This episode dives more into decision-making in agriculture, focusing on a powerful tool that can help farmers navigate the complexities and uncertainties they face. Jay Parsons, a professor in Nebraska’s Department of Agricultural Economics and Director of the Center for Agricultural Profiability, joins to discuss his article "Branching Out: Harnessing the Power of Decision Trees." It is co-authored with John Hewlett at the University of Wyoming and Jeff Tranel at Colorado State University, and first published in the July 2024 edition of RightRisk News, which you can find at rightrisk.org. The article delves into how decision trees can aid agricultural producers in making more informed choices amidst risk and uncertainty.

More: https://cap.unl.edu/management/decision-trees-branching-out

Anastasia Meyer, an agricultural economist with the Center for Agricultural Profitability, discusses her new article on estate planning, which focuses on stepped-up tax basis and its role in estate planning. She talks about how this adjustment can significantly reduce capital gains taxes for heirs and explores its implications for the transfer of farmland and other assets to the next generation.

This year’s Nebraska Farm Real Estate Market Highlights Survey, recently published by the University of Nebraska-Lincoln, includes a special feature section that takes a closer look at the emerging trends and considerations for cover crops and their implications on lease arrangements. Jim Jansen, an ag economist with UNL and co-author of the annual real estate report, delves into these findings and explores the motivations and benefits of cover crops for landowners and operators across the state.

Read more: https://cap.unl.edu/land/cover-crop-utilization-implications-cropland-lease-arrangements-2024

A recent Supreme Court ruling overturning the 1984 Chevron doctrine put a stop to the decades-long precedent that federal courts defer to federal agencies for interpreting statutory provisions set by Congress, and the Farm Bill could be one of the first tests of the decision’s impact. Brad Lubben, extension policy specialist and associate professor with the Center for Agricultural Profitability wrote about the ruling and its possible implications in his Policy Report column for Nebraska Farmer Magazine’s August issue. He joins to discuss more on this episode.

Read more: https://cap.unl.edu/policy-legal/what-does-supreme-court-chevron-doctrine-ruling-mean-ag

Jessica Groskopf, an ag economist with Nebraska's Center for Agricultural Profitability and Nebraska Extension, has continued her series of articles that looks at creative ideas for estate and transition planning with a new publication on gifting ownership of the farm or ranch business.

She discusses gifting ownership shares, considerations for ownership transfer, and the importance of planning for both the current and future generations.

Read more at https://cap.unl.edu/succession/ideas-estate-and-transition-planning-gifting-ownershiphttps://cap.unl.edu/succession/ideas-estate-and-transition-planning-gifting-ownership.

The 2024 Nebraska Custom Rates Report, which offers insights for agricultural producers and service providers, is now available through Nebraska Extension and the University of Nebraska-Lincoln’s Center for Agricultural Profitability. The report, published at cap.unl.edu/customrates, compiles survey data from 159 respondents, providing current market rates for 138 different custom operations and services across Nebraska.

This comprehensive resource serves as an essential guide for those offering and seeking custom agricultural services. While the report offers a detailed overview of market trends, custom service providers are encouraged to consider their own operational costs when determining their rates.

Glennis McClure, a farm and ranch management analyst with the Center for Agricultural Profitability, discusses this year's report and how it can be used by custom operators and those who pay for custom work.

More at: https://cap.unl.edu/management/2024-nebraska-custom-rates-what-charge.

The higher interest rates that were established to counter inflation a couple years ago are persisting into 202, continuing to affect agricultural producers. On this episode, Jay Parsons, professor and farm and ranch specialist at the University of Nebraka-Lincoln, discusses how these economic pressures are impacting crop production, machinery purchases, and cattle herd rebuilding efforts. How do these rates stack up historically and what do they mean for producers trying to navigate these financial challenges this year?

Read more at https://cap.unl.edu/finance/what-do-ongoing-high-interest-rates-mean-ag-producers.

The quest in Congress to pass a new farm bill continued on May 23 when the House Agriculture Committee finished their markup on the bill after a long session that saw major amendments proposed by the minority fail, leaving a bill generally resembling the one that was introduced. Dr. Brad Lubben, an agricultural policy specialist with the Center for Agricultural Profitability wrote about how this signifies the “starting line” for the bill’s ultimate passage in his policy report column for Nebraska Farmer. He discusses what this step means and what the road ahead now looks like for the Farm Bill.

Read more at https://cap.unl.edu/policy-legal/farm-bill-just-making-it-across-starting-line.

What's the impact of cover crops on the profitability and sustainability of livestock systems?

Dr. Jay Parsons, a professor and farm and ranch management specialist and director of the University of Nebraska-Lincoln’s Center for Agricultural Profitability, discusses a new USDA Economic Research Service report on the integration of cover crops into livestock operations, highlighting the economic and environmental benefits.

Read more and find the full report at https://cap.unl.edu/livestock/nebraska-researchers-contribute-study-cover-crops-livestock-operations.

The newly published Nebraska Feedlot Labor and Management Survey Report, by Nebraska Extension and Nebraska Cattlemen, looks at data through 2021 and reveals significant changes in labor costs, compensation, and management practices within Nebraska's feedlot industry over the past few years. To discuss the key findings from the survey, including the challenges and trends feedlot operators face in navigating labor costs and industry shifts, is Dr. Elliott Dennis, assistant professor in the Department of Agricultural Economics and Extension Livestock Marketing Specialist at Nebraska, and a co-author of the report.

Find the report at https://cap.unl.edu/feedlotlabor21.