South Dakota producers can use the SDSU Extension Net Income Tool to monitor their expected net income per acre given their location, commodity of interest, and changes to market prices. The tool gathers the most-recent end-of-day market prices to determine the latest expected net income for wheat, corn, and soybeans in the different regions of the state.
Planting decisions for this spring are complicated given the recent spread of COVID-19. A very busy planting season is approaching quickly. Input suppliers and farmers will be met with a requirement to complete tasks timely to evade economic losses from delays.
COVID-19 infection and mortality rates fill the news programs. Across South Dakota and the nation, people are have made changes to their lifestyle and the way they accomplish many everyday activities. In response to this illness and the potential for long-term hospitalization and even death, individuals over 18 should also ensure their end of life documents are up-to-date.
Grain farming is facing a reduced income outlook for 2020. Unpriced old crop revenue has decreased and projected revenue for 2020 crop is reduced. Offsetting these decreases are chances that some input prices may fall, fuel related expenses and possibly higher payments from commodity title programs.
This is the second article of a two-part series examining cash flow and income for South Dakota grain farms. This article will look at crop insurance, prices for 2020 crops, and changes in input prices.
COVID-19 has affected the market availability for finished cattle and hogs. Some beef and pork processing facilities have closed for cleaning and social distancing of their employees. While some of these facilities have scheduled a date to reopen at reduced capacity, others remain closed with no announced plans to resume operations.
In abnormal situations, like with the packing plant closure we’re currently dealing with, pork producers may need to “hold” their pigs past normal marketing dates in order for other processing options to open up. We can accomplish that in two ways: altering internal barn environment and changing diets.
With the rising costs of certain feed supplements, uncertainty in the markets, and fear of the unknown, using an estrus synchronization protocol may be the last thing on producers’ minds. However, there is still opportunity to incorporate estrus synchronization without breaking the bank.
Feed costs in dairy diets typically make up half or more of the input expenses of a ration. Thus, it is imperative to keep a handle on input costs by comparing ingredients on an apples-to-apples basis when looking for cost-effective diet solutions.