Profit Tips

Resource Library

  • Publications
  • Articles
  • Videos
  • News
  • Events

    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).

    Read More »

    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.

    Read More »

    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.

    Read More »

    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.

    Read More »

    2017 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 »

    2017 SDSU Land Value Cash Rental Rate Overview

    According to the 2017 SDSU Farm Real Estate Market Survey average cropland value for the state is $3,903, down 4.7% from 2016. Cropland values saw continued pressure due to low margins for cropland production. Pasture land was steady to slightly down with a decrease of 0.6% and with state average value of $1,215.

    Read More »

    Changes to the 2017 Ag Land Value Survey

    This year marked a year of changes for the SDSU land value survey. The survey was condensed down to incorporate alfalfa hay into crop land and pasture/rangeland now incorporates all grass acres including tame pasture. These changes were made to better reflect the current land use in the state.

    Read More »

    South Dakota Climate & Drought Summary

    As of August 3, 2017, just over 82% of South Dakota is in drought. The area of drought has hovered around 80 percent for the last few weeks. The South and Southeast have gradually worsened recently, due to both dryness and heat.

    Read More »

    Salvaging Drought Stressed Corn in Mid-Summer

    As drought conditions deepen in South Dakota and the surrounding region, many producers are evaluating the status of their corn crop and feed supplies. In some instances the likelihood of corn making a harvestable grain crop is so low that the best option is to take an early forage harvest.

    Read More »

    FSA Programs for Drought Assistance

    Drought conditions across a growing number of South Dakota counties have many livestock producers facing forage shortages. The Agriculture Act of 2014, most commonly known as the 2014 Farm Bill, includes programs designed to assist livestock producers facing extended drought conditions.

    Read More »

    FSA Disaster Assistance During Times of Drought

    As drought conditions continue, counties within the hardest hit areas have an opportunity to apply for emergency funding for farmers and ranchers requiring assistance with water relief and water conservation measures through the USDA Farm Service Agency.

    Read More »

    Annual Forages for Feed

    With the early onset of drought, many livestock producers are concerned about feed supplies. Annual forages may be an option for producers on unplanted fields with good moisture reserves or on failed fields when soil moisture levels improve.

    Read More »

    2017 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 »

    2017 SDSU Land Value Cash Rental Rate Overview

    According to the 2017 SDSU Farm Real Estate Market Survey average cropland value for the state is $3,903, down 4.7% from 2016. Cropland values saw continued pressure due to low margins for cropland production. Pasture land was steady to slightly down with a decrease of 0.6% and with state average value of $1,215.

    Read More »

    Changes to the 2017 Ag Land Value Survey

    This year marked a year of changes for the SDSU land value survey. The survey was condensed down to incorporate alfalfa hay into crop land and pasture/rangeland now incorporates all grass acres including tame pasture. These changes were made to better reflect the current land use in the state.

    Read More »

    The Cost of Late Calvers

    Pounds of beef sold is a key number for cattlemen. Late calvers the cows that drag out the calving season, may cost producers more than extra work and management, they may actually be costing dollars. Standardized Performance Analysis (SPA) has been around for decades. This tool helps determine what the actual costs to raise a calf from breeding to weaning. Many producers create a budget for marketing and financing purposes, but SPA calculates the real, final costs.

    Read More »

    Protecting Higher Cattle Prices

    In early 2017 cattle producers were frustrated by price levels below where fundamental indications suggested they could be. In recent weeks the cash and futures prices have moved higher, finally providing an opportunity for producers wanting solid price protection across different cattle sectors. It may also be a time for any hedgers that implemented protection strategies early in the year to revisit coverage and perhaps roll up to higher floor prices or lock in higher price levels available now.

    Read More »

    Expectations of Farm Income

    Two methods of measuring farm income are used and reported on by the United States Department of Agriculture (USDA) and other reporting sources, Net Cash Farm Income and Net Farm Income. While the two use very similar words, the formulas and use of them is different, and should be understood when reading reports regarding one or the other to discuss and understand the current farm income situation.

    Read More »

    U.S. Beef Trade: Who? What? Why?

    Beef producers and consumers often ask about beef trade, why we import and export? The simple answer is we are trying to receive the highest value for the product produced. The following facts might be helpful to understand the beef industry: the U.S. is the largest producer, largest consumer, fourth-largest exporter and the largest importer of beef in the world according to USDA/Foreign Agricultural Service.

    Read More »

    Farm & Ranch Taxes: 2016 Changes

    Tax rules and regulations change annually, so it is important for producers and tax professionals to stay up to date. For 2016 there have been some changes to the farmers and ranchers tax guide. This article will highlight the majority of the 2016 updates.

    Read More »

    The Importance of Depreciation when Keeping Records

    Depreciation is an important part of keeping records in agriculture. Depreciation is a reduction in the value of an asset over time, due to wear and tear. Things such as tractors, trailers, etc. all depreciate over time. Depreciation is also a way to make an income tax deduction to recover the cost of qualifying assets. Careful consideration of how to report tax depreciation helps producers comply with IRS regulations and can result in a reduction of income taxes paid.

    Read More »

    Cattle Price Trends

    During 2016 cattle prices continued to decline from highs observed in 2014 and 2015. There was continued expansion of cattle inventory levels in 2016, ample feed availability (which contributed to heavier slaughter weights), and expanded supplies of competing meats (such as pork). Early in the year is a good time to assess what those changes mean for price levels and basis expectations to help implement a cattle marketing plan.

    Read More »

    2017 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 »

    2017 SDSU Land Value Cash Rental Rate Overview

    According to the 2017 SDSU Farm Real Estate Market Survey average cropland value for the state is $3,903, down 4.7% from 2016. Cropland values saw continued pressure due to low margins for cropland production. Pasture land was steady to slightly down with a decrease of 0.6% and with state average value of $1,215.

    Read More »

    Changes to the 2017 Ag Land Value Survey

    This year marked a year of changes for the SDSU land value survey. The survey was condensed down to incorporate alfalfa hay into crop land and pasture/rangeland now incorporates all grass acres including tame pasture. These changes were made to better reflect the current land use in the state.

    Read More »

    South Dakota Climate & Drought Summary

    As of August 3, 2017, just over 82% of South Dakota is in drought. The area of drought has hovered around 80 percent for the last few weeks. The South and Southeast have gradually worsened recently, due to both dryness and heat.

    Read More »

    Farmers and Ranchers Needed for Survey

    SDSU Extension is devoted to meeting the needs of South Dakota farmers and ranchers in the state. If you are 18 years-of-age or older and farming or ranching is your occupation, please consider completing a 10-15 minute survey that would help us acquire information to design and implement future programs to serve farm and ranch families.

    Read More »

    FSA Programs for Drought Assistance

    Drought conditions across a growing number of South Dakota counties have many livestock producers facing forage shortages. The Agriculture Act of 2014, most commonly known as the 2014 Farm Bill, includes programs designed to assist livestock producers facing extended drought conditions.

    Read More »

    FSA Disaster Assistance During Times of Drought

    As drought conditions continue, counties within the hardest hit areas have an opportunity to apply for emergency funding for farmers and ranchers requiring assistance with water relief and water conservation measures through the USDA Farm Service Agency.

    Read More »

    Annual Forages for Feed

    With the early onset of drought, many livestock producers are concerned about feed supplies. Annual forages may be an option for producers on unplanted fields with good moisture reserves or on failed fields when soil moisture levels improve.

    Read More »

    South Dakota Drought Update: June 6, 2017

    Dryness has been lingering in South Dakota for the last several weeks. The month of May was near average for temperature, and even a little on the cool side for the Eastern region. But now that temperatures have soared into the nineties and above, in combination with some wind, drought conditions have rapidly taken over Northern South Dakota.

    Read More »

    Is Drought Affecting You?

    Drought conditions have rapidly worsened in South Dakota over the last two weeks. A dry spring season affected early growth in grasses, pastures and yards across much of the northern and central regions. Now that the heat has been turned on, it is challenging for SDSU Extension and others who monitor drought conditions to keep up with the impacts of drought around the state.

    Read More »

    Sign Up For Email!

    • Field Staff Listing
    • South Dakota 4HOnline