Latest News From Farm Business - General

Corn planting is now 2% ahead of the five year national average, while soybeans are currently 4% ahead, according to the April 22, 2024, USDA Crop Progress report.

Leland Kootstra shares his quick list of the three areas that he sees the most successful dairy farm business owners mastering as they set themselves and their dairies apart and ahead for the future.

Unrelenting inflation continues to weigh down the U.S. economy and agriculture. Still, CoBank says it believes the Fed will stick with its decision to cut interest rates three times in 2024.

The Ag Economists’ Monthly Monitor is a gauge of economists’ views on the ag economy. While outlooks have grown weaker, it’s the erosion in the future outlook that is sprouting fresh concerns.

Kyle Scheele shares six ways constraints can be a good thing to your operation.

In the world of dairy farming, maximizing profits and ensuring financial viability is a constant challenge.

The key to maximizing the return on investment of a dairy's workforce lies in the management's ability to humanize operations, understand employee needs, and deploy individual skills appropriately.

Industry experts share what to include in a financial plan and where they'd consider making room in the budget.

The latest Ag Economists’ Monthly Monitor projects a major drop in net farm income this year. Economists are also growing more pessimistic about the potential for interest rate cuts in 2024.

While dairy operations with less than 500 cows make up 80% of the nation’s dairy farms, the majority of cows within the nation’s herd reside on farms with 1,000 animals or more.

USDA has announced that the 2024 Dairy Margin Coverage sign-up will open Feb. 28 and run through April 29.

Sometimes a family business's perks can be abused or expanded over time until it creates conflict.

The barometer reported its lowest reading since May 2023, falling seven points from December and 24 points from January 2023.

Jim Rothermich of Iowa Appraisals shares what he expects from land values in the year ahead.

Ag economists’ views on the ag economy took a dive in the first Ag Economists’ Monthly Monitor of 2024; however, relatively strong balance sheets and working capital could provide a cushion for 2024. 

Consultant Bruce Vande Steeg has found creating a vibrant farm business starts with the leadership.

This month’s Rural Mainstreet Index marks the fifth-straight month where the index has been below the growth neutral mark.

Laurenio Vitorino came to America at only 15-years-old. After facing years of hardships and bullying, he found his calling working at a nearby dairy. 34 years later, he continues to bring excellence to the table.

"When I arrived at the dairy that day and assessed the situation, three main objectives were clear: Increase cash flow, reduce expenses, rebuild relationships."

The national average for a gallon of gas is now $3.07, the lowest since 2021.

To create a safe and comfortable work environment for your farm employees, it’s important to address the specific challenges posed by cold weather on the farm.

Farmers routinely handle high-dollar transactions — and the nature of the payments, often through unsecure methods, leaves them susceptible to foul play.

From the election to world trade, as well as geopolitical factors that have the potential to shape agriculture in 2024, the December Ag Economists' Monthly Monitor shows the possibility of several economic surprises.

These 10 steps can help keep your employees from walking away.

Prioritizing culture is often overlooked when it comes to employee management and retention.

Heifer availability has tightened, and prices have increased substantially. One reason is the interest that has developed in beef-on-dairy calves.

Beef cross calves are currently generating healthy profits for dairies. They also are a welcome addition to the beef supply chain, according to Dr. Zeb Gray, Beef Technical Feedlot Specialist with Diamond V.

As the year comes to a close, Paul Neiffer shares five ways to minimize the impact of income taxes.

Farming has run deep in the Moes family roots for the past 130 years. Today, the fourth and fifth generations continue to keep their ancestors’ dreams of farming alive.

Analysts say an initial cut could be made as early as first quarter 2024. One of the key factors the central banking system will consider is whether its inflation rate target of 2% has been achieved.

Dairy producers are feeling the pain point rising interest rates present. But will that bring a halt to their expansion plans?

Though inflation is currently high, Indiana ag lender Joe Kessie doesn’t expect a repeat of what he experienced in his early career for three main reasons.

For the latest list—based on 2022 data—47 of the 100 cooperatives are in agriculture. In all, 59% of the $319 billion in generated revenues of co-operatives are from those ag-focused co-ops: $187.6 billion.  

Farmers are opting to tap into their savings from recent prosperous years instead of taking out loans at the highest interest rates since 2007, according to surveys conducted by regional Federal Reserve banks.

Work by the House or Senate Agriculture Committee on a new farm bill is essentially stalled, Randy Russell tells AgriTalk's Chip Flory. Russell says that could be the case until government funding issues are resolved.

Less than 5% of new grads choose rural food animal practice. That needs to change to protect the U.S. food supply and public health. Contacting legislators is one way farmers and ranchers can weigh in and help.

Working with family can be both challenging and rewarding. However, tensions can build if clearly defined roles and responsibilities are not established for each person. The good news is there are ways to navigate.

Mortgage interest rates just hit a twenty-year high, topping 7%. High borrowing costs will slowly dampen farmer demand for acres as record land prices mean all but a few will have to borrow some to buy.

Here are some pro tips for managing the busy-ness of fall and making your time work for you.

“If I were picking both from a financial and an emotional perspective, the next place I could put a dollar, I still would favor farmland pretty highly,” Bruce Sherrick says.

In early 2022, a possible trucker shortage grabbed headlines, but John Phipps says even today, there isn't much hard data to substantiate that alarm.

New operating loans have interest rates double compared to 2021

Childcare presents a unique challenge for producers looking to balance farm and family. Is there a way to allow children to free-range without compromising safety, mental health and productivity?

Conducting a mid-year financial check-in serves as an opportunity to review the progress you've made toward goals set at the start of the year and make plans for the remaining months.

For 2024, USDA projects that food price inflation will be lower than that seen in 2023 and significantly lower than the rise seen in 2022.

House Republicans, particularly on the House Ag Committee, are debating changes to the Conservation Reserve Program as part of the upcoming farm bill reauthorization.

Farm Bill discussions and debates don't pack as much drama for producers. According to JohnPhipps, there's an unspoken realization that the Farm Bill doesn’t have the same influence on the farm economy it once did.

“Most farms don’t have the time, capabilities, perspectives, resources or desire to do all the tasks it takes to run an operation," says Steve Kluemper, AgriStrategies LLC founder. "A lot of growers hire to fill gaps."

Meanwhile, service prices and the core index (which excludes food and energy) remain high, with the core CPI descending to 4.8%.

Wednesday's interest rate decision broke a streak of 10 straight meetings where the Fed announced higher rates. Officials say another half-a-percentage-point hike is likely yet this year.