Net Farm Income Expected to Drop 12% This Year, USDA Says

By: Tony Dreibus, Successful Farming

Net farm income, a gauge of profits, is expected to drop 12% year-over-year in 2018 amid low crop prices and rising expenses, the U.S. Department of Agriculture (USDA) said in a report on Friday.

Profits are pegged at $66.3 billion this year, down from $75.4 billion in 2017, according to the USDA’s Economic Research Service (ERS). Adjusted for inflation, the decline will be 14%. Continue reading

The Farm Economy: How Bad Is It?

By: Brent Gloy, Agricultural Economic Insights

Maybe it’s just me, but it seems that there have been a large number of recent articles in the press about the negative situation in the farm economy (for example 1234you get the idea).  This was further driven home when a friend recently called to ask just how bad economic conditions are on the farm. I thought it might be a good time to provide some analysis of the current situation.  Continue reading

Balance Quality, Quantity to Help Your Hay Crop ‘Catch Up’

By: Vermeer’s Makin Hay Editors

Severe blizzards, drought and rangeland fires were major storylines for hay and forage producers and cattlemen in the months leading up to spring 2018, when alfalfa and other forage crops started their growth cycles for the year.

Those challenging conditions led to shortages of necessary feed sources for many livestock producers, causing them to purchase more hay than normal or seek alternative stocks to get their herds through the winter. That caused a spike in prices, with some types of hay selling for almost twice the normal price in late winter and early spring. Continue reading

Management Implications from the Scientific Journals

by: Brian E. Roe, Van Buren Professor, AED Economics, Ohio State University Leader, Ohio State Food Waste Collaborative

Sometimes good management advice is difficult to parse from cutting edge academic research.  Below I share a few articles I’ve run across from my reading of the journals that might have some ready implications for managers across the state Continue reading

Western Ohio Cropland Values and Cash Rents 2016-17

by: Barry Ward, Leader, Production Business Management & Director, OSU Income Tax Schools OSU Extension

Ohio cropland values and cash rental rates are projected to decrease in 2017. According to the Western Ohio Cropland Values and Cash Rents Survey, bare cropland values in western Ohio are expected to decrease from 4.4 to 8.2 percent in 2017 depending on the region and land class. Cash rents are expected to decline from 1.4 percent to 4.2 percent depending on the region and land class. Continue reading