AEDE Farm Management Program Overview
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Date
2019-04
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Ohio State University. Office of Outreach and Engagement
Abstract
The poster will give an overview of the Farm Management Program and the services offered to stakeholders throughout the state. The mission of the Farm Management Program is to address critical farm management issues affecting Ohio's agricultural industry. These issues include commodity market and price analysis, agricultural policy changes and impact, risk evaluation, farm financial management, commodity profitability, and new farm venture assessment. The program creates and distributes information and data in partnership with faculty researchers to the public, Extension educators, and external stakeholders.
Description
The poster will give an overview of the Farm Management Program and the services offered to stakeholders throughout the state. The mission of Ohio State's Farm Management Program is to address critical farm management issues affecting Ohio's agricultural industry. These issues include commodity market and price analysis, agricultural policy changes and impact, risk evaluation, farm financial management, commodity profitability and new farm venture assessment. The program creates and distributes information and data in partnership with faculty researchers to the public, Extension educators, and external stakeholders. The Farm Management Program continues to grow and adapt to meet the challenges faced by Ohio producers and ranchers. Sharing information about profitability and social changes contribute to sustainable farming operations that positively influence surrounding communities. Developed with university faculty, Extension educators and input from external stakeholders, three key areas have emerged as strategic focus areas: farm finance, grain markets and marketing, and agricultural impact and analysis. Several tools are currently under development for each area to assist in the decision-making process for producers, lenders and processors. In the focus area of grain marketing, estimates on commodity price based on historical supply and demand datasets were created along with foundations for basis tracking and option scenarios. Monthly reports are published on grain use and price projections. In the area of agricultural impact and analysis, there has been development of two representative farms, one for dairy and one for Ohio row crops, for policy analysis. The farms have been used to stress test the respective industries and identify resilient practices of farm operations. Contribution of agriculture reports for each of Ohio's 88 counties are available for individuals and organizations to reference for policy design and cost benefit analysis. In the focus area of farm finance, the same representative farms mentioned above were used recently to assess the financial impacts of commodity tariffs from trading partners. Ohio's congressional delegation and the Ohio Soybean Association used the results of promote policies that benefit their constituencies. Estimates for per-acre payments for farm bill commodity programs have also been calculated and released to producers and agricultural lenders. Producers can use ARC-CO corn, soybean, and wheat estimates to plan for autumn cash flows. Throughout Ohio, the program manager has provided educational presentations on commodity markets, agricultural policy, alternative business model designs and industry outlook. Attendees of these presentations have been producers, county commissioners, government agencies, and agricultural lenders.
AUTHOR AFFILIATION: Benjamin Brown, program manager, Ohio State Department of Agricultural Environmental and Development Economics, brown.6888@osu.edu (Corresponding Author); Kelli Trinoskey, communications and outreach manager, Ohio State Department of Agricultural, Environmental and Development Economics
AUTHOR AFFILIATION: Benjamin Brown, program manager, Ohio State Department of Agricultural Environmental and Development Economics, brown.6888@osu.edu (Corresponding Author); Kelli Trinoskey, communications and outreach manager, Ohio State Department of Agricultural, Environmental and Development Economics
Keywords
grain marketing, impact analysis, farm finance, policy impacts, agricultural risk
Citation
Engaged Scholars, v. 7 (2019).