Farm Operations

Farm Financial Standards Council Annual Meeting

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July 28th, 2014

I will be attending the annual meeting for the Farm Financial Standards Council in Billings, Montana beginning tomorrow and continuing through Thursday.  I have posted about the council several times before, but if you are interested in updating your financial records to the accrual method of accounting, I would highly recommend downloading the standards from […]

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Base Acre Reallocation Options Under the 2014 Farm Bill

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July 24th, 2014

FarmdocDaily just released today an analysis of the base acre reallocation options under the new farm bill.  The report gives a very good analysis of the base acres by the various major crops and the variances between base acres and planted acres for 2012.   Here are charts of the major crops by base acres and […]

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The Effect of Premium Subsidies on Crop Insurance Demand

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July 24th, 2014

The Economic Research Service of the USDA periodically releases reports on various items related to agriculture.  This month, they released a report on the “The Effects of Premium Subsidies on Demand for Crop Insurance“.  The actual report is about 30 pages long and has a very detailed regression analysis for about 10 pages of the […]

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USDA Offers Assistance to Farmers and Ranchers Affected by Fires

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July 23rd, 2014

Just north of where I live is burning a very large forest and range fire.  The latest numbers I saw showed close to 300,000 acres or about 400 square miles have been burnt and only about 20% of  the fire is contained.  The local USDA FSA office for Okanogan/Ferry Counties (which are two of the […]

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Top 100 Ag Banks

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July 21st, 2014

The American Bankers Association (ABA) posts a quarterly report of the 100 largest Ag Banks (Non-Farm Credit).  In the first quarter report for this year, the #1 bank for Ag loans was Wells Fargo with $7.229 billion of farmland ($2.231 billion and $4.998 billion of other ag loans).  #2 was Rabobank with $3.957 billion followed […]

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Rural Mainstreet Index Continues to Weaken

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July 18th, 2014

Creighton University prepares a Rural Mainstreet Index that measures the economic outlook for the agricultural/rural sector of the economy.  An index reading of 50 indicates growth neutral.  The index for June 2013 was at 60.5 and for June of this year, it has dropped to 53.6, almost growth neutral.  The index is composed of a […]

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Section 179 and Bonus Depreciation Update

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July 17th, 2014

I seem to get more emails, phone calls and conversations regarding Section 179 and bonus depreciation compared to any other question. Both the Senate and House have either discussed or proposed several bills to extend bonus depreciation and Section 179 or make them permanent. In my opinion none of these bills will ultimately be passed […]

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Transition Period for LGM-Dairy to DMM is Announced by FSA

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June 26th, 2014

The 2014 farm bill now provides for a new Dairy Margin Management (DMM) program.  Dairy farmers have been able to take advantage of Livestock Gross Margin-Dairy (LGM-Dairy) under current crop insurance provisions.  However, the 2014 bill provides that a dairy farmer cannot take advantage of both programs to prevent “double-dipping”.  In addition, the LGM-Dairy insurance […]

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Is Low Section 179 Causing Low Equipment Sales?

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June 24th, 2014

Most of the equipment manufacturers have released their equipment sales for the last quarter and most of them reported lower sales for the first quarter of this year versus 2013.  We have seen some commentators attribute this to the current lower Section 179 tax deductions for this year and no bonus depreciation. However, when you […]

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ARC-IC versus ARC-CO

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June 23rd, 2014

The FSA issued some regulations on the calculations of PLC and ARC late last month.  This notice provides a good overview of how the FSA will determine the payment calculations under PLC and ARC.  ARC is broken down into ARC at the County Level (ARC-CO) and ARC at the farm level (ARC-IC).  We had provided […]

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    I'm in Big Sky Country. Billings MT 8 hours ago

    Pre Check is now as slow as regular line at airport. 13 hours ago

    Traveling to Billings for Farm Financial Standards Council annual meeting 1 day ago

    Congrats to # 24. The Chase is in for #5 2 days ago

    Got to drive a Case IH 2388 yesterday in 130+ bpa wheat for two hours. My idea of a perfect day. Have two more days end of the week 3 days ago

    Debt as percentage of farm assets will go up as farmland and equipment values go down. Where will it stop? 3 days ago

    Photo of 140 bpa wheat near Walla Walla pic.twitter.com/YsA2wPt1iH

    4 days ago

    Corn does well in Washington state. 55 at night 95 during the day plus irrigation 5 days ago

    If average cash rents drop $50 this fall and cash return is 2% equals drop in average land values of $2,500. We shall see. 6 days ago