Opportunity or Obligation

By Steve Isaacs | Extension Professor
Published on Nov. 23, 2021

Baby Boomers are in the process of transitioning trillions of dollars of assets to Millennials and Gen Zers. This includes farming Baby Boomers. USDA’s Farmland Ownership and Tenure survey indicates that about ten percent of farm assets transition to new owners every five years.

COVID-19 and Kentucky’s Migrant and Resident Agriculture Worker Population

By Savannah Columbia | Extension Associate
Published on Oct. 28, 2021

COVID-19 has impacted the lives of every resident in the Commonwealth of Kentucky. Many Kentuckians have dealt with school and workplace closures, supply chain malfunctions, and so, so much more over the past two years.

Family Living Expenses on Kentucky Farms

By Steve Isaacs | Extension Professor
Published on Oct. 28, 2021

There is likely no single item in a farm business cash flow with more uncertainty and more variability than “family living expense.” Farm income and expense items are measured pretty accurately because they will be needed for tax reporting and for borrowing eligibility…two pretty good reasons.

Bookkeeping Tips for Multi-entity Operations

By Suzy Martin | KFBM Area Extension Specialist
Published on Oct. 28, 2021

There are multiple reasons a farming operation might separate its business into multiple entities.  It might be for transition and estate purposes, liability reasons, tax issues, etc.  Ideally, these kinds of decisions involve input from everyone that is part of the “team.” Meaning owners, the attorney, tax advisor, management, lender, heirs, et

New Features to Enterprise Budgets

By Greg Halich | Associate Extension Professor
Published on Oct. 28, 2021

Enterprise budgets are designed to help farmers estimate profitability in the current and future growing seasons, and are also used by lenders and other agricultural-related professionals.  Expected year-to-year changes in profitability can help farmers make decisions related to cropping decisions (e.g.

Fall 2021 Wheat Planting Decision

By Greg Halich | Associate Extension Professor
Published on Sep. 30, 2021

Corn harvest is now underway and Kentucky grain farmers will soon decide if and how much wheat they will plant this fall.  Compared to last year there is a significant increase in wheat and soybean prices, as well as major increases in all fertilizer prices.  The following analysis quantifies these relative changes to estimate the profitability

Tools to Manage Risk for Dairy Producers

By Kenny Burdine | Extension Professor
Published on Sep. 30, 2021

Much discussion in the dairy sector last year was focused on the impacts of COVID-19 and the pricing issues that came with it. Mailbox prices in the Appalachian region, which includes Kentucky, typically exceed US All Milk price due to class I differentials and high class I utilization.

Small Fruit, Big Local Demand

By Brett Wolff | Extension Specialist
Published on Aug. 31, 2021

In discussions with Direct Marketers (including farmers markets, on-farm and roadside markets, as well as Community Supported Agriculture operations) across the state an informal theme that continually arises is the popularity and demand for fresh local fruit, and particularly small fruit like strawberries, blueberries, blackberries, raspberries

The Steer-Bull Price Differential: A Historical Perspective

By Kenny Burdine | Extension Professor
Published on Aug. 31, 2021

In extension settings, I am often asked whether I think it pays for a cow-calf operator to castrate bulls and sell steers. Castration is not without cost as it requires time and facilities and does stress calves for a period of time.

Characteristics of Higher Profit Farms

By Lauren Omer Turley | KFBM Area Extension Specialist
Published on Aug. 31, 2021

In today’s farming culture, the goal of most producers is to be at the top of the profitability curve in order to stay competitive. A period of lower commodity prices led to tight margins and producers had to work on being as efficient as possible to maximize returns.