While children in farm families often seek out different paths when they graduate from high school or college, many want to come back to work on the operation. But finding a place for them and generating the cash flow to pay for it, takes some planning. 

To discuss what it really takes to employ more family members, and business strategies to set the farm up for success with future generations, is Dr. Larry Van Tassell, director of the Center for Agricultural Profitability and head of the Department of Agricultural Economics at the University of Nebraska-Lincoln. 

Read more: https://cap.unl.edu/management/adding-another-family-member-farm-payroll.

When it comes to farm leases, having a verbal, or “handshake” agreement in place, rather than a written document, can present challenges for all parties involved. Jessica Groskopf, an agricultural economist with the Center for Ag Profitability, has a new article on our website, cap.unl.edu, that provides an overview of written leases and, in particular, the termination dates associated with them under Nebraska law.

Read more: https://cap.unl.edu/land/terminating-verbal-farmland-lease-0.

Managing risk in an agricultural operation is a never-ending job. Available information related to tools like marketing contracts and crop insurance is constantly changing. Given the state of constant change and uncertainty, it’s important for operations to work to create a good risk management culture, where everyone manages risk on a day-to-day basis in a positive and timely manner. That’s according to Jay Parsons, professor and farm and ranch management specialist with the Center for Ag Profitability here at UNL. He has a new article on our site that offers five key principles for a good risk management culture.

Read more at https://cap.unl.edu/management/five-key-principles-good-risk-management-culture.

Beef clow slaughter numbers have been elevated so far in 2022, but, as UNL Livestock Economist Elliott Dennis points out in a new article posted to our website at cap.unl.edu, the rate at which slaughters have occurred has been puzzling. Dr. Dennis discusses what factors may be incentivizing the sell-off of cows and what this means for 2023’s calf crop and beef production going into the next few years.

Read more: https://cap.unl.edu/livestock/beef-slaughter-and-price-relationship-amid-2022-economic-conditions.

As the newly released UNL Nebraska Farm Real Estate report indicated, agricultural land values in the state have continued to climb this year, reaching an all-land statewide average of $3,360 per acre – a 16% increase over last year. These increases are being seen across the region as well, with the Federal Reserve Bank of Kansas City recently reporting some cropland increases as high as 32% over last year. Jim Jansen, an extension ag economist with the Center for Ag Profitability, discusses cropland values across the central U.S., and what’s driving the increases.

Read more: https://cap.unl.edu/land/cropland-values-central-us-show-strength-2022.

The 2021 Nebraska Rural Poll, conducted by the University of Nebraska-Lincoln, looked at the levels of trust rural Nebraskans have in local and national media sources. To discuss the findings, and how trust in media has changed across the state since the rural poll last gauged this in 2017, is Becky Vogt, survey research manager for the Nebraska Rural Poll.

Read more at https://cap.unl.edu/rural/changes-trust-media-rural-nebraska.

High commodity prices and good yields contributed to a rise in net farm income and improvement in profitability across Nebraska last year for many agricultural operations. Many of those businesses experiencing improvements in liquidity, but there could be challenges for them in protecting that liquidity. That’s according to Tina Barrett, director of Nebraska Farm Business, Incorporated, which provides financial analysis, business planning and tax services to over 400 clients in agriculture across the state. She joins the podcast to discuss more about what their 2021 data reveals about the financial standing of farms in Nebraska.

Read more at https://cap.unl.edu/finance/protecting-liquidity-tax-planning.

During the summer months that tend to be a busy time for cows, nutrient demand are high, which can create a bad situation for the cows when pasture conditions are poor due to drought. For more on maintaining condition on cows while stretching pasture resources, we hear from Dr. Karla Wilke, professor of animal science at the University of Nebraska-Lincoln.

Read more at https://cap.unl.edu/livestock/when-drought-stressed-pastures-look-dormant-july.

Trust is an important part of any business relationship and that’s perhaps even more true – and maybe more essential – in farm businesses, where families often work together. Many farmers know and ranchers know well that family relationships can impact the family business, and vice-versa. On this episode, with some tips on how to build and keep trust to maintain a functioning business and, more importantly, a functioning family, is Allan Vyhnalek, an extension educator for farm and ranch transition and succession with the Center for Ag Profitability at Nebraska.

Read more at: https://cap.unl.edu/succession/without-trust-how-does-family-function.

When fences become damaged following a disaster, it’s important for landowners and livestock owners to be aware of Nebraska fence law and considerations – including for possible replacement assistance -- as the damage is assessed. Jessica Groskopf, an agricultural economist with Nebraska Extension and the Center for Agricultural Profitability at the University of Nebraska-Lincoln, discusses

Read more at https://cap.unl.edu/management/rebuilding-fences-after-disaster.