MU Extension guide helps farmers with replant decisions
COLUMBIA, Mo. – Challenging weather has forced Missouri farmers to make difficult decisions on whether to replant crops because of sparse stands or delayed planting.
MU Extension guide, spreadsheet help estimate farmland values
COLUMBIA, Mo. – Buyers and sellers who need an estimate of the value of a piece of farmland may not always find it feasible to get an appraisal, particularly one that reflects the land’s historical value needed to calculate taxes and settle estates.
Wheatlage or grain? New decision tool helps find the 'sweet spot'
New tool helps farmers decide if harvesting wheat for silage or grain gives the best value based on yield and costs.
Planting progress shifts in warmer, drier weather
COLUMBIA, Mo. – Warmer and drier weather is expected to help farmers make solid planting progress this week. Normally, corn planting advances about 17 percentage points this week to 67% complete by May 15, says Martyn Foreman, University of Missouri Extension instructor in agricultural economics. “While corn planting progress is unlikely to reach the average next week, the gap should narrow significantly.”
Missouri farm income to set new records in 2022
COLUMBIA, Mo. – Missouri farm income appears on pace for another record year, according to John Kruse, associate research and extension professor in agricultural and applied economics at the University of Missouri.
Evaluating costs and benefits of renovating endophyte-infected pastures
Learn how to assess the economic pros and cons of renovating endophyte-infected tall fescue pastures for better livestock health and forage yield.
Co-grazing: Diversification could boost farm profits
SPRINGFIELD, Mo. – Have you ever considered diversifying production on the farm?Producing beef cattle and meat goats on the same farm may improve your financials, says University of Missouri Extension agricultural business specialist Jennifer Lutes.Lutes developed a model that looks at the economics of co-grazing – a diversification strategy involving production of more than one livestock species on the same farm.
Adding value to farm commodities can ease supply chain strain
COLUMBIA, Mo. – For two years, shoppers have seen how supply chain problems can shock the food system. Initially triggered by the pandemic, these problems have persisted due to labor shortages, transportation bottlenecks and now international conflict.
MU Extension publication, website guide farm families during short-term absences
COLUMBIA, Mo. – A new University of Missouri Extension publication and related online tool can guide farmers through the difficult task of keeping the farm running when the owner or key decision-maker cannot. When someone becomes ill or incapacitated, family members often struggle with finding key information, says MU Extension agricultural business and policy specialist Mary Sobba.
Survey finds Missouri land values increased across the board in 2021
COLUMBIA, Mo. – Landowners who purchased Missouri property in 2021 paid more for land than buyers who purchased land in 2020, according to the latest Missouri Farmland Values Opinion Survey report from University of Missouri Extension.
Make a plan when marketing this year's grain crop
COLUMBIA, Mo. – “If you fail to plan, you are planning to fail.” Crop farmers should take this adage to heart when marketing their grain, advises University of Missouri Extension agricultural economist Martyn Foreman.
Missouri meat, poultry processors receive $16.7 million in grants with help from MU Extension partnership
COLUMBIA, Mo. – Nearly empty meat aisles are a burden producers, processors and consumers don’t want to face again. To prevent that, the Missouri Department of Agriculture (MDA) awarded $16.7 million to keep 150 meat and poultry processors throughout Missouri going strong.
New MU guide looks at silage breakeven price
COLUMBIA, Mo. – University of Missouri Extension recently released an updated cost analyzer to help farmers estimate the breakeven price to justify harvesting corn as silage rather than grain. “Frequently, corn harvested for silage was planted for harvest as a grain crop,” says Joe Horner, an MU Extension agricultural business and policy specialist. Reasons for this change can include feed needs as well as drought and other events…
It pays to know what your farm liability insurance covers
COLUMBIA, Mo. – Without regular policy checks, farm liability insurance might be like a hospital gown – not enough coverage where you need it most. Thoroughly read your policy regularly and check for gaps and needed updates, says University of Missouri Extension economist Ray Massey. “Planning is important, but even the best plans do not always succeed in managing risk,” he says.
Know youth labor laws before hiring your summer staff
COLUMBIA, Mo. – As the school year ends, you can expect young people to start applying for summer jobs. For agricultural employers, these young workers can provide extra capacity at a time when farms and agribusinesses often have more work than they have employees to get that work done.
Increasing fruit, vegetable production can help double value of Missouri ag
Expanding fruit and vegetable production can boost farm income, create new market opportunities, and help strengthen Missouri’s agricultural economy.
Missouri farm income saw large increase in 2020 despite pandemic
Missouri's 2020 net farm income hit $3.4B, matching 2014's record, fueled by strong government payments and a late-year commodity price rebound.
Missouri land values continue to grow
COLUMBIA, Mo. – All classes of Missouri land values grew steadily in the past year, according to the University of Missouri Extension’s annual survey of farmers, rural appraisers and agricultural lenders. Ray Massey, MU Extension agricultural economics professor, heads the survey efforts.
Value of farm business plan shows when death or illness strikes
COLUMBIA, Mo. – The value of a farm business plan becomes clear when family members need to get on the same page or when sudden illness strikes, says Joe Horner, University of Missouri Extension agricultural economist.A farm’s business plan formalizes what is in owners’ heads, Horner says. Writing a farm business plan forces family owners to think things through and agree on goals.
Five steps to pass the farm to the next generation
COLUMBIA, Mo. – Farm succession planning should not begin when the head of the family dies, says Wesley Tucker, University of Missouri Extension agricultural economist and succession planning coordinator. Too often, planning starts the day after the funeral, Tucker says. In addition to straining family relationships, this also increases the likelihood that the next generation will fail.
Study maps future workforce demands of state’s No. 1 economic driver: agriculture industries
COLUMBIA, Mo. – Over the next decade, Missouri’s food, agriculture and forestry industries are projected to generate 13,000 job openings each year. Deliberate statewide planning and action will ensure a globally competitive workforce for employers in these industries that are foundational to Missouri’s economy.
MU Soil and Plant Testing Lab still open and serving Missouri agriculture
COLUMBIA, Mo. – For now, the University of Missouri Soil and Plant Testing Laboratory remains open. “We understand the essential role the lab plays in supporting Missouri's agricultural industry,” said Robert Kallenbach, MU Extension senior program director for agriculture and environment. “If we can continue to operate safely, the MU Soil Testing Laboratory in Columbia will continue to accept samples.”
Dicamba injury and insurance
Dicamba can harm neighboring plants, leading to third-party injury claims involving business liability insurance plans.
Third-party injury and federal crop insurance
Multi-peril crop insurance is overseen by the U.S. Department of Agriculture Risk Management Agencies. For row crop producers, the most common multi-peril crop policies purchased are revenue protection and yield protection. Both of these insurance products use the insured farmer’s actual yields in determining the level of indemnity, if any, to be paid.
Professional liability insurance
Perhaps the best-known type of professional liability insurance is malpractice insurance carried by medical professionals. Professional liability insurance carried by other professionals, such as accountants and architects, is frequently called errors and omissions insurance. Professional liability insurance is intended to covers lawsuits arising from professional services.