Serving proudly since 1873 as the beautiful Nebraska Panhandle's first newspaper
Serving proudly since 1873 as the beautiful Nebraska Panhandle's first newspaper
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Some farm leases are not written but are verbal or "handshake" agreements. Because nothing is in writing, the parties may have different recollections of their agreement, making lease disputes more difficult to resolve. The most common legal issue associated with verbal farm leases is how a lease may legally be terminated. For verbal leases in Nebraska, six months advance notice must be given to legally terminate the lease. In contrast, the termination of a written lease is determined by the terms of the written lease. If the lease does not...
The market value of agricultural land in Nebraska increased by five percent over the prior year to an average of $4,015 per acre, according to the preliminary results of the 2024 Nebraska Farm Real Estate Market Survey. This marks the third consecutive year of increases in the market value of agricultural land in Nebraska, setting another high in the non-inflation-adjusted statewide land value in the survey's 46-year history. The University of Nebraska-Lincoln's Department of Agricultural Economics annually surveys land industry professionals...
As we roll into mid-summer, many farmers are looking for opportunities to do some forward contracting for fall. This has led some farmers to ask, “What is a ‘good’ price for 2024 corn?” When asking yourself this question, recognize that “good” is a relative term. A good price for one farmer may not be a good price for another. First, determine what you are comparing the price against. Once you have determined your measuring stick, we can assess the viability of a price. Here are a few comparisons you might want to make as you consider pr...
By Jessica Groskopf, Nebraska Extension Agricultural Economist For many farm and ranch families, bringing children or grandchildren into the operation is the ultimate goal. Successfully bringing additional family members into the operation may require some creativity, as all parties need to maintain a viable standard of living. This series of articles will highlight ideas and tactics for bringing another family member into the operation. One tactic is to provide new family members with monetary compensation, such as an hourly wage or salary. Th...
For many farm and ranch families, bringing children or grandchildren into the operation is the ultimate goal. Successfully bringing additional family members into the operation may require some creativity as all parties need to maintain a viable standard of living. This is the first in a series of articles that will highlight ideas and tactics for bringing another family member into the operation. One tactic is to provide new family members with monetary compensation, such as an hourly wage or...
The deadline to enroll in Farm Programs is quickly approaching on March 15, 2021. Producers have the option to change enrollment between Agricultural Risk Coverage (ARC) or Price Loss Coverage (PLC). But the question is, “which one should I choose?” Whatever your choice, you need to contact your local FSA office to schedule an appointment for enrollment. To answer the ARC vs. PLC question, first look at each farm’s “base acres.” Base acres refer to a farm’s historical plantings enrolled in farm programs and have a program commodity assigned to...
Preliminary results from the Nebraska Farm Real Estate Market Survey released by the University of Nebraska-Lincoln revealed that Nebraska Panhandle agricultural land declined in value for the reporting year ending Feb. 1, 2018. The average farmland value in the region is estimated to be $720 per acre. This is 5 percent lower than the prior year. This is the fourth consecutive year of market value decline. The eight major types of land reported in the survey declined in value from 2017-18 across the state. In the Panhandle, gravity irrigated...
Nebraska farms have received an estimated $550 million in farm-program payments from the U.S. Department of Agriculture Farm Service Agency as of Nov. 3 under new programs authorized in the Agricultural Act of 2014. Payments have been made to farms in the Nebraska Panhandle with corn, sorghum and oat base enrolled in the County Agricultural Risk Coverage (ARC-CO) program. No Price Loss Coverage (PLC) payments were made in Nebraska. ARC-CO payments are triggered when the average county revenue for a covered commodity is less than the county reve...
