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Farm and Ranch Management Updates

Crop Insurance Workshop Planned

Nebraska Extension and planning partners from Kansas State University, Oklahoma State University and Colorado State University are holding crop insurance workshops in November.
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August Dairy Budget

The total gross income in the August 20,000 pound dairy budget rose by just over $154. The income from protein rose by $409 while the negative PPD led to $168 loss in income. Gross feed cost declined by about $161, most of that from the decline in hay prices. All 3 of the 4 budgets show a positive return to management. Only the 20,000 pound tiestall budget had a negative return to management for August 2016.
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Payoff of Corn/Soybean Rotation in Western Nebraska

Corn and soybeans are the two most common crops grown in Nebraska. Some farmers in the western part of the state plant continuous corn with few that plant continuous soybeans. In most cases some type of corn/soybean rotation is practiced. Idealistically speaking crop rotations should be producer and site specific, matching physical geography, resource availability and management capability. This work focuses on the difference in profitability among four possible rotations.
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Partial Budgeting: Making Incremental Farm Business Changes

Business owners must often make decisions about changes for their agricultural businesses. Many of the decisions are incremental, such as adding land, expanding or reducing, adding or changing how an enterprise is managed. Analyzing the whole farm impacts for these types of changes is unnecessary. The partial budget is a useful analytical tool for agricultural managers, operators, owners, and investors when these situations arise. A partial budget helps agricultural owners/managers evaluate the financial effect of incremental changes.
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July Dairy Budget

Compared to June, the July 2016 NE-IA dairy budget showed a very good improvement. The improvement came from both increased income and reduced feed costs. Gross income rose by over $20 per month per cow and feed costs dropped by about $13.25 per cow per month. For a total improvement of $33.25 per cow per month. The higher income came from increased butterfat, protein, other solids and quality price. However, the cull cow price dropped as did the PPD. All feed prices dropped, except fat. The net improvement is $1.73 per cwt.
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Nebraska Livestock Expansion Policies

Livestock expansion in Nebraska is often contentious. Supporters of livestock expansion accomplished a major policy objective in the 2016 legislative session with the adoption of LB176 which authorizes swine processors to contract with producers to grow processor-owned hogs. In addition, the draft LB106 livestock site assessment zoning matrix was released this summer. This newsletter explores the possible impact of these developments for expanded livestock production in Nebraska.
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Working Capital is Disappearing

Why is everyone talking about working capital? It seems just about every farm management topic/article/presentation is talking about working capital these days. We’ve heard experts talk about “Cash is King” for years but why is it really important?
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June Dairy Budget

The June IA-NE dairy budgets improved slightly but both freestall budgets are in negative territory. Total income rose slightly, $0.16 per day, as did feed costs, $0.011 per day. The 20,000 pound freestall budget was $2.32 per cwt underwater, the 24,000 pound budget was $0.85 per cwt underwater. 85% of gross income was used up in variable costs not including labor costs. Adding in hired labor, $2.53, total costs are above gross income by $0.21 per cwt. Thus dairy farms are having difficulty pay all cash expenses.
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Nebraska Farm Custom Rates

Every two years a survey of custom operators is conducted to determine the current rates charged for specific machinery operations. The survey is divided into two parts. Part I includes the spring and summer operations such as planting and harvesting of small grains, and Part II includes information about fall and miscellaneous operations.
Read more in Cornhusker Economics

Part I
Part II

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May Iowa-Nebraska Dairy Budget

The returns to milk production worsened by 84 cents/cwt. for the 20,000 pound freestall budget and 89 cents for the 24,000 pound freestall budget. The reason is a combination of higher feed costs and lower income. The 20,000 pound freestall budget had almost $0.50 less gross income per cwt. Even though most prices making up the milk price rose from April to May, the protein price declined by $0.3515 per pound. Rising feed costs also drove the worsening budget. The 20,000 pound budget had $0.311 per cwt. higher feed costs than in April.
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