Gordon E. Groover and Lex Bruce, Department of Agricultural and Applied Economics, Virginia Tech;
This fall USDA National Agricultural Statistical Service (NASS) released cash rental rates for irrigated and non-irrigated cropland and pastureland for Virginia counties and cities.
To view the 2016 rental rates click here 2016_Rental Rates.
Peter Callan, Extension Agent, Farm Business Management, Northern District
As a former dairyman and agricultural lender, I have sat on both sides of the table when a producer is faced with low milk prices and/or drought conditions. This has been the story during the spring and summer of 2016 with depressed milk and grain prices. Many producers have been unable to pay their farm’s operating expenses and loan payments on a timely basis. Speaking from experience, this should not deter producers from communicating with their lenders. Agricultural lenders understand that agriculture is a cyclical business. They realize that current milk and grain prices are below the breakeven costs for many producers. It is during these times that communication between lender and producer is most critical.