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Farm Income 2005 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 single PDF file (38,740K)

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 fifth annual Farm Income workshops in December 2004 to address some of these challenges for the year ahead.

The workshops included four general sessions - and four breakout sessions:
    FAST Tools: Hands-On Computerized Applications - Paul Ellinger, Gary Schnitkey and Dale Lattz - provided experience with using Farm Analysis Solution Tools (FAST) including application in grain inventory management, estimations of break-even levels of storing grain, and financial performance.
    Farmland Markets in Illinois: Historic Context and Contemporary Issues - Bruce Sherrick, Gary Schnitkey, Dale Lattz and Paul Ellinger - addressed factors affecting value, property tax developments, leasing alternatives, government program issues, and financial performance as an investment.
    Legal Check-Up: Land and Recreational Use Liability and 1031 Farmland Exchanges, Friend or Foe - Don Uchtmann, Bryan Endres and Gary Hoff - reviewed rural land related liability issues, including the recent Illinois Supreme Court interpretation of the Recreational Use Act and “§ 1031 Farmland Exchanges, Friend or Foe”, and provided an in-depth discussion of tax deferred like-kind-exchanges of farmland.
    Sizing Up Your Marketing Advisory Program - Scott Irwin and Darrel Good - reviewed farmer marketing performance for corn and soybeans, provided an in-depth review of the performance of market advisory services and other marketing programs, and discussed factors to consider before signing up for a program.




 
Department of Agricultural and Consumer Economics    College of Agricultural, Consumer and Environmental Sciences
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