Skip to main content

Economics

All Economics Content

Sun rising over a vast spring landscape with green corn emerging from the soil.

Large Farms More Dominant in South Dakota Crop Production

Large farms play a more dominant role in South Dakota crop production, according to the recently released 2017 U.S. Census of Agriculture. As of 2017, large farms of more than 2,000 acres operate 66.8% of South Dakota total cropland aces compared to 47.7% as of 1997.

A collage of farmers from different time periods sharing information.

Effecting Change Towards Economic Growth

During 2018 the main driver for South Dakota's economic growth continued to be agriculture. It is still the number one industry, with almost $20 billion in impact yearly. In today’s uncertain economic environment, two things can help farmers succeed: information and knowledge.

Herd of mixed cattle grazing in a vast, open range. Courtesy: U.S. Department of the Interior Bureau of Land Management

Census of Agriculture Cattle Insights

The "2017 Census of Agriculture" is a valuable source for insights related to cattle operations at the state level. There were 13,928 operations across South Dakota with cattle in 2017, and the total inventory was 3,988,183 head.

South Dakota soybean late plant date map. View pdf map: https://legacy.rma.usda.gov/fields/mt_rso/2018/final/sdsoybeans.pdf  View text in Excel: https://legacy.rma.usda.gov/fields/mt_rso/2018/final/sdsoybeanstext.xlsx

Multi-Peril Crop Insurance: Delayed and Prevent Plant Choices

Crop insurance late plant dates are fast approaching for planting crops in South Dakota. The weather and soil conditions this spring will likely lead to some prevent plant situations for farm producers.

Round hay bales wrapped with net wrap in a stack.

How Will You Make Hay This Year?

With plenty of spring moisture, hay season will be here before you know it. Have you considered the type of binding material you will use to put up hay this year?

Graduation table display with photos, awards, and keepsakes. Courtesy: Matthew Beckler [CC BY-SA 2.0]

Graduation Presents

College and high school graduates have, or soon will be, walking across the stage and shaking hands President and receiving their diplomas. This act officially moves them on to the next stage of their lives.

various white charts and bar graphs on a blue background

Financial Measures for South Dakota Farms

Farm and ranch businesses have a sizeable investment in equipment, buildings, land, and livestock. These investments require their owners and managers to remain knowledgeable about the financial condition of their business. The information to calculate measures of financial performance can be found in their farm record books or accounting system.

A combine harvesting soybeans at dusk.

Field Studies: Blowing the Whistle on Marketing Claims

With technology surrounding today’s culture, data and marketing information has become a key part of life. The best way to determine if a product or practice is effective is to ask for the data and research backing a company’s claims. However, before a producer makes a decision, understanding the data and statistics is key.

a bare, freshly tilled field awaiting planting.

Field Studies: What do You Mean 5 Bushels Per Acre is Not Significant?

Utilizing sound research results to help make decisions on the farm is a wise business practice. It can be confusing, however, when you see two numbers that are clearly not the same labeled as “not significantly different.”

two side-by-side fields. The left is labeled "a". It has uniform rows and soil. The right is labeled "b". It has ununiform rows and varying soil quality.

Field Studies: Setting up a Trial

Increasingly, farmers are generating on-farm research data that encompasses a wide-range of practical topics. However, setting up those experiments so that the data is statistically valid is not necessarily common knowledge.