on who has high speed internet and who does not. Hence, the divide. High speed internet is an important factor on whether or not a community can be competitive in a global market. But, it is not the only digital-ready factor necessary to compete in a global economy. One challenge of focusing on the divide is that assumptions are made that individuals do not have skills in rural areas to use technology and, that these rural residents may not …

The Evolution Of Nebraska Corn Basis, Jessica J. Groskopf, Amanda Silva

Cornhusker Economics

In 2018 Nebraska farmers planted 9.7 million acres of corn, the most of any crop in the state. The primary uses for corn in the state are cattle feed and ethanol production. Nebraska currently has 25 ethanol plants producing around 2 billion gallons of ethanol annually. This capacity consumes approximately 40% of Nebraska’s annual corn production.

New Market Opportunities And Consumer Heterogeneity In The U.S. Organic Food Market, Gwanseon Kim, Jun Ho Seok, Tyler B. Mark

Agricultural Economics Faculty Publications

This paper investigates what factors and characteristics of organic consumers affect annual organic food expenditure by using Nielsen’s consumer panel dataset from 2010 to 2014. To be specific, this paper explores new marketing opportunities by investigating organic consumer heterogeneity in different household income levels by utilizing the multilevel model. Findings in this study will contribute to the previous and existing literature in three-folds. First, we find that the organic consumers are more heterogeneous in the high-level of income groups (approximately above $60,000), as well as the low-income households between $35,000 and $45,000. This finding demonstrates that the income levels above …

The Rationale For Taxpayer Support For Primary Industry Research And Innovation In Western Australia, Ross Kingwell

Research Reports

During the 2000s a common view in government circles was that governments were over-investing in primary industry research and innovation. In agreement with this view, the Western Australian (WA) government lessened its support for primary industry research and innovation over the last decade. The impacts of this reduced support are seen clearly in the Department of Primary Industries and Regional Development (DPIRD). In 2008–09 its agricultural staff count was 1518, yet by the end of 2017–18 this will be under 800, with remaining staff working mostly in regulation, biosecurity and corporate services rather than research. So great has been the …

The Use Of Smart Devices For The Detection Of Aflatoxin In Ground Corn Feeds, James Salveo L. Olarve, Gil Nonato C. Santos, Karen Doniza, Mary Gillian Santos

Angelo King Institute for Economic and Business Studies (AKI)

Aflatoxin contaminates agricultural commodities, plants or animal-derived food, in warm and humid conditions primarily in tropical countries such as the Philippines. Although the type and degree of contamination are dependent on its concentration, its effect becomes critical when biomagnified. In this study, a rapid, simple, and portable detection was developed. A smart-device sensor was used to measure the pH of the samples with aflatoxin and compared it with the pH of pure samples. Concentrations in parts per billion (ppb) were calculated for each of the samples from the obtained pH readings; Cyclic voltammetry was also conducted to further study the …

A Model For Farmer Support In Zimbabwe – Opportunity For Change, Brierly Kuhudzayi, Daniela Mettos

Cornhusker Economics

Community development refers to the collective action of a group of people to improve their quality of life or to fix a problem they face. It involves active participation by the people facing the problem. Input subsidy programs (ISPs) are commonly used in Sub-Saharan Africa as a strategy to achieve several development goals. They generally aim to improve the lives of poor subsistence-level farmers, improve agricultural output, and stimulate the economy. However, ISPs are not technically a community development tool because they are typically centrally planned and top-down in nature.

Economics Of Experimental Design: Finding The Optimal Design Of A Whole Field Randomized Experiment, Taro Mieno, David S. Bullock, Aolin Gong

Cornhusker Economics

An April 2017 Cornhusker Economics article Getting to Know Your Yield Response Better through Whole-field Randomized Experiments discussed a case study detailing a whole-field randomized agronomic experiment (nitrogen and seed rate). The study was conducted in Kentucky and funded through the USDA-NIFA Data Intensive Farm Management (DIFM) project. The project has so far resulted in more than 50 experiments across several states, including Illinois, Nebraska, Kansas, and Washington. The overarching goal of the project is to provide agricultural producers with the best input rate, variable or uniform, which maximizes their farm profits. This involves statistically estimating the crop response function …

Invasive-Plant-Removal Frequency—Its Impact On Species Spread And Implications For Further Integration Of Forest-Management Practices, Bernabas Wolde, Pankaj Lal

Department of Earth and Environmental Studies Faculty Scholarship and Creative Works

For a given invasive plant species and control method, effective invasive plant eradication requires regular monitoring and management. While most previous studies characterize invasive plant species, develop appropriate control methods, or prioritize species for management using aggressiveness and other considerations, few study why some forestland owners are less likely than others to regularly remove invasive plant species. Such information is useful in prioritizing and targeting forestland owners who are at greater risk for invasion, with the stands threatening adjacent forestlands. Towards this end, we surveyed 1800 forestland owners in Virginia and Texas. We use data on forestland owners’ socioeconomics and …

2018 Cash Lease Adjustments On Irrigation Equipment For Cropland Rental Arrangements In Nebraska, Jim Jansen, Jeff Stokes

Cornhusker Economics

The Nebraska Farm Real Estate Market Highlights Report 2017-2018 provides recent trends on land values and rental rates for landowners, tenants, and stakeholders. Each year the special feature section covers topics on new or emerging issues related to agricultural land in Nebraska. These topics reflect interest expressed by panel members and readership of the Nebraska Farm Real Estate Market Highlights Report. The special feature section in 2018 focuses on cash lease adjustments on irrigation equipment for cropland rental arrangements in Nebraska. Results from this special feature section of the survey are summarized in this article.

Financial Impact Of The Tax Cuts And Jobs Act On Ag Producers, Tina N. Barrett

Cornhusker Economics

The dust still hasn’t completely settled from the changes made in December of 2017 to the tax code by the Tax Cuts and Jobs Act (TCJA), but we are starting to dig through the law to make some sense of what this will look like for ag producers. What we know for sure is that the changes are far reaching and complex. We also know that for most producers, the changes will result in a lower tax liability. The largest unknown is exactly how the new 199a deduction (20% passthrough) will need to be implemented. We are currently still waiting …