Changes in Kentucky Sales Tax That Apply to Farming

By Jerry Pierce | KFBM Program Coordinator
Published on Feb. 28, 2023

Legislation went into effect on the first of 2023 that made many services subject to Kentucky’s 6% sales tax. One change was to the qualifications for residential use exemption from sales tax on utilities.

U.S. Ag Exports Remain Strong Amidst a Lot of Headwinds

By Will Snell | Extension Professor
Published on Oct. 31, 2022

Despite tight supply inventories, shipping and other transportation challenges, a higher valued U.S. dollar, and an overall slowing global economy, U.S. agricultural export sales are set to establish record levels in 2022.   The value of U.S.

U.S. Ag Exports/Trade Policy Update as of June 2022

By Will Snell | Extension Professor
Published on Jun. 30, 2022

USDA recently updated their trade forecast for FY 2022  projecting a record-high U.S. ag export level totaling $191 billion, 11% higher than last year’s record high and 35% above the 2016-2020 average.  Gains in U.S.

The Importance of Agriculture for Kentucky: March 2022 Report Update Now Available

By Sarah Bowker | CEDIK Managing Director
Published on Apr. 28, 2022

Our unit, the Community and Economic Development Initiative of Kentucky (CEDIK),  recently updated the 2015 report, The Importance of Agriculture for Kentucky. The report defines the economic impact of the Agricultural sector on the Kentucky economy.

Impact of Government Payments

By Jerry Pierce | KFBM Program Coordinator
Published on Feb. 28, 2022

How important is a new farm bill? That depends on a number of factors like what you grow, where you farm, and what happens during a year to trigger payment to you. What impact have farm bills and other government programs had on Kentucky farms in terms of profitability over the last decade? They appear to have had a considerable effect.

U.S. and Global Food Price Inflation

By Will Snell | Extension Professor
Published on May. 28, 2021

Food price inflation continues to be headline news as the food system adjusts from the lingering effects of COVID-19 amidst tight labor/ag supplies, a resurgence in the U.S. economy, and a host of other factors discussed below.

Examining How Macroeconomic Policy Changes Impact the Farm Economy

By Will Snell | Extension Professor
Published on May. 12, 2021

Farmers and agribusinesses closely monitor changes in commodity and input prices, crop yields, rates of gains on livestock, the latest technology, and of course, the weather. However, changes in macroeconomic variables such as interest rates, inflation, income growth, and exchange rates, often have a much greater impact on their bottom line.

ARC-PLC Farm Bill Decision 2021

By Greg Halich | Associate Extension Professor
Published on Feb. 25, 2021

Starting in 2018, grain farmers have had the ability to decide on a yearly basis between the ARC and PLC Farm Bill programs.  The decision needs to be made for each base-acre crop type (corn, soybeans, wheat) on each FSA farm.  You can choose PLC for one crop type, and ARC for another crop type on the same farm.

U.S. Agriculture Flirting with an Annual Trade Deficit – First Time in 60 years?

By Will Snell | Extension Professor
Published on Oct. 29, 2020

Trade continues to be a hot discussion item, impacting ag markets and certainly being a part of the political debate heading into the November elections. We constantly hear about the relatively large trade deficit that the U.S.

Coronavirus Food Assistance Program (2.0)

By Kenny Burdine | Extension Professor and Will Snell | Extension Professor
Published on Sep. 23, 2020

USDA has announced a second round of Coronavirus Food Assistance Program (CFAP) payments for farmers impacted by COVID-19.