Items: Management & Finance
I Have This Farm, Now What?
By Michael Forsythe | KFBM Area Extension Specialist
Published on Jul. 29, 2022
What do I do with the farm I just bought? Although this sounds like a question that should be asked before you buy the farm, there may be circumstances that cause you to acquire a farm before deciding what to do with it. You may decide you want to move your family out of the city to a rural area so you buy a house and a small farm. You might
Hay Production Cost Increases in 2022 and Management Implications
By Greg Halich | Associate Extension Professor
Published on Jul. 29, 2022
Costs for hay production have skyrocketed in 2022. Fertilizer is driving the bulk of the overall increase, followed by fuel, and then general cost increases for other categories (what could be considered “general inflation”). While we can debate the exact causes of all these increases (i.e.
Historical Farm Income and Expenses
By Lauren Omer Turley | KFBM Area Extension Specialist
Published on Jul. 29, 2022
Agriculture seems to be on a roller coaster recently with the volatile commodity markets, energy costs, and the tough summer weather. Looking back over the last ten years, grain farmers have seen a wide range of commodity prices and yields. There has been much more variance on the income side than the costs per acre. It is interesting to look
High Path Avian Influenza Update and the On-Farm Financial Impacts from an Outbreak
By Jordan Shockley | Associate Extension Professor
Published on Jun. 30, 2022
In 2014/15, the U.S. poultry industry experienced one of the most significant animal health emergencies due to high pathogenic avian influenza (HPAI), also known as “bird flu.” There were 232 confirmed cases in poultry flocks that impacted over 50 million birds during this time.
Circle of Concern and Circle of Influence
By Steve Isaacs | Extension Professor
Published on Jun. 30, 2022
IFMA 23, the biannual congress of the International Farm Management Association was held in Copenhagen, Denmark in late June.
The Cost of a Bad Hire
By Steve Isaacs | Extension Professor
Published on May. 31, 2022
Desperate times often require desperate actions, and no time seems more desperate than when the needs are great, time is limited, and labor is short. You need help and you need it now! Add the competition from $15-18/hr service sector wages to the mix and the situation seems almost hopeless.
Agricultural Sales Tax Exemption Now Streamlined
By Laura Powers | KFBM Area Extension Specialist
Published on May. 31, 2022
On March 20, 2022, Governor Andy Beshear signed Senate Bill 121 enacting a streamlined process for eligible farmers to receive a sales tax exemption on eligible purchases. As this bill was given “emergency” status, the bill became effective upon the Governor’s signature.
3 Tips for Farm Management During Rising Inflation
By Jennifer Rogers | KFBM Area Extension Specialist
Published on Apr. 28, 2022
With input prices on the increase and so many things changing with our economy, it is important that producers think about how to manage during rising inflation. There is nothing that we can do to control the prices that we have to pay for products, we can only make sound management decisions about what we purchase and how we manage cash, and t
Food Price Inflation – Trends and Implications for U.S. and Global Consumers
By Will Snell | Extension Professor
Published on Apr. 28, 2022
Inflation dominates today’s conversation among the media, politicians, and everyone impacted–i.e., all of us as consumers.
Maximizing Value: 2022 Spring Application of Broiler Litter for Grain Crop Production
By Jordan Shockley | Associate Extension Professor
Published on Mar. 31, 2022
Spring is here and grain producers across the state are gearing up for planting. One of the many decisions producers have to make before planting is in regard to their nutrient management plan. Broiler litter provides a great opportunity as a complete fertilizer and is being produced and used throughout the state in grain production. However,