Jay Parsons

Jay Parsons is a professor and farm and ranch management specialist in the Department of Agricultural Economics.

Managing Risk with Annual Forages

Listen: Nebraska FARMcast

Sunflower stands among cover crops.

Evaluating Risk Strategies with Decision Trees

This article was first published by RightRisk News.

Risk strategies are often a complex sequence of decisions completed over a period of time with new information collected along the way. A decision tree or decision flow diagram is a very useful tool in that it can provide a clear graphical representation of these risky decision problems.

Decision Trees

Rain drops on camera lens looking onto field.

Depreciable vs. Non-depreciable Assets: Where Should I Invest?

This article was originally published in the April 2021 edition of RightRisk News.

We commonly assume rational decision-makers make investment decisions based on projected impacts on wealth. However, people often decide based on the implied cash flow trajectory and perceived changes in risk. 

Combine in field.

Proactive and Quality Decision-making in Agriculture

Listen: Nebraska FARMcast

Woman driving through cattle pasture.

Watch: Preparing to Make Decisions During a Drought

As part of this month's Drought Management BeefWatch Webinar Series, Jay Parsons presented a webinar on March 2, highlighting decision-making and the importance of early planning. He outlined a process for being better prepared to make decisions in stressful situations, creating better alternatives, and avoiding common pitfalls. Watch the webinar and find the presentation slides below.

Register for upcoming webinars in the BeefWatch webinar series here.

Screen shot of webinar.

Cash Rent vs. Mortgage Payments: Which is Best for Me?

This article was originally published in the February 2021 edition of RightRisk News.

Land costs can make up a significant portion of the cost of production for many commodities. For example, see the 26 recently published University of Nebraska- Lincoln corn budgets for 2021 at farm.unl.edu. Land costs comprised an average of 30 percent of the total costs for growing corn across these estimates. Similarly, the summer pasture costs comprised 29 percent of the total annual herd costs across five cow-calf budgets published in 2019 at the same website.

Two red barns in fall field.

Cornhusker Economics: The Livestock Indemnity Program: A Case for Managing Risk with Good Recordkeeping

Keeping good records is an important risk management tool for agricultural producers. Good records provide accurate, complete and consistent information that leads to better decision making. Good records also keep the farm or ranch operation in a good position to participate in USDA programs when those opportunities are available.

Closeup of cow.

Year-end Financial Analysis and Tax Management Strategies

This article was originally published by RightRisk News

The end of each year is a critical time for wrapping up financial records and planning next year. A business owner should be questioning if the business made money? Where might revenues have been increased and expenses cut? What enterprises or departments generated profits or losses? Are there strategies for reducing tax liabilities?

Computers and forms.

Livestock Risk Protection Insurance Changes to Become Even More Appealing for Producers

This was first published by RightRisk News on Oct. 22, 2020.

Closeup of cow grazing on pasture.

Fitting Annual Forages in a Crop Rotation

This article was first published by Progressive Forage on Sept. 30, 2020. It is an updated version of an article first published by RightRisk News in June 2020.

Closeup photo of oats standing in field.