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    Graduation Presents You Didn’t Consider, But Should Have

    The Class of 2018 has, or soon will be, walking across the stage and shaking hands with the School Board President and receive their diplomas. This act officially moves them on to the next stage of their lives.

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    Tax Implications of Drought Induced Livestock Sales

    As South Dakota producers affected by severe drought have either made non-traditional livestock sales or plan to sell a larger than normal number of breeding animals in 2017, this article provides information and examples about two different tax treatments producers should be talking to their tax advisor or consultant about.

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    Exchange Rates and Their Effect on U.S. Sheep Industry

    Per capita lamb and mutton consumption is fairly stable in the U.S. Imports of lamb have offset the decline in domestic production in recent years. Lamb and mutton imports, currently account for nearly half of U.S. consumption, are mainly from Australia (about 68-70 percent) and New Zealand (about 30-32 percent).

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    Working Capital for South Dakota Farms

    Many farms in South Dakota built working capital and financial reserves between 2009 and 2012, a recent period of relatively high returns. Since 2013 the strong working capital position has been on a downward trend. Figure 1 shows average working capital positon per acre of farms enrolled in South Dakota Center for Farm and Ranch Management (SDCFRM) program.

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    Expectations for Pasture Rental Rates 2016-2017

    The cash rental rates for pasture/rangeland in South Dakota last year saw some fairly large increases across the state. Despite a downward change in feed and live cattle prices in 2015, cash rental rates still increased. The state average for pasture/ rangeland rental was $31.40 per acre in 2015 and $28.40 in 2014.

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    2016 Farm Family Income Expectations: What they mean

    The 2016 forecast of national net farm income was recently released by the USDA Economic Research Service (ERS). The ERS estimates a 3 percent decline compared to 2015 income figures. This is a potential decrease of $1.65 billion dollars in net farm income, a reduction in farm income from $56.45 billion in 2015 to $54.8 billion in 2016.

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    Bookwork, The Missing Management Component: Part 3 - Balance Sheet Valuations

    The financial crash of the 1980’s has been attributed to changes in producer’s balance sheets, due to a decline in land prices. After this time, a two-column balance sheet was developed to help prevent that type of balance sheet collapse from occurring in the future.

    Read More »

    Wet and Cool October Ahead

    On September 30, NOAA’s Climate Prediction Center released an update to the October climate outlook. For the Northern Plains, there are some substantial changes to the previous outlook that was issued a couple of weeks ago.

    Read More »

    Bookwork, The Missing Management Component: Part 2 - Depreciation Determination and Use

    In Part 1 of The Missing Management Component we covered the difference an accounting system makes on the Net Income Calculation. The Jones and Smith farms were equal in Net Cash Income, but there was a large discrepancy when the Accrual Method was used to include inventory changes and calculate the Net Income.

    Read More »

    Fifth Anniversary of Western South Dakota Blizzard

    As we remember the fifth anniversary of the winter storm and blizzard that occurred on October 3–5, 2013 (which some call Winter Storm Atlas), the event provides a reminder that it is time to begin preparation and planning for winter weather events that can occur from now through May.

    Read More »

    Bookwork, The Missing Management Component: Part 1 - Farm Income Determination

    It is fair to say that many ag producers do not like bookwork. Many times this job gets pushed to the side, until a bill is due or taxes need to be filed. It is also fair to say it is a missing component to the management of most operations.

    Read More »

    South Dakota Per Pair and Yearling Monthly Pasture Rental Rates for 2018

    The SDSU agricultural land value survey collected 2018 data statewide for cow-calf pairs and yearling monthly pasture rental rates based on South Dakota regions. The cow-calf pair statewide weighted average in 2018 was $48.41 with a high of $61.63 and a low of $35.26.

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    Farm Equipment, Safety on the Road, Everyone’s Role

    It is National Farm Safety Week (September 16-22nd) which also serves as a safety reminder for those involved in agriculture. Silage harvest has been going for a couple of weeks and soybean harvest has started in parts of South Dakota.

    Read More »

    South Dakota Per Pair and Yearling Monthly Pasture Rental Rates for 2018

    The SDSU agricultural land value survey collected 2018 data statewide for cow-calf pairs and yearling monthly pasture rental rates based on South Dakota regions. The cow-calf pair statewide weighted average in 2018 was $48.41 with a high of $61.63 and a low of $35.26.

    Read More »

    2018 South Dakota Pasture Cash Rental Rates

    Average cash rental rates per-acre reflect regional differences in productivity and carrying capacity of pasture and rangeland tracts, with fluctuations in the commodity markets and potential profits, affecting cash rental rates.

    Read More »

    Rates of Return to Pasture and Cropland Diverge

    The gross rate of return to pasture versus cropland widened in 2018 to a 1.1 percentage point difference compared to 2017. Pasture/rangeland gross rate of return reported in the 2018 survey is 2.4% and for non-irrigated cropland is 3.5% compared to 2017 rates of return at 2.8% for pasture and 3.5% for non-irrigated cropland.

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    2018 Cropland and Pasture Value Changes

    Weighted-average state cropland values were basically unchanged from 2017 to 2018, with a slight increase of less than one percent at 0.9%. However, pasture/rangeland weighted-average value increased 3.0% statewide.

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    2018 SDSU Land Value Cash Rental Rate Overview

    According to the 2018 SDSU Farm Real Estate Market Survey statewide change in average cash rental rates per-acre from 2017 to 2018 was positive for cropland and unchanged for pasture/rangeland.

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    1099 Tax Forms For Agriculture Producers

    Farmers and ranchers regularly pay for services from individuals who are not their fulltime employees. Typical compensation includes wages or other payments to self-employed workers and contractors, and rent paid to landowners. Under IRS regulations, a 1099 form should be issued to certain non-employees who perform services and are paid over $600 in a calendar year.

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    Bookwork, The Missing Management Component: Part 3 - Balance Sheet Valuations

    The financial crash of the 1980’s has been attributed to changes in producer’s balance sheets, due to a decline in land prices. After this time, a two-column balance sheet was developed to help prevent that type of balance sheet collapse from occurring in the future.

    Read More »

    Wet and Cool October Ahead

    On September 30, NOAA’s Climate Prediction Center released an update to the October climate outlook. For the Northern Plains, there are some substantial changes to the previous outlook that was issued a couple of weeks ago.

    Read More »

    Bookwork, The Missing Management Component: Part 2 - Depreciation Determination and Use

    In Part 1 of The Missing Management Component we covered the difference an accounting system makes on the Net Income Calculation. The Jones and Smith farms were equal in Net Cash Income, but there was a large discrepancy when the Accrual Method was used to include inventory changes and calculate the Net Income.

    Read More »

    Fifth Anniversary of Western South Dakota Blizzard

    As we remember the fifth anniversary of the winter storm and blizzard that occurred on October 3–5, 2013 (which some call Winter Storm Atlas), the event provides a reminder that it is time to begin preparation and planning for winter weather events that can occur from now through May.

    Read More »

    Bookwork, The Missing Management Component: Part 1 - Farm Income Determination

    It is fair to say that many ag producers do not like bookwork. Many times this job gets pushed to the side, until a bill is due or taxes need to be filed. It is also fair to say it is a missing component to the management of most operations.

    Read More »

    South Dakota Per Pair and Yearling Monthly Pasture Rental Rates for 2018

    The SDSU agricultural land value survey collected 2018 data statewide for cow-calf pairs and yearling monthly pasture rental rates based on South Dakota regions. The cow-calf pair statewide weighted average in 2018 was $48.41 with a high of $61.63 and a low of $35.26.

    Read More »

    Farm Equipment, Safety on the Road, Everyone’s Role

    It is National Farm Safety Week (September 16-22nd) which also serves as a safety reminder for those involved in agriculture. Silage harvest has been going for a couple of weeks and soybean harvest has started in parts of South Dakota.

    Read More »

    2018 South Dakota Pasture Cash Rental Rates

    Average cash rental rates per-acre reflect regional differences in productivity and carrying capacity of pasture and rangeland tracts, with fluctuations in the commodity markets and potential profits, affecting cash rental rates.

    Read More »

    Fall 2018 Climate Outlook

    September begins a change of the seasons to cooler weather. In recent weeks, South Dakota has already had some cooler weather through Dakotafest and State Fair season.

    Read More »

    Rates of Return to Pasture and Cropland Diverge

    The gross rate of return to pasture versus cropland widened in 2018 to a 1.1 percentage point difference compared to 2017. Pasture/rangeland gross rate of return reported in the 2018 survey is 2.4% and for non-irrigated cropland is 3.5% compared to 2017 rates of return at 2.8% for pasture and 3.5% for non-irrigated cropland.

    Read More »

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