The current downturn in commodity prices has convinced many producers to take a closer look at their financial situation and make adjustments to better navigate the road ahead.
Kansas Agricultural Mediation Services has proudly supported producers for 28 years by providing agricultural financial counseling at reasonable rates through the mediation process. These services are delivered by K-State Research and Extension’s team of farm financial analysts. Each analyst has direct experience working in agriculture, whether through their own farm or ranch or by routinely working with producers through Extension programming. Continue reading “Persistent Low Prices Create a Need to Closely Examine Farm Financials”
Producers and landowners may be putting off transition given the constricting ag economy. However, according to farm financial analyst, Duane Hund, there’s no time like the present to plan for succession, “Now is as good a time as any to sit down with your family and examine what you want for the future. Human resources and the knowledge and skills they bring to tough situations, may be just what you need to make the operation endure.” In his work around the state, Hund sees many producers looking for an exit plan or figuring out ways to phase in the next generation so the operation can support multiple owners. “Establishing a plan now and revisiting it during the years to come can make all the difference in preserving the legacy your family worked hard to build.” Continue reading “Workshop Series to Focus on Succession Planning in a Challenging Farm Economy”
Dr. David Kohl, Professor Emeritus in Agricultural and Applied Economics at Virginia Tech, gave a webinar in July 2016, entitled “The Good, Bad and Ugly of Agriculture and Agri-Lending”. Dr. Kohl listed four key areas producers need to pay attention to: 1) keep open lines of communication with spouse, partners, lenders, and agribusinesses; 2) “sweat the small stuff” as there is no silver bullet; 3) develop and use a team of advisors and keep education a top priority; 4) do a variance analysis or stress test with respect to projected vs. actual income and expenses. Continue reading “Enduring the Down Cycle in Agriculture”
A trusted online resource for the Kansas ag community received a facelift recently. Hosted by Kansas State University’s Department of Agricultural Economics, AgManager.info provides a clearinghouse of information from the department’s applied research into ag economic and management issues.
AgManager.info is updated weekly with contributions from experts in production, marketing, farm management, crop insurance and policy. Content highlights include:
- Grain basis database tool with over 800 locations in the Central Plains
- Livestock and beef demand charts and tables
- Annual land values and rental rates for Kansas
- Interactive maps with projected ARC-County payments
- Farm management guides for irrigated and non-irrigated crops
Continue reading “AgManager.info Redesigns Site, Increases User Capabilities”
Women increasingly represent central roles in the agricultural heritage that builds and sustains communities throughout the world. According to the 2012 Census of Agriculture, they are the principal operators of 6,783 farms in Kansas, and there are 25,611 total women farm operators in the state. With consideration for the many important roles women have in agriculture, leaders from various ag organizations established the Women Managing the Farm Conference to encourage women to come together and develop the knowledge and skills needed for success in a competitive agricultural environment.
Continue reading “Her AgriCULTURE Story: Change, Adapt, Grow”