Jessica Groskopf, a Nebraska Extension agricultural economist, discusses one approach to wealth transfer and estate planning within farming families. Jessica has just published the third article in a series that highlights different tactics for bringing family members into the operation.

This episode focues on the concept of combining gifting with lease agreements as a means of transferring assets between generations while ensuring the viability of the farm or ranch. This not only addresses the complexities of estate planning but also maintains the standard of living for all parties involved.

Find more, including the full series of articles, at https://cap.unl.edu/succession/ideas-estate-and-transition-planning-gift-leaseback

Glennis McClure, an Extension Educator and FARM and Ranch Management Analyst with the University of Nebraska-Lincoln, joins to discuss the intricacies of farm and ranch operations’ financials at the start of the year. She talks about her new article on why traditional tax documents might not tell the full story of a farm's financial health and how accrual adjustments can offer a clearer picture.

Read more: https://cap.unl.edu/finance/net-farm-income-impacts-net-worth-growth

On this episode, we look at a critical decision point for cow-calf producers: whether to retain heifers for herd replacement or to opt for purchasing them. This decision can have implications on the operational goals, finances, and the herd’s genetic future for cow-calf operators. To explore what to consider in this decision-making process, we're joined by TL Meyer, a Livestock Systems Educator with Nebraska Extension, who has just authored a new article on the topic.

Read more at https://cap.unl.edu/livestock/retain-not-retain-heifer-dilemma

We learn about the work of Buy Fresh Buy Local Nebraska to connect Nebraskans to local farms and foods amid their 2024 membership drive. The organization, based at the University of Nebraska-Lincoln, offers members inclusion in their popular local food guide, published annually and distributed across the state. Interim Coordinator Charlotte Narjes joins to discuss.

Read more about the membership drive here or visit the Buy Fresh Buy Local Nebraska website.

Bringing children into the operation is the goal for many farms and ranches, but it can require some creative approaches so that everyone involved can earn a living. Jessica Groskopf, an extension educator and agricultural economist with the Center for Agricultural Profitability, is writing a series of articles for our website, cap.unl.edu, detailing ideas to help this transition process. She joins to discuss her first article in the series, about monetary compensation for family members.

Read more: https://cap.unl.edu/management/paying-family-members-farm-or-ranch

Dave Aiken, professor and extension agricultural law specialist at Nebraska, discusses two bills dealing with alien land ownership restrictions that have been introduced in the 2024 Nebraska legislative session.

https://cap.unl.edu/policy-legal/foreign-land-ownership-bills-introduced-nebraska-legislature-podcast

Applications for cooperative business development mini grants are now being accepted for 2024 by the University of Nebraska-Lincoln’s Nebraska Cooperative Development Center. The mini grants are available to both existing cooperatives and groups who are exploring or developing cooperative business models. The application is open through February 15th. UNL Cooperative Development Specialist Cindy Houlden joins to discuss.

Find out more and apply on the Nebraska Cooperative Development Center's website, https://ncdc.unl.edu.

On this episode, we elve into the crucial realm of strategic planning within the agricultural sector, and establishing the vision and mission for an agribusiness. In an industry buffeted by the winds of economic change, environmental unpredictability, and technological advancements, having a strategic plan can act as a map through the uncharted territories of future market landscapes.

Larry Van Tassell, professor of Agricultural Economics at the University of Nebraska-Lincoln, and Director of the Center for Agricultural Profitability has authored a new article on the importance of strategic planning and we’ll discuss the art of transforming uncertainties into opportunities, the importance of understanding one's mission, and the need for assessing the ever-evolving external environment that shapes your farm's future.

Read more: https://cap.unl.edu/management/importance-strategic-planning-farmers-and-ranchers

Glennis McClure, a Farm and Ranch Management Analyst with Nebraska Extension, discusses her new article on Figuring Field Operation Costs Using the Agricultural Budget Calculator Program. In it, Glennis explores the use of UNL’s Agricultural Budget Calculator (ABC) Program, a tool designed to assist producers and custom operators in calculating machinery field operation and ownership costs. By comparing newer and older equipment, the article provides valuable insights into how these calculations can influence decisions regarding machinery upgrades and their impact on production costs.

Read more: https://cap.unl.edu/abc/machinery

In this episode, we'll continue discussion about the complexities of the farm bill and current state of agricultural policy. After passing an extension of the 2018 farm bill in late 2023, Congress gave itself another year to enact updated legislation, but debate is expected to continue as competing interests show few signs of compromise so far. In his latest monthly policy column for Nebraska Farmer Magazine, UNL Extension Associate Professor and Policy Specialist Brad Lubben looks into these competing interests and ongoing policy debates surrounding the farm bill, and the impact on Nebraska's agricultural community.

Read more: https://cap.unl.edu/policy-legal/new-farm-bill-remains-difficult-goal-2024