M1268     2009  

Farm Management and Production Economics Resources

Copyright ©  2009  Regents of the University of Minnesota. All rights reserved.

Running a farm is one of the hardest jobs out there. From marketing to estate planning to taxes, it seems there are endless economic decisions to be made.

This page is a collection of our most-used and most popular resources on farm financial management. These resources can help producers make informed decisions and take charge of their financial future.

Agricultural business management Leasing Land values Financial Legal and taxes Succession Strategic planning Information management Business start-up Renewable energy Anaerobic digesters Other Manure management

Crops Cost and return Markets Machinery Inputs and environmental Livestock Cost and return Markets Environmental and co-products Anaerobic digesters

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Agricultural business management

Leasing

• Cropland rental rates for Minnesota counties
  Hachfeld, et al., 2008
• Southern Minnesota cash rental rates [PDF]
  Bau, 2006
• Farm leases
  Kunkel, et al., 2009

Land values

• Interactive tool for land purchase decisions [XLS]
  Kurtz, 2008
• Minnesota Land Economics website

Financial

• Interpreting Financial Statements and Measures
• Farm Finance Scorecard [PDF]
  Becker, et al., 2009
• Risk management toolbox for speciality crop growers
  Elmstrand, et al., 2002
• 2008 Minnesota Farm Financial Update [PDF]
  
• Crop insurance prodecures for delayed harvest and aflatoxin damage [PDF]
  Hachfeld and Schull, 2007
• Deferred payment contracts and pre-paid farm expenses [PDF]
  Holcomb, 2008
• Farm financial statements and ratios: fact sheet series
  Kurtz, 2007
• Facts about credit scoring
  Anderson-Porisch, et al.

Legal and taxes

• 2009 Ag Income Tax Update for Farm Families [PDF]
  Holcomb and Hachfeld, 2009
• Interactive 2007 tax rate worksheet and estimator [XLS]
  Kurtz, 2007
• Farm legal series
  Kunkel, et al., 2009

Succession

Estate planning

All items Hachfeld, et al., 2009

• Estate planning principles [PDF]
• Establishing a will [PDF]
• Distribution of estate assets [PDF]
• Gifting assets [PDF]
• TRUSTS: Definitions, types and taxation [PDF]
• Revocable living trust [PDF]
• Tax Issues for Estate Planning [PDF]
• Life Insurance in Estate Planning [PDF]
• Steps in Estate Settlement [PDF]
• Distributing Personal & Household Assets [PDF]

Transferring the farm

All items Hachfeld, et al., 2009

• Preparing to transfer the farm business [PDF]
• Farm business transfer strategies [PDF]
• Utilizing partnerships, corporations and limited liability companies to transfer farm assets [PDF]
• Transferring Livestock & Machinery [PDF]
• Should You Sell Your Real Estate? [PDF]
• Gifting Farm Assets [PDF]
• Tax Considerations When Transferring Assets [PDF]
• Treatment of Heirs in the Transfer Process [PDF]
• Developing a Written Transition Plan Outline [PDF]
• Financial Help For Beginning Minnesota Farmers [PDF]
• Putting a Value on Sweat Equity [PDF]

Strategic planning

• How the 2009 Federal Stimulus Package will affect agriculture [PDF]
  Holcomb, 2009
• Evaluating investments in value added ventures in agriculture
  Weness, 2002
• Collaborative marketing: A roadmap and resource guide for farmers
  King, et al., 2008

Business start-up

• What does it take to earn a living on the farm? [PDF]
  Hachfeld, 2009
• Why can't agriculture be like it was in the 1970s? [PDF]
  Hachfeld, 2009
• Applying for federal and state ID numbers when starting a new business
  Christensen, 2003

Renewable energy

• Energy crop production costs and breakeven prices under Minnesota conditions [PDF]
  Lazarus, 2008
• The United States EnergyInformation Administration [External]
• Landowner Guidelines for Evaluating Wind Energy Production Contracts [External, PDF]
  Harsh, Schweikhardt, and Hamilton, July 2008

Anaerobic digesters

• Farm-based anaerobic digesters as an energy and odor control technology: Background and policy issues [PDF] [External]
  Lazarus, 2008
• An analysis of energy production costs from anaerobic digestion systems on the U.S. livestock production facilities [PDF]
  Beddoes, et al., 2007
• Calculate annual costs and returns from a methane digester [XLS]
  Lazarus, 2008
• The AgSTAR Program [External]

Manure management

• The "other fertilizer": The economic value of swine finishing manure [PDF]
  Koehler, et al., 2008
• Manure application economics
  Koehler and Lazarus

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Crops

Cost and return

• Minnesota Crop Cost and Return Guide, 2011 [PDF]
  Lazarus, 2010
  See also the Crop enterprise budget spreadsheet [XLS] to accompany the cost and return guide, contains detailed prices and quantities not included in the publication.
• Minnesota price and cost summary [PDF]
  2009
• 2009 acceptable crop price worksheet [XLS] or [PDF]
  Bau, 2008

Markets

• A challenge: Can you make a profit selling grain at the loan rate? [PDF]
  Bau, et al., 2006
• Cash marketing tools [PDF]
  Bau and Weness, 2006
• Corn and soybeans basis [PDF]
• Corn and soybean price probability [PDF]
  Bau
• Grain market movement [PDF]
  Bau, 2006
• Grain price risk management [PDF]
  Bau, et al., 2006
• Marketing strategies for agricultural commodities [PDF]
  Bau and Weness, 2006
• Marketing tools and strategies [PDF]
  Usset, 2000
• Collaborative marketing: A roadmap and resource guide for farmers
  King, et al., 2008

Machinery

• Machinery cost estimates [PDF] and accompanying machinery economic cost estimation spreadsheet [XLS]
  Lazarus, 2009
• Repair cost calculator [XLS] and accompanying paper [PDF]
  Lazarus, 2008
• Iowa farm custom rate survey [PDF] [External]
  Edwards, 2009
• Forage equipment management
  Lazarus, et al., 2002-05
• Planter Considerations for Strip Till [PDF slide set]
  Matthew Digman, UW-Madison

Inputs and environmental

• The "other fertilizer": The economic value of swine finishing manure [PDF]
  Koehler, et al., 2008
• Manure application economics

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Livestock

Cost and return

• Minnesota price and cost summary [PDF]
  2009

Markets

• Collaborative marketing: A roadmap and resource guide for farmers
  King, et al., 2008

Environmental and co-products

• The "other fertilizer": The economic value of swine finishing manure [PDF]
  Koehler, et al., 2008
• Manure application economics

Anaerobic digesters

• Farm-based anaerobic digesters as an energy and odor control technology: Background and policy issues [PDF] [External]
  Lazarus, 2008
• An analysis of energy production costs from anaerobic digestion systems on U.S. livestock production facilities [PDF]
  Beddoes, et al., 2007
• Calculate annual costs and returns from a methane digester [XLS]
  Lazarus, 2008

Produced by Communication and Educational Technology Services, University of Minnesota Extension.

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