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Farm Income 2007 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 (4588K)


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 2006 to address some of these challenges for the year ahead.

The workshops included four general sessions - and four breakout sessions:
    The Impacts of Tillage and Rotations on Machinery Costs - Gary Schnitkey and Dale Lattz - examined the effects of different tillage methods and crop rotations on machinery cost.
    FAST Tools – Planning Beyond 2008 - Paul Ellinger and Travis Farley - is a hands-on computer session that assisted participants in evaluating future farm economic scenarios and assessing financial impacts of alternative investments.
    Energy and Agriculture: Legal and Tax Perspectives - Don Uchtmann, Gary Hoff and Bryan Endres - explored legal and tax issues related to windfarms, biofuels, coal mining, oil leasing, and energy transmission.
    Crop Insurance and Risk Management in the Current Price Environment - Bruce Sherrick and Scott Irwin - evaluated crop insurance and risk management strategies given current price expectations. Impacts of 2007 Farm Bill alternatives affecting crop insurance were discussed.

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