On October 12, 2021, the Center for Agricultural Profitability at the University of Nebraska-Lincoln held the first of two webinars focused on the current state and potential growth of the meat processing industry in Nebraska, which focused on financial and legal issues associated with developing a new meat processing plant.

It was presented by Elliott Dennis, assistant professor of livestock marketing and animal health at the University of Nebraska-Lincoln; Charlie McPherson, Center Director with the Nebraska Business Development Center at the University of Nebraska at Omaha; and Dave Aiken, Professor and agricultural and water law specialist at the University of Nebraska-Lincoln.

This episode is a short conversation between these three presenters summarizing the main points discussed in the webinar. The full recording is available to view in the Center for Ag Profitability’s webinar archive on our website, and at cap.unl.edu/processing.

Alongside recent increases in commodity prices, crop producers are experiencing cost of production cost increases, especially when it comes to fertilizer. To discuss strategies producers can use to help profitability next season is Matt Stockton, an agricultural economist and extension specialist here at the University of Nebraska-Lincoln.

Read more in Stockton's analysis at https://cap.unl.edu/crops/fertilizer-prices-forecasted-continue-increase-what-know.

For cattle producers, winter often means deciding whether standing forage can be grazed, or if hay must be fed. Dry conditions can limit winter grazing and drive up the value of the resources that are available. To discuss how winter feed can offer a more affordable, alternative option, and tell us about one tool that the University of Nebraska-Lincoln offers to assist in feed decisions, is Randy Saner, a beef systems extension educator with Nebraska Extension.

Read more: https://cap.unl.edu/livestock/grazing-corn-residue-can-be-economical-winter-feed-source-cows.

Along with the recent rise in commodity prices, producers have seen increasing input prices, illustrating the importance of knowing your operation’s cost of production. To discuss how cost-of-production budgets can assist crop producers in getting a handle on their finances, is Cory Walters, a professor and grain marketing specialist, and Glennis McClure, a farm and ranch management analyst. Both work in the Department of Agricultural Economics at the University of Nebraska-Lincoln.

Read more: https://cap.unl.edu/crops/2022-cost-production-increases-expected-profit-and-navigating-riskier-financial-environment.

With the 2021 harvest season upon us, it’s a good time to start thinking about what our farming operations will look like next year and in the years to come. Two new programs started this year to support both beginning farmers and retiring farmers with the transition to the next generation. Nebraska Land Link is a program matching new and beginning farmers who are seeking land with retiring landowners who do not have a successor. And the Returning to the Farm workshop, beginning December 10th and 11th, will support families brining members back to the farm with developing relationships and business structures for successful transition of the operation. 

Nebraska Extension Educator Allan Vyhnalek specializes in farm and ranch succession education and is working with both programs. 

Read more at https://cap.unl.edu/succession/new-programs-beginning-and-retiring-farmers.

The University of Nebraska-Lincoln’s 2020 Nebraska Rural Poll found that most rural Nebraskans were financially resilient, with enough savings to cover a possible emergency. But the COVID-19 pandemic has impacted Nebraskans in many ways, including the temporary or permanent closure of businesses, layoffs, and new methods of operating. For more on how some groups of rural Nebraskans have been financially impacted by the pandemic, Becky Vogt, survey research manager for the Nebraska Rural Poll, joins the podcast. 

Read more at https://cap.unl.edu/rural/financial-impacts-pandemic-rural-nebraska. 

Two current drivers of the fed cattle market are domestic red mean demand and corn prices. With December pre-plant corn prices hovering around 70 cents per bushel higher than the five previous December corn contracts, that means higher feed costs on feedlots. And, even with red meat prices rising at the grocery store, consumer demand continues to be strong, creating incentives to continues placing cattle, even amid concerns about packing plant capacity.

Elliott Dennis, assistant professor of livestock marketing and risk management in the Department of Agricultural Economics, joins to discuss heavier feeder cattle placements and meat processing plant issues.

While President Biden’s proposed Clean Energy Standard is being debated in Congress, it seemed like a good time to review state clean energy policies. Most states have adopted some type of major clean energy policy. Nebraska is among the 11 states that have not adopted a state clean energy policy. Professor Dave Aiken, an agricultural and water specialist in the Department of Agricultural Economics at the University of Nebraska-Lincoln discusses. 

More at https://cap.unl.edu/policy-legal/nebraska-clean-energy-policies-0. 

In March of this year, one-time federal funding was allotted to communities and counties in the U.S. through the American Rescue Plan Act. The funds are directed for use in pandemic recovery efforts and to help communities become for resilient. They must be used by December 31st, 2026, meaning that community leaders have time to gather input from local citizens about the best use of the funding. To discuss this opportunity that counties and communities have to engage their residents is Marilyn Schlake, an extension educator with Rural Prosperity Nebraska at the University of Nebraska-Lincoln.

Read more: https://cap.unl.edu/rural/engaging-community-members-use-pandemic-relief-funds. 

With rising pasture rental rates and potential environmental and economic benefits, converting cropland to perennial grass pastures is an option that should be considered by those looking for an opportunity to diversify their operation. For more on the economic considerations associated with this conversion, Daren Redfearn, professor and forage and crop residue specialist in the Department of Agronomy and Horticulture at UNL, joins the podcast. He has authored a new article on the topic, along with Agricultural Economics professor Jay Parsons, available here: https://cap.unl.edu/crops/economic-considerations-converting-cropland-perennial-grazing-lands.