Cornhusker Economics Examines the Many Impacts of this Year's Drought - UNL CropWatch, August

Cornhusker Economics Examines the Many Impacts of this Year's Drought - UNL CropWatch, August

August 17, 2012

In several recent issues of Cornhusker Economics, faculty from the UNL Department of Agricultural Economics have addressed farm and ranch management in times of crisis, including economic impacts from this year's drought and resources to aid with management. 

The 2012 Drought: Some Economic Implications
Bruce Johnson, Professor, Department of Agricultural Economics

There is an old saying about Mother Nature in baseball vernacular: Nature always bats last and bats a thousand.
Unfortunately, we are witnessing Mother Nature doing just that this year, and she happens to be on the opposing team. Early projections place Nebraska's aggregate net farm income at $3.5 billion, about 10% below the most recent five-year average and more than 35% below that of 2011, a record year for income. How will the state's producers fare at a farm or ranch level.  MORE

Agricultural Disaster Assistance
Brad Lubben, Extension Policy Specialist

The 2008 farm bill substantially changed how Congress managed ag disaster assistance.  To address the uncertainty of ad hoc legislation and the challenge of emergency funding, the farm bill included permanent authority and funding for a portfolio of ag disaster assistance programs. The certainty of this legislation only lasted through 2011, when authorization and funding expired. Disaster assistance for this year is likely and will be before Congress when it returns in September.  That said, there are a number of other programs that can provide assistance to producers suffering from drought, fire, flood or other calamity.  Learn more about what's available to help producers mitigate losses and recover from a natural disaster. MORE

Making Good Management Choices During a Time of Crisis
Matthew Stockton, Agricultural Economist, West Central Research and Extension Center, North Platte

An agricultural business usually faces two types of crisis, those that come on quickly without warning and require instant action and those that can be anticipated.  Learn how to be better prepared for either type by taking these five steps. MORE