Assessing Production Management Skills
As farms continue to consolidate it becomes increasingly important to assess a farm’s management skills. At a certain farm size, it is no longer easy or feasible for the manager…
International Benchmarks for Wheat Production
Examining the competitiveness of wheat production in different regions of the world is often difficult due to lack of comparable data and consensus regarding what needs to be measured. To…
International Benchmarks for Soybean Production
Examining the competitiveness of soybean production in different regions of the world is often difficult due to lack of comparable data and agreement regarding what needs to be measured. To…
International Benchmarks for Corn Production
Examining the competitiveness of corn production in different regions of the world is often difficult due to lack of comparable data and agreement regarding what needs to be measured. To…
Cost to Produce Corn and Soybeans in Illinois – 2017
In 2017, the total of all economic costs per acre for growing corn in Illinois averaged $876 in the northern section, $868 in the central section for farmland with "high"…
Gardner Policy Series
U.S. Field Crop Income – Return to Normalcy
The economic state of U.S. crop farming has drawn considerable attention in recent years. This article uses U.S. Department of Agriculture (USDA) cost of production data to compare the ratio…
Gardner Policy Series
Comparing Economies of Size: Milk vs. Field Crops
The farmdoc daily article of May 25, 2017 explored the substantial economies of size in producing milk and its relevance to U.S. dairy policy. A follow-on question of interest is,…
Higher Wages Don’t Always Mean a Higher Standard of Living: Rural Cost-of-Living and Farmworker Wages
Differences in the cost of living across U.S. complicates ongoing farm labor challenges. Farm industry groups, agricultural media, and even the popular press have covered declining availability of farmworkers as…
What is the Impact of Power and Equipment Costs on Illinois Grain Farms?
With tightening margins and lower crop prices, producers are looking for ways to cut costs. In this article, we will look at power and equipment costs components, how they vary…
State Labor Regulations and Labor-Intensive Agriculture
The state of U.S. agricultural production is changing. Over the next decade, increases to minimum wage and other changing labor regulations will have a dramatic impact on fruit, vegetable and…
Cattle Finishing Net Returns in 2017 – A Bit Different from a Year Ago
With the exception of May 2016, monthly fed cattle net returns were negative from December 2014 through November 2016. As noted here, prospects for 2017 appear much brighter. This article…
Cost to Produce Corn and Soybeans in Illinois — 2016
In 2016, the total of all economic costs per acre for growing corn in Illinois averaged $886 in the northern section, $870 in the central section for farmland with "high"…
Net Return Prospects for Cattle Finishing in 2017
With the exception of May 2016, monthly fed cattle net returns were negative during 2015 and 2016. Current prospects for 2017 appear much brighter. In addition to discussing net return…
Prospects for Swine Finishing Costs in 2017
Hurt notes the challenges facing the swine industry over the next several months. Though certainly not a panacea, feed costs are expected to be relatively low during the next several…
Costs and Returns for Illinois Beef Producers in 2015
Total economic costs in 2015 for Illinois beef feeding enterprises exceeded total returns by $45.29 per 100 pounds of beef produced on farms enrolled in Illinois Farm Business Farm Management.…
Comparing Input Price Changes during Multiple Year Declines: Rent as an Outlier in the Current Decline
Crop input prices are a topic of considerable discussion. Numerous farmdoc daily articles have addressed the topic; most recently September 20, 2016 (Schnitkey). This article provides another perspective by comparing…
International Benchmarks for Wheat Production
Examining the competitiveness of wheat production in different regions of the world is often difficult due to lack of comparable data and consensus regarding what needs to be measured. To…
Net Farm Income Trends
The average net farm income for all farms in 2015 as a negative $2,971; it was $107,290 in 2014. There are 2,647 farms in this dataset with average tillable acres…
International Benchmarks for Soybean Production
Examining the competitiveness of soybean production in different regions of the world is often difficult due to lack of comparable data and agreement regarding what needs to be measured. To…
Negative Economic Profit Margins for Dairy Producers in 2015, Likely to Continue Negative Trend in 2016
Lower milk prices resulted in negative economic returns for Illinois dairy producers in 2015, according to figures summarized by University of Illinois agricultural economists in cooperation with the Illinois Farm…
International Benchmarks for Corn Production
Examining the competitiveness of corn production in different regions of the world is often difficult due to lack of comparable data and agreement regarding what needs to be measured. To…
Cost to Produce Corn and Soybeans in Illinois-2015
In 2015, the total of all economic costs per acre for growing corn in Illinois averaged $921 in the northern section, $896 in the central section for farmland with "high"…
Weekly Farm Economics
Soybean Planting Decision in 2016: Are Soybeans-After-Soybeans Profitable?
Recent analysis suggests that soybeans have been more profitable than corn in Illinois from 2013 to 2015, and there is a reasonable chance that soybeans will be more profitable than…
Managing on Thinner Margins
While actual data has not been collected at the moment, farm income in general will be down considerably in 2015. Without a material reduction in input costs, 2016 stands a…
Profit Margins for Dairy Producers Turn Positive in 2014, Likely to Return to Negative Trend in 2015
Higher milk prices and lower feed costs resulted in positive economic returns for Illinois dairy producers in 2014, according to figures summarized by University of Illinois agricultural economists in cooperation…