Market Journal: Ag Income and Expenses in 2007
May 16, 2008
Lessons Learned from 2007 Farm Income Averages
In the April 9, 2008 Cornhusker Economics newsletter (PDF 130KB), Tina Barrett, director of Nebraska Farm Business Association, shares three lessons learned from 2007 farm records:
Barrett writes: "The increase in cost of production means an increased level or risk on each acre of production. This increased level of risk means that if and when things turn for the worse, the ability for your financial health to quickly go bad, and be worse than ever before, is at a higher level than ever experienced."
Check out Barrett's article in Cornhusker Economics for more information.
On this week's Market Journal, Tina Barrett, director of Nebraska Farm Business Association, discusses ag income and expenses for 2007. The average net farm income for Nebraska Farm Business clients was about $200,000 in 2007, a healthy increase from the previous year. Unfortunately, expenses also increased.
Also on the program this week:
- Cattle prices may hold through summer — Mike Briggs, Seward feedlot owner;
- Controlling winter annual weeds — Lowell Sandell, Extension weed science educator;
- Adjusting insect treatment plans for current crop prices — Bob Wright, extension entomologist; and
- Weather — Al Dutcher, Nebraska state climatologist
Next week's Market Journal will include an analysis of the wheat market by Paul Burgener, Extension ag economics research analyst at the Panhandle Research and Extension Center, Scottsbluff.p>Market Journal broadcast times:
- NET1 - Saturday, 7 a.m. CT
- NET2 - Sunday, 9 a.m. CT
Dish Network, Channel 9411
- Friday, 12:30 p.m. CT
- Sunday, 9:30 p.m. CT
- Wednesday, 8:30 a.m. CT