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Economics

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I-29 Moo University

Financial Impairment on the Farm Webinar offered July 30

July 08, 2019

The I-29 Moo University consortium of Extension dairy specialists from Iowa, Minnesota, Nebraska and South Dakota will host a Financial Impairment on the Farm webinar from 12:00 p.m. to 1:00 p.m. on July 30, 2019. The webinar is free and open to all those involved in production agriculture, specifically producers and agri-business personnel.

Economics

A graph indicating rising corn yields and generally steady corn acreage from 1926 to 2016/2017.

Leveling the Playing Field for U.S. Corn

Corn grain has been for a long time the world standard when it comes to energy feeds for livestock. It has been traditionally a quite homogeneous, energy-dense feed, only surpassed from this perspective by oils and fats or by other feedstuffs also rich in lipids.

Color-coded map of South Dakota and other Midwestern states. Colors indicate a higher risk of unplanted areas in Eastern and Northeastern South Dakota.

Stretching Corn Silage Supplies

During the 2002 drought there was a need to stretch corn silage supplies as a result of the drought that affected the U.S. Now we deal with the opposite scenario, where excessive spring rains have not allowed farmers to get to the fields. In both situations livestock producers face challenges.

Diagram showing increasing harvested acres of corn and soybeans and decreasing harvested acres of wheat in South Dakota. Other crops remain steady, while hay decreased and then slightly increased.

Crop Diversity Reduced in South Dakota

The recently released 2017 Census of Agriculture data shows that South Dakota has experienced a considerable increase in acreage harvested of two major crops, corn and soybeans over the past decade.

sun rising over South Dakota field

SDSU Extension Ag Economics Dialogues Webinar Focus on the 2018 Farm Bill Commodity Safety Net Decisions & Market Outlook

June 04, 2019

SDSU Extension will host Ag Economics Dialogues Webinar, which will focus on the 2018 farm bill commodity safety net decisions and market outlook, June 14, 2019 from 10 a.m. to Noon (central). In addition to the webinar, the Ag Economics Dialogues will be held live in Sioux Falls at the SDSU Extension Regional Center (2001 E. 8th Street).

Markets/Prices, Corn, Field Pea, Flax, Oats, Oilseed, Pulse Crops, Sorghum, Soybean, Sunflower, Wheat, Economics

A pen and calculator sitting next to an accounting binder.

Bookwork, The Missing Management Component: Consistency of Financial Records

Consistent record keeping will allow for accurate ratios and trend analysis. While operations will change, grow, or contract, having a standard operating procedure will allow for analysis and decision-making.

A male with three female farm administrators reviewing a binder of financial records. Courtesy: USDA

Bookwork, The Missing Management Component: Balance Sheet Valuations

The financial crash of the 1980’s has been attributed to changes in producer’s balance sheets, due to a decline in land prices. After this time, a two-column balance sheet was developed to help prevent that type of balance sheet collapse from occurring in the future.

Farmer sitting inside the cab of a green tractor parked inside a machine shed.

Bookwork, The Missing Management Component: Depreciation Determination and Use

Another component of determining net income is depreciation. This is one component of the Schedule F that many understand the least. Typically, the most use it gets is to minimize income tax through accelerated tax depreciation under section 179.