Over the past five years, Southern SAWG and our partners have helped hundreds of diversified vegetable producers improve their profitability with our Growing Farm Profits program. Now the Southern SAWG training team has drilled down a little deeper into some of the recurring issues farmers face as they wrestle with profitability on their farms. This fall we will be addressing three of these issues in a series of one-hour webinars specifically designed for agricultural professionals who help diversified vegetable producers in the South. All webinars will begin at 3:30 p.m. (Eastern) and are free of charge. Here’s the rundown (see http://www.ssawg.org/growing-farm-profits for details):
Gordon Groover, Extension Economist, Department of Agricultural & Applied Economics, Virginia Tech
Time to order your farm record book. As we enter the last quarter of 2015, it is time to order a new copy of the Virginia Cooperative Extension “Farm Record Book: Expenses and Receipts” (Publication 446-017). This 120-page record book provides an organized way of keeping track of annual financial, labor and personnel, and production-related records. It provides forms for many categories of expenses, receipts, labor, and financial summaries to meet the needs of most agriculturally-related businesses using cash accounting methods. Column headings are included for major items with some columns remaining blank for your own headings. Forms are arranged to facilitate transferring totals to income tax forms (Schedule F, tax deprecation, and Form 4797) and to help complete end-of-the-year analysis. Virginia Cooperative Extension “Farm Record Book: Expenses and Receipts” is available from Virginia Cooperative Extension for $12.00. Call or visit your local extension office to order VCE Publication 446-017. If you want to order 446-017 online (there is an $8.00 shipping charge) visit https://pubs.ext.vt.edu/446/446-017/446-017.html for instructions. If you have questions contact me at (540) 231-5850.
Lex Bruce, Research Associate, Department of Agricultural and Applied Economics, Virginia Tech; Gordon E. Groover, Extension Economist, Farm Management, Department of Agricultural and Applied Economics, Virginia Tech
This winter USDA National Agricultural Statistical Service (NASS) released cash rental rates for irrigated and non-irrigated cropland and pastureland for Virginia counties and cities.
- Table 1 – listing of 2014 rental rates by jurisdiction for irrigated and non-irrigated cropland and pastureland
- Table 2 – listing of counties and cities in each NASS crop reporting district
To view rental rates click here 2014_Rental Rates.
Jim Pease, (email@example.com) Professor
Agricultural and Applied Economics, Virginia Tech
If you’re a producer who has not yet filed an FSA form CCC-857 for your election of Agriculture Risk Coverage (ARC) or Price Loss Coverage (PLC), there is little time remaining to make an appointment with your local FSA office. The deadline is March 31, 2015 for this important commodity program decision. Continue reading
Jim Pease, Professor, Department of Agricultural and Applied Economics, Virginia Tech
*this post has been updated since its original posting on Friday, February 27
I received a question yesterday about choosing PLC vs ARC for the corn commodity program (for explanation of these programs, see http://www.fsa.usda.gov/FSA/webapp?area=home&subject=arpl&topic=landing). Farmers want a straight answer to the question, “Which program should I choose?’ It’s a good question, but doesn’t have an easy answer, since some critical data is as yet unknown. Recently available information may alter the decision for some producers. The message conveyed below is, “Don’t base your ARC/PLC choice only on expected 2014 payments.” I’ll show estimated corn ARC/PLC payments for King William, Northampton and City of Suffolk to demonstrate the message.
Tom Stanley; Extension Agent for Farm Business Management, Tom Stanley
To view the results in PDF click on this link: 2015 Land Rental Guide for The Central Shenandoah Valley and Alleghany Highlands.
The New River Valley Grape Growers Association and Mingle on the Mountain Networking Dinner will take place on December 9th at the Mountain Lake Lodge. Over dinner, presentations will be provided by Dr. Gustavo Ferreira on web marketing and social media for small businesses, the Virginia agritourism industry and the profitability of tasting rooms. Randy Rose, from Virginia Tourism Corporation, will talk about the marketing services available at the state level. For additional details see:
Gordon Groover and Gustavo Ferreira, editors.
The lead article in October 1992 Farm Management Update started out as follows, “In your hands is the first copy of the Farm Management Update.” Over the last 22 years we have transitioned from a hardcopy publication to an internet blog. The name has also changed from Farm Management Update to the Farm Business Management Update and now the name going forward will be AAEC Extension Update. Our commitment to provide timely and quality information has not changed, and our publication will continue to address a broad range of issues and problems affecting Virginia’s agricultural and rural communities. Thanks!
Jim Pease, Extension Economist, Dept. of Agricultural and Applied Economics, Virginia Tech
- Total market value of sales rose $847m from 2007 (+29%), the highest ever recorded in a Virginia ag census. Crop sales increased $501.8m (+58.5%) over 2007, and livestock sales increased $345.3m over 2007 (+16.9%). Despite the increase in crop sales, Virginia 2007 farm livestock, poultry and animal product sales were still nearly 64% of total sales.
- Total farm expenses rose $783m from 2007 (+29%), keeping pace with the increase in farm sales since 2007. Among major expense categories, livestock and poultry purchased/leased increased 31%, feed purchased increased 47%, fertilizers increased 24%, and hired labor increased 21%. Continue reading
Dr. Jim Pease gives insight into the Commodity Title, Conservation Title and relevant portions of the Crop Insurance Title pieces of the Agricultural Act of 2014 this tapped webinar:http://connect.ag.vt.edu/p38z40z47yg/?launcher=false&fcsContent=true&pbMode=normal. Continue reading