Other Economics Commons^™

Accounting For Ag: Step Up While Passing Down, Austin Duerfeldt

Extension Farm and Ranch Management News

Summary

Through this article, I hope you’ve gained a better understanding of the basics of a step up in basis. A step up in basis can be viewed as an opportune time to sell long held farm ground that appreciated in value, with little to no capital gain issues. It plays a vital role in estate planning. In the individual case of each farmer/rancher, how the step up in basis might work for your operation varies on many specific circumstances. Developing an estate planning team that includes professionals such as an attorney and accountant, as well as, investment and insurance …

Alternatives To High Nebraska Agricultural Land Real Estate Taxes, Part 1 Of 2: Capital Gains And Alternative Investments, Austin Duerfeldt

Extension Farm and Ranch Management News

First paragraph

In Nebraska, most of my conversations about managing agricultural properties, whether rental or production, tend to steer toward real estate taxes at some point. While many counties in Nebraska have seen agricultural land taxes drop slightly since the 2015-2017 period, they are still a significant portion of operational expense. For example, dryland acres in Southeast Nebraska ballpark around $60 an acre. For someone looking to cash rent inherited ground, this becomes a major point of concern when looking for a tenant. If that ground cash rents for $190 an acre, and $60 an acre goes towards real estate …

The Nebraska Economy Responds To The Covid-19 Pandemic, Eric Thompson

Business in Nebraska

The Nebraska economy will contract in 2020 but the rate of decline will not be as rapid as nationwide. The economic structure of Nebraska is more focused on production and transportation than the national economy and less focused on hard-hit industries such as hospitality, entertainment, automobile parts and assembly, and oil production. Nebraska also may benefit from a higher quality workforce, which is better able to adapt to changing economic conditions.

Employment will drop by 2.4% in Nebraska in 2020, much less than the national rate of decline. Employment will rebound by 2.0% in 2021 and 1.4% in 2022. With …

Grain Marketing 2020: Survival And Covid-19, Robert Tigner, Jessica J. Groskopf

Extension Farm and Ranch Management News

First paragraph:

Let’s state the obvious: this isn’t a typical year and we all know it. For farmers, it is a survival year. Why? And what might be done to make it through to the other side of the COVID-19 pandemic? This article will discuss how to build a marketing strategy to assure that the farm continues to the next crop year.

Conclusion

This year is shaping up to be a survival year for crop producers. Crop producers need to know at what crop price they will recapture all of the cash they will spend this year. Implementing a marketing …

Has Covid-19 Impacted Price-Weight Relationships And Value Of Gain?, Elliott James Dennis

Extension Farm and Ranch Management News

First paragraph:

In the beginning of COVID-19, much of the attention was focused on managing the redirection of meat product from food service to retail stores. This past month has keenly focused on packing plant closures due to COVID-19 cases among workers and how to manage the supply of fat cattle already ready for slaughter. Fat cattle available for slaughter either cannot get bids or bids are significantly below breakeven prices leaving feedlots with decisions to be made about marketing and placements. The April 2020 Cattle on Feed report (https://usda.library.cornell.edu/concern/publications/m326m174z) revealed March placement decisions. Placements were down about …

Live Cattle Basis Due To Covid-19: Deviations And Convergence, Elliott James Dennis

Extension Farm and Ranch Management News

A Fundamental Review on Basis

Basis is defined as the cash minus futures. Cash market reflects today's supply conditions and price. Futures market reflects upcoming supply and demand conditions. If it is anticipated that there will be a period of increasing supplies, futures prices will decline to reflect that information. Likewise, periods of time with expected decreasing supplies, future prices are expected to increase.

Since cash and futures prices can move simultaneously, basis will fluctuate through time. In periods where basis becomes more positive (i.e. basis is said to be strengthening/narrowing) it implies that cash prices are increasing more relative …

Assumptions (Mistakes) That Parents Make With Estate Plans, Allan Vyhnalek

Extension Farm and Ranch Management News

Excerpt:

The main take-home message should be that the parents: 1) have a plan and continue to revise that plan from time to time and 2) be sure to think through the unintended consequences of your plan. Hopefully, some of the common assumptions mentioned here can be put into place so that the family does stay together for decades to come.

This is not an exhaustive list of assumptions that can go awry. It is being presented as a place for family thought and discussion to start. For more information go to: http://agecon.unl.edu/succession. There are other articles and video …

Pre Covid-19 Market Conditions Persist & The Stocker Industry Can Dampen The Damage, Elliott James Dennis

Extension Farm and Ranch Management News

First paragraph:

The effects of COVID-19 on the livestock market are well known and felt. Some effects include depressed futures and cash prices, unusual basis patterns, decreased packer bids and sale barn volume, packing plant closures, consumer hording of meat products, and shifting food service products for retail consumption. All these effects occurred as market participants grappled with everchanging government and industry policy which reduced consumer demand and resulted in bottlenecks and increasing supply gluts upstream. Simultaneously reducing demand and increasing supply always cause prices to plummet, and in the case of COVID-19 very rapidly. Some segments of the market …

Cares Act 2020: Unemployment Insurance And Farmer/Ranchers, Robert Tigner

Extension Farm and Ranch Management News

First paragraph:

Generally, unemployment insurance across the country is managed by state government. Each has different rules, with oversight by the US Department of Labor. The Coronavirus Aid, Relief, and Economic Security Act (CARES) Act made changes to the unemployment coverage for workers and appropriated funds for the changes. The act tasked the Labor Department with writing rules for the changes and it has issued an Unemployment Insurance Letter — UL No. 16-20 — that begins the rulemaking process. This guidance will then be used by Nebraska to implement the CARES Act. This article reviews what is known now with …

An Empirical Analysis Of Individual Events In Collegiate Forensics, Jordan Duffin Wong

Honors Program: Senior Projects (Public)

Anecdotally, it is a widely accepted notion in the United States’ collegiate competitive speech and debate community that a competitor’s strong record of competitive performance in the activity at the high school level is a powerful predictor of similar success in the activity at the collegiate level. However, no evidence has been brought to bear supporting this claim. This paper uses the universe of American Forensic Association National Individual Events Tournament results from 2013 to 2018 and links collegiate competitors to their respective high school performance data. I demonstrate evidence that high school experience does, in fact, appear to play …

Value Added Fed And Feeder Cattle Practices: Are They Paying?, Elliott James Dennis

Extension Farm and Ranch Management News

Summary

Some value added management programs clearly pay more than others and some do not pay at all. However, just like with a breeding or forage management strategy where not every year the cow gets bred back or the grass has sufficient protein, a value added program strategies premiums vary year to year. Switching the way cattle are managed and raised, handled, and fed requires planning and an understanding of labor and management capabilities. Not every cattle producer could or even should switch management practices an animal health protocol – even if premiums do exist. Thus, careful planning and consideration …

An Empirical Analysis Of Individual Events In Collegiate Forensics, Jordan Wong

UCARE: Research Products

Anecdotally, it is a widely accepted notion in the United States’ collegiate competitive speech and debate community that a competitor’s strong record of competitive performance in the activity at the high school level is a powerful predictor of similar success in the activity at the collegiate level. However, no evidence has been brought to bear supporting this claim. This paper uses the universe of American Forensic Association National Individual Events Tournament results from 2013 to 2018 and links collegiate competitors to their respective high school performance data. I demonstrate evidence that high school experience does, in fact, appear to play …

Nebraska Farm Real Estate Market Highlights 2019-2020, Jim Jansen, Jeffrey Stokes

Extension Farm and Ranch Management News

Introduction

The Nebraska Farm Real Estate Market Highlights 2019-20 report represents the 42nd edition to the annual series. These reports provide an important insight on agricultural land market dynamics for stakeholders across Nebraska. In today’s market, where market transactions exceeding $1 million dollars are the norm, objective market information and analysis is more critical than ever. The focus of the report continues to be on providing unbiased information for agricultural land values and rental rates so industry participants can make educated and informed decisions.

This year, the February 2020 survey of nearly 120 expert panel members from across the state …

Consumers Support A Slowing Economy, Eric Thompson

Business in Nebraska

Nebraska will record moderate economic growth during the forecast period but will lag U.S. growth. Like the national economy, growth Nebraska’s goods producing sector will struggle. Farm incomes will be flat from 2020 to 2022 after improving this year. Manufacturing employment also is expected to drop. However, most other sectors will expand, including services, finance and construction. Projected growth rates for 2020 to 2022 are presented in Table 1.

Employment will grow by 0.6% to 0.8% per year, below the national rate. Non-farm income will grow between 3.7% and 3.8% each year. This growth readily exceeds inflation and population growth, …

Updated Tables And Figures For Ec 844 Nebraska Wheat Prices And Basis Patterns, Jessica J. Groskopf, Cory Walters

Extension Farm and Ranch Management News

No abstract provided.

Updated Tables And Figures For Ec 846 Nebraska Cash Corn Prices And Basis Patterns, Jessica J. Groskopf, Cory Walters

Extension Farm and Ranch Management News

No abstract provided.

Updated Tables And Charts For Ec 845 Nebraska Cash Soybean Prices And Basis Patterns, Jessica J. Groskopf, Cory Walters

Extension Farm and Ranch Management News

No abstract provided.

Producer Services: A Hub For Stem And An Engine For Job Growth, Eric Thompson, Uyen Tran

Business in Nebraska

The producer services sector, which includes professional and technical services such as accounting, engineering, computer programming, advertising and consulting, is the fastest growing, high-wage segment of the U.S. economy. Producer services employment grew by 15 percent nationwide from 2008 through 2017 but only by 5 percent in Nebraska. Nebraska growth lagged the nation in part because the state has smaller metropolitan areas. Producer service businesses tend to congregate in larger cities. To grasp more opportunities in this growing, high wage sector, Nebraska needs to train more workers in STEM occupations, encourage the development of small businesses in the sector, and …

Nebraska Farm Real Estate Market Highlights 2018-2019, Jim Jansen, Jeffrey Stokes

Extension Farm and Ranch Management News

Introduction

The Nebraska Farm Real Estate Market Highlights 2018-2019 report represents the 41st edition to the annual series. These reports provide an important insight on agricultural land market dynamics for stakeholders across Nebraska. In today’s market, where market transactions exceeding a million dollars are the norm, objective market information and analysis is more critical than ever. The focus of the report continues to provide unbiased information on agricultural land values and rental rates so industry participants can make educated and informed decisions.

This year, the February 2019 survey of nearly 125 expert-panel members from across the state provided current information …

Women In The Early Years Of The American Economic Association: A Membership Beyond The Professoriate Per Se, Ann Mari May, Robert W. Dimand

Department of Economics: Faculty Publications

The records in the archives of the American Economic Association (AEA) located in the David M. Rubenstein Rare Book and Manuscript Library, Duke University, offer us a unique window into the role of gender in the struggle of economists to gain status and authority and allow us to better understand the role of gender in the professionalization of economics. While not replete with information about female economists in the early years of the AEA, the records offer important clues as to the challenges facing women academics, shed light on the formation of the profession, and reveal the influence of the …

Moderate Growth With A Stronger Industrial Sector, Eric Thompson

Business in Nebraska

Nebraska will record solid economic growth during the forecast period but will lag U.S. growth. While Nebraska’s large farming sector has stabilized, it will not contribute much to economic growth during the forecast period. Job growth also will be sluggish in transportation, retail trade and state and local government. Job growth, however, will be stronger in the services, finance, manufacturing and construction. Projected growth rates for 2018 to 2020 are presented in Table 1.

Employment will grow by 0.8% to 1.0% per year, below the national rate. Non-farm income will grow between 3.6% and 3.8% each year. This growth is …

2018 Updated Tables And Figures For Ec 845 Nebraska Cash Soybean Prices And Basis Patterns, Jessica J. Groskopf, Cory Walters

Extension Farm and Ranch Management News

No abstract provided.

2018 Updated Tables And Figures For Ec 846 Nebraska Cash Corn Prices And Basis Patterns, Jessica J. Groskopf, Cory Walters

Extension Farm and Ranch Management News

No abstract provided.

2018 Updated Tables And Figures For Ec 844 Nebraska Wheat Prices And Basis Patterns, Cory Walters, Jessica J. Groskopf

Extension Farm and Ranch Management News

No abstract provided.

Nebraska Snaps Back, Eric Thompson

Business in Nebraska

Nebraska will fully participate in stronger U.S. economic growth. While the farming sector will continue to face challenges, farm income will rise slightly during the forecast period, and consequently, will no longer detract from Nebraska economic growth. Nebraska will match U.S. job growth, with job growth particularly strong in services, construction, and retail trade. The agricultural processing sector also will expand employment. Projected growth rates for 2018 through 2020 are presented in Table 1.

Employment will grow by 1.1% to 1.2% per year, matching the national job growth rate in 2019 and 2020. Non-farm income will grow between 3.9% and …

Nebraska Monthly Economic Indicators: September 20, 2017, Eric Thompson

Leading Economic Indicator Reports

The Leading Economic Indicator – Nebraska (LEI-N) 1 fell by 0.38% during August of 2017. The decline in the LEI-N, which is designed to predict economic activity six months into the future, suggests that the Nebraska economy will grow slowly during the first few months of 2018. The drop in the indicator was primarily due to a decline in manufacturing hours-worked during August. Building permits for single-family homes and airline passenger enplanements also dropped slightly. There were two positive components of the LEI-N. Businesses responding to the August Survey of Nebraska Business reported plans to increase sales and employment over …

Nebraska Business And Consumer Confidence Indexes: September 1, 2017, Eric Thompson

Leading Economic Indicator Reports

Nebraska’s consumer and business confidence fell during August. The Consumer Confidence Index – Nebraska (CCI-N) stood at 100.9 in August, below the reading of 102.5 from July. Notably, the CCI-N remained above the neutral value of 100.0 during August. The outlook of Nebraska businesses remained strong. The Business Confidence Index – Nebraska (BCI-N) stood at 104.2 in August, close to the value of 105.1 during July, and well above the neutral value of 100.0. When asked about the most important issue facing their business, customer demand was mentioned by 35 percent of business respondents. Businesses also faced growing competition in …

Nebraska Monthly Economic Indicators: August 23, 2017, Eric Thompson

Leading Economic Indicator Reports

The Leading Economic Indicator – Nebraska (LEI-N) 1 rose by 0.56% during July of 2017. The increase in the LEI-N, which is designed to predict economic activity six months into the future, suggests that the Nebraska economy will grow through the first month of 2018. Four components of the indicator improved during July. Business expectations were solid and manufacturing hours grew. The value of the U.S. dollar continued its recent decline, a positive sign for Nebraska’s export-oriented businesses. Further, in a positive sign for the labor market, there also was a drop in initial claims for unemployment insurance. In terms …

Nebraska Business And Consumer Confidence Indexes: August 4, 2017, Eric Thompson

Leading Economic Indicator Reports

Consumer and business confidence remained strong in Nebraska during July but fell from June levels. The Consumer Confidence Index – Nebraska (CCI-N) stood at 102.5 in July after a reading of 104.7 during June. Despite the decline of 2.2, the CCI-N remained above the neutral value of 100.0, indicating strong consumer confidence. The outlook of Nebraska businesses also was strong. The Business Confidence Index – Nebraska (BCI-N) fell to 105.1 in July from 109.2 in June. The BCI-N remained well above the neutral value in July, despite the 4.1 point decline, which indicates that business confidence is also strong in …

Nebraska Monthly Economic Indicators: July 26, 2017, Eric Thompson

Leading Economic Indicator Reports

The Leading Economic Indicator – Nebraska (LEI-N) 1 rose by 2.75% during June of 2017. The rapid increase in the LEI-N indicates that the Nebraska economy will grow quickly at the end of 2017. All components of the indicator rose during June. Business expectations were strong while the value of the U.S. dollar fell, a positive sign for Nebraska’s export-oriented businesses. There also was a sharp increase in building permits for single-family homes during the month.