Budgeting helps guide you through your decision making process as you attempt to commit resources to the most profitable enterprises on the farm. Crops or livestock? Corn, soybeans, wheat, hay? We can begin to answer these questions with well thought out budgets that include all revenue and costs. Without some form of budgeting and some [...]
Crop profitability prospects for 2013 are positive for the three major row crops in Ohio. Input costs have increased from last year, but high crop futures prices for 2013 crops will allow producers to plan for positive margins next year. OSU Extension enterprise budget projections show positive returns for corn, soybeans and wheat in 2013. [...]
COLUMBUS — Cropland values in Ohio have increased again in 2012. Data from the Oho Ag Statistics Service shows an increase of 13.6 percent for bare cropland in Ohio for 2012. According to their data, bare cropland averages $5000/acre, up from $4400/acre the previous year. An OSU Extension survey conducted in December 2011 estimated that [...]
Significant drought conditions in many parts of Ohio have led to an increased interest in harvesting corn as silage. With very few farmers owning silage-making equipment, many are looking to neighbors that do own silage harvesting-equipment or professional custom farming providers to help them meet their needs. Questions arise about custom farming rates and the [...]
A large number of Ohio farmers hire machinery operations and other farm related work to be completed by others. This is often due to lack of proper equipment, lack of time or lack of expertise for a particular operation. Many farm business owners do not own equipment for every possible job that they may encounter [...]
COLUMBUS — Close to sixty percent of the cropland in the north central region of the United States (including Ohio) is rented. Leasing methods, laws and rental rate discovery are important topics to land owners and land operators. The North Central Farm Management Extension Committee has recently updated several lease bulletins and lease templates that [...]
No revelation! Cropland values in Ohio have increased in 2011. An OSU Extension survey conducted in December 2010 estimated the increase in value of Ohio cropland in 2011 would be 5.3-6.0 percent. This was prior to sharp run ups in commodity prices.
Crop profitability prospects for 2012 are positive for the three major row crops in Ohio. Input costs have increased from last year but high futures prices for 2012 crops allow producers to plan for positive margins for next year. OSU Extension Enterprise Budget projections show positive returns for corn, soybeans and wheat in 2012. OSU [...]
Ultimately, supply and demand of cropland for rent will determine the cash rental rate for each parcel. The expected return from producing crops on a farm parcel is the overriding factor in determining the demand for a farm and is the primary driver in establishing a fair rental rate. Local supply and demand of cropland [...]
The Department of Agricultural, Environmental, and Development Economics has a new look to its website.
There are some new tax issues and resources for 2010 and 2011. Expenses increase. Tax Benefit – Section 179 Expensing Increased from $250,000 to $500,000 for 2010 and 2011. The recently passed “Small Business Jobs Act of 2010” signed into law Sept. 27 allows for opportunity for sizable tax write-off for farmers in 2010 and [...]
Numerous Ohio farmers hire workers to complete machinery operations and other farm related work due to lack of equipment, time or expertise. Many farm business owners do not own equipment for every possible job they encounter in the course of operating a farm. Instead of purchasing the equipment needed, they seek out someone with the [...]
Budgeting helps guide you through your decision making process as you attempt to commit resources to the most profitable enterprises on the farm. Crops or livestock? Corn, soybeans or wheat? We can begin to answer these questions with well thought out budgets that include all revenue and costs. Without some form of budgeting and some [...]
Now, more than ever, big swings in crop prices and input costs points toward negotiating some flexibility in cash leases for farmland. “Volatile” and “uncertain” are two words that might best describe grain prices and input costs for row crop production heading into the 2009 planting season. With this increased volatility and uncertainty, risk increases [...]
Newly updated Enterprise Budgets for 2009 have been completed and posted to the Farm Management Web site of the Department of Agricultural, Environmental and Development Economics. Web site Updated Enterprise Budgets can be viewed and downloaded from http://aede.osu.edu/Programs/FarmManagement/Budgets/. Recent changes in fertilizer costs and crop prices have changed the profitability outlook for field crops in [...]
Budgeting helps guide you through your decision-making process as you attempt to commit resources to the most profitable enterprises on the farm.
Higher fuel and nitrogen prices in 2007 have signaled trends that will most likely hold throughout 2008.
Benefits for farm employees vary tremendously from farm to farm and frequently take the place of some wages that might normally be paid to employees in a nonfarm position.
Wages and benefits for farm employees are not only important to the employees, but to the employers as they try to provide fair compensation.
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