Agricultural Economics Commons^™

Cover Crop Utilization Across Nebraska And Implications For Cropland Lease Arrangements In 2024, Jim Jansen, Jeffrey Stokes

Cornhusker Economics

The Nebraska Farm Real Estate Market Survey and Report 2023-2024 provides insight on recent trends in the market value of land and cash rental across the state. Each year, the special feature section covers topics on new or emerging issues related to the agricultural land industry in Nebraska. These topics reflect the interest expressed by panel members and readership of the Nebraska Farm Real Estate Market Highlights Reports. The special feature section in 2024 focuses on trends and considerations for cover crops across Nebraska and implications on lease arrangements.

Findings from the 2022 Census of Agriculture in Table 1 provide …

Working Capital And Cash Flow Tools To Improve Farm Business Performance, Matthew Stockton

Cornhusker Economics

The point of this short essay is to briefly review the need and purpose of both tools, hoping that such a review will help farm managers and operators use them to reach their higher potential and improve their businesses and lives. Working capital represents the businesses’ ability to deal with short-term conditions and its resilience conferred upon it as a result of past performance in accumulating liquid assets. The cash flow document provides the ebb and flow of liquid assets during the normal cycle of doing business, providing recognizable events, plans that can be scrutinized, and identifiable challenges. These tools, …

Conservation Decision Making And Agricultural Land Leasing - An Experimental Investigation Of The Role Of Gender, Diya Ganguly, Simanti Banerjee, Christopher Gustafson

Cornhusker Economics

This research investigated the impact of landowner gender and of the different types of contract leases offered by them to a male tenant, on the conservation (or non-conservation) choice made by the tenant. Specifically, we investigate if a) female and male landowners offer different rental contracts and b) whether tenants choose different actions based on the landowner’s gender. For this purpose, we implemented a controlled, gender-context-loaded economic experiment with university students, in which we tested contract and land use choice under different treatments for three types of rental contracts – fixed rent, fixed rent with penalty, and fixed rent with …

Linking Risk Preference, Women’S Empowerment, Farm Investment And Household Well-Being, Samuel Olusesi Olumide

Department of Agricultural Economics: Dissertations, Theses, and Student Research

A nuanced understanding of intra-household dynamics can inform the design of more effective empowerment and agricultural investment policies. By integrating household risk preferences and empowerment dynamics, this work offers valuable insights into the complex mechanisms driving household welfare and provides a framework for future interventions to promote gender equality and economic development in rural settings. This thesis addresses three core hypotheses: first, that the spouses of risk-seeking male heads are more likely to be disempowered compared to those of risk-averse male heads; second, that households with risk-seeking male heads and disempowered spouses are likely to invest more in farming activities; …

Information About Honey Fraud: Implications Of Information Choice For Consumer Behavior, Christopher R. Gustafson

Cornhusker Economics

The study highlights that standard research practice—exposing participants to information—may not capture what will happen outside of the lab when people have a choice about what to read, view, or do with their time. While we found that having participants read about honey fraud significantly shifted their willingness to pay for local and domestic versus imported honey, we did not find those changes when people were able to select a text to read.

The implications of these findings extend beyond the issue of honey fraud to broader contexts of food safety, nutrition, and production techniques. While people have preferences for …

Ideas For Estate And Transition Planning: Gifting Ownership, Jessica J. Groskopf

Cornhusker Economics

For many farm and ranch families, bringing children or grandchildren into the operation is the ultimate goal. Successfully bringing additional family members into the operation may require some creativity as all parties need to maintain a viable standard of living. This article is part of a series that will highlight ideas and tactics for bringing another family member into the operation. If this is the first article you are seeing in this series, I would encourage you to go back to the for background and additional guidance.

A strategy that is gaining popularity is the gifting of shares or a …

Annual Forage Insurance Program Performance, Jay Parsons

Cornhusker Economics

In 2014, the Annual Forage Insurance Program (AFIP) was offered for the first time by the USDA – Risk Management Agency (RMA) as a pilot program for the states of Nebraska, North Dakota, South Dakota, Kansas, Oklahoma, and Texas. It was expanded to include Colorado in 2016 and New Mexico in 2017. This year marks the 10-year anniversary of the program, and the goal of this article is to provide a summary of where the program is and how it is being used. We will focus specific attention on Nebraska but also provide an overview of the national picture.

The …

The Growth Of Ethanol In Brazil: Sugarcane, Corn, And A Few Other Things, Fabio Mattos

Cornhusker Economics

Although we can expect more ethanol produced from corn in the coming years, it is unclear whether it will keep expanding at the same pace as in recent years or how much it will contribute to total ethanol production.

One point to keep an eye on is the typical dynamics of markets. If supply and demand conditions and price movements make corn-ethanol more profitable, ethanol plants in Brazil will keep increasing their production. If it makes more economic sense to produce corn-ethanol (as it happened recently), they will use more corn to produce ethanol.

Supply and demand conditions for ethanol, …

2024 Nebraska Agricultural Custom Rates With Statewide Survey Summary, Glennis Mcclure

Cornhusker Economics

The 2024 University of Nebraska-Lincoln Custom Rates Survey indicates that rate increases are the norm since the latest survey was completed in 2022. Table 1 provides a summary and percentage change for several common custom operations from 2022 to 2024. Custom field operations such as drilling and planting show increases in 2024 from seven to twenty-seven percent and harvesting rates for various crops indicate state average rate increases from fourteen to twenty-three percent, with the irrigated corn harvest now at $47.84 per acre for the state average. Other custom services, such as spraying for weed control using a self-propelled sprayer, …

From Australia To Nebraska: Researching Social Value, Marilyn R. Schlake, Cheryl A. Burkhart-Kriesel, Jean Ann Fischer, Michelle Krehbiel, Randy Saner

Cornhusker Economics

Globally, there is a growing body of research on social capital through the lens of social value, or how the social connections translate into actions with tangible outcomes impacting livelihoods and well-being. In the United States, social value is a relatively new perspective that will add to the social capital discussion.

Violent Conflict Drives World Hunger And Food Insecurity, E. Wesley F. Peterson

Cornhusker Economics

The World Food Program (WFP) with support from the United States and other countries works to provide food to those in need as a result of conflict, adverse climate effects, poverty, and government mismanagement. It is limited in what it can do, however, by budget constraints and rising food prices. On top of the financial issues, the delivery of food assistance is particularly complicated in areas of conflict where warring adversaries often hijack food supplies intended for the other side. While it is illegal under International Humanitarian Law to use starvation as a weapon of war, Dzerowicz (2023) has identified …

The North Central Extension Risk Management Education Center, Part Iii: Outcomes And Impacts, Bradley D. Lubben, Christine Lockert, Sheila Aikanathan Johnson, Milan Chauhan

Cornhusker Economics

The North Central Extension Risk Management Education (ERME) Center has existed since 2001 to help support producer-focused agricultural risk management education across the twelve-state North Central Region. The Center works together with centers in other regions of the country to implement a comprehensive program of needs assessment, regional grantmaking, capacity building, and evaluation and reporting to support projects that help producers manage risk and document the outcomes and impacts of those projects.

The last two Cornhusker Economics articles have described the Center and its activities and have highlighted the successes of some recently funded projects. This article concludes the discussion …

The North Central Extension Risk Management Education Center, Part Ii: Activities And Success Stories, Sheila Aikanathan Johnson, Christine Lockert, Bradley D. Lubben

Cornhusker Economics

The North Central Extension Risk Management Education Center is committed to educating American farmers and ranchers on effectively managing the distinct risks associated with producing food for global consumption. So far, we've funded 523 projects totaling over $18.7 million, benefiting more than 168,000 participants.

Part I provided an overview of the North Central Extension Risk Management Education Center, including its operations, priorities, service areas, and how the grant program functions. Part II details the center's activities and highlight some of the numerous projects that have been supported over 23 years since the awarding process started. In the forthcoming segment, Part …

The North Central Extension Risk Management Education Center, Part I: Helps Producers Manage Risks, Christine Lockert, Sheila Aikanathan Johnson, Bradley D. Lubben

Cornhusker Economics

Established in 2001, the North Central Extension Risk Management Education Center (NCERMEC) has a long history of supporting risk management education programs serving producers in the region. Located at the University of Nebraska-Lincoln Agricultural Economics Department, the Center is one of four regional Extension Risk Management Education (ERME) Centers located throughout the country. ERME is funded through USDA’s National Institute of Food and Agriculture (NIFA) and was authorized by the Agricultural Risk Protection Act of 2000. The fundamental purpose of the ERME program is to educate producers to manage risk and position their farm or ranch for future growth and …

Sunsetting Tax Provisions: Is Your Estate Plan Affected?, Anastasia Meyer, Glennis Mcclure

Cornhusker Economics

It is never too early to begin thinking about estate planning, how you want to transfer your assets to the next generation, and how your decisions may be taxed to the next generation. Those decisions may need to be adjusted as some provisions are set to expire at the end of 2025.

Impact Of Strategic Postweaning Supplementation On March- And May-Born Yearling Range Heifer And Calf Growth And Performance In The Nebraska Sandhills, Josie Nicole Crouch

Department of Animal Science: Dissertations, Theses, and Student Research

Three experiments were conducted at the Gudmundsen Sandhills laboratory near Whitman, Nebraska. Experiment 1, a retrospective regression analysis, evaluated the impact of heifer percentage of mature body weight (BW) at breeding on heifer performance, subsequent pregnancy rates, and calf production. Overall pregnancy rates were greater (P < 0.01) for heifers at 60 to 70% of mature BW than 50 to 55%, with no differences in pregnancy rates (P ≥ 0.15) after 2-years of age. Heifers at 50 to 60% of mature BW had a greater (P = 0.05) proportion give birth in the first 21-d. A higher percentage of mature BW at breeding resulted in greater (P < 0.01) BW at birth and weaning for offspring.

Experiments 2 and 3 were 3-year studies that evaluated the impact …

The Future Of The Organization Of The Petroleum Exporting Countries, Mikayla Gross

Honors Program: Senior Projects (Public)

The Organization of the Petroleum Exporting Countries (OPEC) is a multinational and intergovernmental organization that dictates the petroleum exportation policies of 13 countries: Algeria, Angola, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, the Republic of the Congo, Saudi Arabia, the United Arab Emirates and Venezuela (About Us, 2023). The mission of OPEC is to ensure a stable supply of petroleum through its shared policies for its Member Countries and consumers (Our Mission, 2023). Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela founded OPEC in 1960 under the foundations and principles that dictated the international world order. Those foundations and principles …

Buying Revenue Protection (Rp) Versus Buying The Rp With Harvest Price Exclusion (Rphpe) Version Of Multi-Peril Crop Insurance, Matthew Stockton, Shannon Sand

Cornhusker Economics

In a conversation with one of the TAPS participants about Multi-Peril Crop Insurance (MPCI) he suggested that you would never recommend RPHPE, due to the risk associated with a higher fall harvest price compared to the spring or predicted price. Since the year 2000, this has occurred about one-third of the time. This price reversal may alter indemnity size considerably, depending on which insurance is selected and if one qualifies for an indemnity. The discussion with the TAPS participant focused on the concern of risk exposure from pre-selling uninsured grain due to an unexpected increase in harvest price. This relates …

Community And Regional Economic Analysis: Unveiling Economic Dynamics With The Location Quotient Method And Beyond, Daniela M. Mattos

Cornhusker Economics

In addition to the Location Quotient analysis, several other economic development analytical tools can contribute valuable insights to investment decisions, such as population-employment ratios and shift-share analysis. The use concomitant of these tools boosts the information provided by the Location Quotient analysis, offering a more holistic perspective. Recognizing that each analytical tool provides only a partial view, it is essential not to rely solely on one method when making investment decisions. Comprehensive decision-making necessitates leveraging multiple tools to gain a more nuanced and accurate understanding of local economies.

Learning About Optimal Corn Seed Rate Management Via On-Farm Experimentation: Are Farmers Over-Planting?, Taro Mieno, Jaeseok Hwang, David S. Bullock

Cornhusker Economics

This covers seed rate management for corn production. The cost of corn seed—often higher than that of fertilizer—makes seed rate management a key determinator of a farm’s corn production profitability.

In 2022, the Data Intensive Farm Management project, supported by the United States Department of Agriculture (USDA-NIFA and USDA-NRCS) and spearheaded by the University of Illinois, implemented over ten seed rate on-farm experiments in the United States. The findings from six of these experiments (three from Illinois and three from South Dakota) have been prepared for analysis and are discussed here.

Nebraska Women In Agriculture Conference Marks 39 Years, Ryan Evans, Sarah Treffer, Jessica Groskopf

Cornhusker Economics

The Nebraska Women in Agriculture program marked 39 years of educating and empowering females in farming, ranching, and agribusiness, with nearly 380 people attending its annual conference on February 22 and 23, 2024 in Kearney, Nebraska, with a pre-conference session held on February 21. Including 25 workshops, 5 keynotes, and activities to help learn about risk management, farm and ranch improvement, and successful business practices.

Will Saf Turbocharge The Corn Ethanol Market?, Richard K. Perrin, Lilyan E. Fulginiti, Felipe Miranda De Souza Almeida

Cornhusker Economics

The long-run outlook for the corn ethanol industry is questionable, due to a transition to electric and hybrid vehicles. One source of hope for the long run is the potential demand for producing Sustainable Aviation Fuel (SAF). SAF is a key component in the United States Aviation Climate Action Plan, a path to net-zero greenhouse gas (GHG) emissions in the aviation industry by 2050. Demand for ethanol for SAF offers hope to the ethanol industry, but it depends a great deal on policy decisions that are being made now. Here we sketch out this story.

Based on the information available …

2024 Nebraska Farmland Values And Cash Rental Rates, Jim Jansen, Jeffrey Stokes

Cornhusker Economics

The market value of agricultural land in Nebraska increased by 5% over the prior year to an average of $4,015 per acre, according to the 2024 Nebraska Farm Real Estate Market Survey. This marks the third consecutive year of increases in the market value of agricultural land in Nebraska, setting another high in the non-inflation-adjusted statewide land value in the survey's 46-year history.

Value Of Gain In The Lamb Feeding Industry, Jay Parsons

Cornhusker Economics

Value of gain (VOG) is a term in the livestock feeding industry that refers to the average value of a pound of gain. It is the most appropriate revenue value to use in comparison to the cost of gain to determine profit margin.

2022 Census Of Agriculture: Nebraska Highlights, Kathleen Brooks, Bradley D. Lubben

Cornhusker Economics

In February 2024, the United States Department of Agriculture National Agricultural Statistics Service published data from the 2022 Census of Agriculture. This data is collected every five years. The current article highlights a few of the Nebraska numbers. Two significant highlights from the data are the total number of farms and the total value of production. U.S. farm numbers declined modestly in the U.S. from 2.04 million in 2017 to 1.90 million in 2022. The total value of production for U.S. farms and ranches increased substantially from $388.5 billion in 2017 to $543.1 billion in 2022. Crop production accounted for …

Increasing Workforce Skills: The Possible Disconnect Between Employers And Potential Job Seekers, Cheryl A. Burkhart-Kriesel

Cornhusker Economics

In a multi-year survey of potential job seekers, those who are likely to change jobs in the next year or who are likely to reenter the workforce in the next year, several key training obstacles for improving their employment situation were identified. There seemed to be only slight differences in how they viewed these challenges, regardless of whether they saw their potential job as a career, a steppingstone to a career, or just a job to get by. The cost of training, the lack of available training, the distance or transportation to the training, lack of time, and the knowledge …

Embracing Diversity In Agricultural Economics, Timothy Meyer

Cornhusker Economics

To steal an overused cliché, “There’s room in the tent for everyone.” Over the 2023 academic year, I have reiterated this message to all my students, with one addition. Not only is there room for everyone, but all are invited AND welcome. Food is something we all have in common, no matter the background. I think this is why producers in the state of Nebraska feel as strongly as they do about the food they produce; it is life-giving and should be taken seriously. Nebraska Agriculture is part of what makes our state great, and that is not a secret …

Slight Cost Of Production Changes Noted In The 2024 Nebraska Crop Enterprise Budgets, Glennis Mcmclure

Cornhusker Economics

The Nebraska crop budgets are available for the 2024 production season. The 84 enterprise budgets prepared in the October 2023 timeframe use input prices collected as of that time. Overall, estimates reflect slight cost of production decreases in the budgets when compared to the 2023 cost estimates. For 2024, the main drivers of cost decreases are due to decreased fuel and fertilizer costs. In some cases, pesticide costs decreased, yet for some of those products, prices increased. Seed and interest costs have increased for 2024 adding to cash expenses, while land opportunity costs and depreciation costs have continued to rise …

Program Requirements For Beef Cattle Certified As Usda Organic, Carsten Loseke, Elliott James Dennis

Cornhusker Economics

This document provides an overview of the use and production of the USDA Certified Organic program for the beef cattle industry, with an emphasis on the state of Nebraska. We detail what cattle qualify, feed requirements, medical and health standards of cattle, and premiums paid by consumers for USDA certified organic products. All information is taken from the Organic Foods Production Act Provisions available in the Federal Register.

Are Too Many Or Too Few Babies Being Born?, E. Wesley F. Peterson

Cornhusker Economics

An additional 1.8 billion people will be added to the world’s population by 2050. At the same time, average incomes are likely to rise. Data from the Groningen Growth and Development Center suggest that average real (inflation-adjusted) GDP per capita increased by a factor of fifteen between 1820 and 2018 and World Bank data indicate that real per capita GDP more than tripled over the past 62 years. It is likely that these trends will continue and there will be more people with higher average incomes in the future straining global food systems and natural resources. Slower population growth rates …