Profit Tips

Crop Progress & Crop Condition Index

The Crop Condition Index (CCI), is calculated to track the condition of a specific crop from week to week during the growing season.  It is based on the crop condition ratings reported each week in USDA’s Crop Progress Report.  South Dakota’s office of the National Agricultural Statistics Service (NASS) surveys Extension Educators and others each week to determine crop progress and crop condition during the growing season.  Information from this weekly survey is released each Monday afternoon.

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Disaster Preparations for Livestock Producers

What you would do if a weather disaster struck your ranch or feed lot? I remember thinking that following the tornado that destroyed Manchester, SD.  I think we’re all guilty of focusing so much on the day-to-day issues that we ignore potentially serious possibilities. While there is nothing that we can do to prevent a severe weather outbreak, some time spent thinking about our response could prove very valuable.

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Late Interest in Wheat

The Prospective Plantings report shows South Dakota growers again intend to plant fewer acres to wheat. The intended 2.45 million acres in 2012 is well below the intended and actual acres in 2011. Winter wheat seedings were announced back in January as down 3% from 2011. The surprise is spring wheat, where the intended 1.1 million acres would be the lowest on record. The ability to get into fields and a recent price rally has producers discussing a few more spring wheat acres.

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Financing the Business Transition

Many South Dakota farms and ranches are facing the tough management challenge of transitioning the business to the next generation. Part of this management challenge is finding sufficient funding. A natural conflict arises between the need for short term liquidity and long term capital to provide for growth. There is the need for cash to meet current business needs, provide personal security in retirement, return to ownership, provide for the needs of a growing family, and finance a business transition. It is no wonder that many businesses find managing the transition as one of the toughest management challenges they face.

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