The crop insurance revenue guarantee will fall but costs likely will remain high, at least initially. Potentially, this can expose producers to a large financial loss.
Finances
Economic conditions under which the 2012 farm bill is being discussed are different from previous farm bills.
A relatively new price risk management tool available to livestock producers is livestock risk protection (LRP) offered by the U.S. Department of Agriculture’s Risk Management Agency (RMA).
The NDSU SURE program calculator is applicable to nearly all farm situations.
NDSU Extension economist has some tax tips for producers.
The featured speaker is Jolene Brown who is a farmer, author and award-winning communicator.
The program provides a tool for producers to check the changing scenarios until final planting decisions are made this spring.
After adjusting for inflation, North Dakota’s real-dollar GDP grew 7 percent from 2009 to 2010.
The median value of owner-occupied housing with a mortgage in North Dakota was $134,700 in 2009.
Farm gross cash revenue has doubled in the past decade.
Along with the yield loss, farmers also need to be concerned about the impact on test weight.
The impact of the national recession can be seen specifically in the unemployment compensation to North Dakotans.
Don’t wait until the crop is in the bin because that may be too late.
From 1993 through 2009, people moving to North Dakota brought with them $8.1 billion in adjusted gross income, while people moving out of the state took with them $9.3 billion.
North Dakota is the only state among the largest oil-producing states to have increased capacity from 2000 to 2010.
Producers can plant forage mixes for grazing that increase the soil’s water-holding capacity and add nitrogen to the soil.
The current estimate of crop acreage in North Dakota that was not planted this year is about 6.3 million acres, which based on information gathered by Farm Service Agency personnel across the state.
A new free online resource can help people get their finances back in order after a disaster.
Large areas of North Dakota remain wet and likely will be prevented planted acres for crop insurance purposes.
In 2010, single-family homes were approximately half (54 percent) of the new authorized housing in North Dakota and averaged $173,424 in value.
The program compares prevented planting with growing either the same crop for which a prevented planting payment could be received or some other crop.
Unlike prevented planting insurance, which is calculated crop by crop, the SURE payment is triggered at the whole-farm level.
The question is whether to plant the crop and accept the risk of lower yields and reduced crop insurance coverage or to collect a prevented-planting crop insurance indemnity payment and idle the ground.
Some farmers can't get to their fields becase of washed-out roads.
The largest industry in 2007, in terms of the number of firms owned by American Indians and Alaska natives, was health care and social assistance.
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