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Farm Income 2004 Proceedings

 

A Workshop Addressing Decision-Making Challenges in a Risky Environment



Funding Provided by the Risk Management Agency, US Department of Agriculture

All proceedings are in PDF format - You may download individual presentations or click here to download a zip file containing all PDFs (4,981K)

Overview

Volatile crop yields and commodity prices, farm income variability, and the changing legal and political environment provide significant challenges for farm operators and owners, agricultural lenders, and managers of farm related businesses.

The University of Illinois Extension and the Department of Agricultural and Consumer Economics conducted the fourth annual Farm Income workshops in December 2003 to address some of these challenges for the year ahead.

The workshops included three general sessions - and five breakout sessions:
    A Checkup On Your Financial Health - Paul Ellinger and Bruce Sherrick - reviewed methods to measure farm financial performance and outlined factors critical for financial success.
    Characteristics of Profitable Farms: Is Your Farm One of Them? - Gary Schnitkey and Dale Lattz - analyzed production and management factors separating the more profitable farms from average farms.
    Agricultural Law, Taxation, and Policy: Key Issues and Developments - Don Uchtmann, Gary Hoff, and Robert Hauser - reviewed a wide variety of current topics, including Grain Code Amendments, transgenic crops, tax law changes, WTO, and program payment limits.
    Grain Marketing: Getting Back to the Fundamentals - Scott Irwin and Darrel Good - provided an in-depth discussion of how to do fundamental analysis of the corn and soybean markets, with an emphasis on understanding USDA crop reports.
    The Grain Code, Production Contracts and Article Nine: Legal Developments for Illinois Ag Lenders - Del Banner - reviewed the impact of recent changes in regulations on the agricultural lending community.
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