2024 Farmland Values

By Steve Isaacs | Extension Professor
Published on Aug. 29, 2024

According to USDA estimates from their annual Land Values Summary, Kentucky’s average Farm Real Estate Values increased 7.5% in 2024 to $5,300/acre, up from $4,930 in 2023. Figure 1 is a comparison of Kentucky land values with the national trend since 2000.

Kentuckians' Consumer Perceptions of Local Dairy and Other Local Food Options

By Tim Woods | Extension Professor and Camille Stevens | Extension Associate
Published on Aug. 29, 2024

In an era where food choices are abundant, there is a growing trend towards supporting local agriculture. One of the most impactful ways to embrace this movement in Kentucky is by purchasing local dairy products, meat, as well as fruits and vegetables.

Avoid Costly Fines: What You Need to Know About New Beneficial Ownership Reporting Rules

By Laura Powers | KFBM Area Extension Specialist and Suzy Martin | KFBM Area Extension Specialist
Published on Aug. 29, 2024

In 2021, Congress passed the Corporate Transparency Act, requiring certain entities to report information on their owners and those who have a certain level of control over the entity, referred to as Beneficial Ownership Information (BOI). This law became effective January 1, 2024.

What to Think About Going into Harvest?

By Tarrah Hardin | KFBM Area Extension Specialist
Published on Aug. 29, 2024

As we are moving into harvest there are couple of things to think about in terms of farm finances.  This year, net farm income is expected to decline and many farmers are worried about how they will cash flow the rest of the 2024 crop year. Now is the time to think about what can be done to help from seeing a significant decrease this year.

What to Do When You Don’t Have Enough Money

By Kayla Brashears | KFBM Area Extension Specialist
Published on Jul. 30, 2024

Several years ago, I wrote an article for the Economic & Policy Update, “What to do When You Have Too Much Money.” We’re having a full circle moment due to the volatility of the agriculture industry as Kentucky farms are experiencing a slide in profitability from the booming 2020, 2021, and 2022 crop years.

Ag Census Summary on Government Farm Program Payments for Kentucky Counties/Regions

By Will Snell | Extension Professor
Published on Jul. 30, 2024

The Ag Census provides data to examine the relative importance of government farm program payments on a state and county level.

Navigating Carbon Strategies: Understanding Offsets and Insets in Agriculture

By Jordan Shockley | Associate Extension Professor
Published on Jul. 30, 2024

As corporations worldwide intensify efforts to mitigate their carbon footprints, two primary strategies have emerged: carbon offsets and carbon insets. These approaches, while designed to address corporate emissions, have significant implications for the agricultural sector.

Drivers of Commodity Prices: Seasonality

By Grant Gardner | Assistant Extension Professor
Published on Jun. 27, 2024

Since the onset of COVID, agricultural commodity charts have resembled the track of a roller coaster, with huge peaks and valleys. During the 2023/24 marketing year, commodity prices have transitioned downward. We can likely expect less volatile commodity prices as prices level out.

Farmers Market Prices: Trends From This Season

Published on Jun. 27, 2024

In a previous Economic and Policy Update article, "Price Dynamics at Kentucky Farmers Markets, 2021-2023

Should You Pay Your Kids to Work on the Farm?

By Kayla Brashears | KFBM Area Extension Specialist
Published on Jun. 27, 2024

Even in the year 2024, farming tends to be a family affair. The late nights and subsequent long hours can mean the most promising way to spend family time is by spending it together in the field or on the ranch.