Production and Farm Management
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Item Open Access 2012 drought in Colorado: estimates of foregone revenues, indirect and induced economic activity for the crop sector(Colorado State University. Libraries, 2013-08) Goemans, Christopher, author; Pritchett, James, author; Nelson, Ron, author; Colorado State University, Department of Agricultural and Resource Economics, publisherPrecipitation, whether realized as rain showers during the growing season or stored as snowmelt in reservoirs, is critical for crop and pasture production in Colorado. Drought is the persistent absence of precipitation, and this lack of moisture results in reduced yields, fewer harvested acres and less forage for livestock. Since October of 2010, extreme drought has plagued agricultural producers throughout much of Southern Colorado, and in May of 2012 the drought advanced to encompass the entire state. Agriculture is absorbing faced with economic hardship and drought impacts statewide. The primary objective of this research is to describe and quantify the broader economic impacts of the drought on agricultural productivity and allied economic activity in Colorado. The scope of the analysis takes three forms: a description of agricultural production and prices received for important Colorado crops; calculation of actual 2012 crop revenues juxtaposed against what might have been received if harvested acres and yields were consistent with historical averages; and a broader estimate of the drought's economic impact by accounting for reduced input purchases and wages spent locally.Item Open Access Adaptations to drought: evidence from ag producer survey(Colorado State University. Libraries, 2013-07) Pritchett, James, author; Goemans, Christopher, author; Nelson, Ron, author; Colorado State University, Department of Agricultural and Resource Economics, publisherColorado's ongoing drought is in its significant geographic reach and economic impacts. For Ncondition, reduces cow condition and leads to difficulty in locating critical feed inputs. These production losses generally reduce revenues although declining receipts may be partially offset by higher prices. Yet, the drought's impacts to the farm or ranch business are not contained within a single season. Much like reservoir levels that are drawn down and may take years to replenish, the impact of a drought can reduce a farm or ranch's equity position making it difficult to service debt or take advantage of future investment opportunities. Equity erosion may take years to rebuild. In this article, recent drought survey responses are described in order to characterize the potential longer term impacts of drought. Emphasis is placed on production losses and producers' mitigating actions. While it is difficult to forecast the length of the recovery period for Colorado farmers and ranchers, their adaptations and changing production activities in 2012 do indicate the severity and persistence of financial stress.Item Open Access Ammonia BMP inventory focus group and next steps(Colorado State University. Libraries, 2011-12) Pritchet, James, author; Faulkner, Brock, author; Colorado State University, Department of Agricultural and Resource Economics, publisherFeedlot, swine and dairy managers often invest in science based research to improve the efficiency of their operations and to enhance stewardship of air and water resources. When addressing air quality concerns such as nitrogen deposition in Rocky Mountain National Park, one investment opportunity is to implement best management practices (BMPs) to help reduce ammonia emissions from agriculture systems. The focus group discussion provides significant insight and opportunity for bench-marking the ammonia BMPs currently used by agricultural producers and uncovering the barriers to wide-spread adoption of BMPs.Item Open Access Beef stocker/yearling budget: summer pasture(Colorado State University. Libraries, 2004) Dalsted, Norman, author; Pritchett, James, author; Colorado State University, Department of Agricultural and Resource Economics, publisherItem Open Access Demographics, production characteristics and financial performance executive summary: a comparison of low-sales, medium-sales, and large family farm operations in the United States(Colorado State University. Libraries, 2011-12) Pritchett, James, author; Johnson, Kamina, author; Seitzinger, Ann, author; Thilmany, Dawn, author; Pendell, Dustin, author; Colorado State University, Department of Agricultural and Resource Economics, publisherThe financial performance, resilience and long run sustainability of small and mid-sized farms and ranches are an important concern for agriculture's stakeholders and policy makers. A determined effort to uncover the ingredients of small operations' successes initiated this analysis of data from the 2008 Agricultural Resource Management Survey (ARMS)3 that is conducted by USDA's Economic Research Service (ERS) and National Agricultural Statistics Service (NASS). This document is an executive summary of the findings from the three fact sheets, and it will detail the methods used to categorize operations from the 2008 ARMS data. Broad themes are summarized from results and opportunities for future research noted.Item Open Access Enterprise budgeting for small farms: a market basket approach(Colorado State University. Libraries, 2008) Lloyd, Jennifer, author; Thilmany, Dawn, author; Colorado State University, Department of Agricultural and Resource Economics, publisherItem Open Access Enterprise budgeting: an application to San Luis Valley grass fed cattle operations(Colorado State University. Libraries, 2005) Wilson, Joshua, author; Thilmany, Dawn, author; Colorado State University, Department of Agricultural and Resource Economics, publisherItem Open Access Farmer resiliency under drought conditons(Colorado State University. Libraries, 2013-07) Nelson, Ron, author; Goemans, Christopher, author; Pritchett, James, author; Colorado State University, Department of Agricultural and Resource Economics, publisherColoradoans continue to experience severe drought conditions resulting in significant economic losses. The ongoing drought has led to widespread crop failures, damaged rangelands and reduced livestock productivity. The drought's financial impacts will be felt by agricultural producers for years to come and may threaten the long-term economic viability of some agricultural operations. Nearly all operations are less resilient to future shocks when compared to conditions before the drought. The purpose of this document is to shed light on some aspects of Colorado agricultural operations' lost resiliency.Item Open Access Financial planning for dairies in a period of significant market dynamics(Colorado State University. Libraries, 2010) Herrington, Matt, author; Smith, Jessie, author; Moyer, Kelly, author; Sieck, Justin, author; Dalsted, Norm, author; Colorado State University, Department of Agricultural and Resource Economics, publisherItem Open Access Flood damage losses to agricultural crops in Colorado(Colorado State University. Libraries, 2013-11) Dalsted, Norman L., author; Deering John, author; Hill, Rebecca, author; Sullins, Martha, author; Colorado State University, Department of Agricultural and Resource Economics, publisherThe period from September 9-16, 2013 saw unprecedented rainfall in many parts of Colorado, and 17 counties were significantly impacted by heavy rain and flooding. The estimated value of the lost production is somewhere between $3.4 and $5.5 million. The flood resulted in many other losses for the farmers and ranchers. This does not include damage to fences, some stacked hay, irrigation systems, roads, bridges, homes and farm/ranch buildings, wells, and other related structures and machinery. Wet fields which may delay the harvest, debris in fields, and temporary relocation of livestock are a problem for many producers. While the moisture received in most areas was a welcome relief from dry conditions which has plagued Colorado, the record rainfall did come at a significant cost to many producers.Item Open Access Operator and operation characteristics: a comparison of low-sales, medium-sales, and large family farm operations in the United States(Colorado State University. Libraries, 2011-12) Johnson, Kamina, author; Seitzinger, Ann, author; Thilmany, Dawn, author; Pendell, Dustin, author; Pritchett, James, author; Colorado State University, Department of Agricultural and Resource Economics, publisherThe paper analyzes operator and operation characteristics for the smaller and mid-sized farms such as regional influences, age, and educational backgrounds of the operators and their spouses according to their return on assets (ROA). These farms were categorized by size based on gross sales and ranked in quartiles according to the ROA.Item Open Access Production resources and management: a comparison of low-sales, medium-sales, and large family operations in the United States(Colorado State University. Libraries, 2011-12) Pendell, Dustin, author; Johnson, Kamina, author; Pritchett, James, author; Thilmany, Dawn, author; Seitzinger, Ann, author; Colorado State University, Department of Agricultural and Resource Economics, publisherFarm sustainability, resilience and performance are closely tied to the effectiveness with which managers use their assets and costs. This fact sheet investigates the cost and asset efficiency of agriculture operations that are categorized according to their sales and ranked by their rate of return on assets. The size of the operations, input purchases and labor productivity are particular areas of emphasis.Item Open Access Profitability measures and financial structure: a comparison of low-sales, medium-sales, and large family operations in the United States(Colorado State University. Libraries, 2011-12) Thilmany, Dawn, author; Pendell, Dustin, author; Johnson, Kamina, author; Seitzinger, Ann, author; Pritchett, James, author; Colorado State University, Department of Agricultural and Resource Economics, publisherAnalysts use financial ratios to evaluate the performance and sustainability of businesses including farms and ranches. In this fact sheet we evaluate the performance of farms and ranches ranked according to their return on assets (ROA). The operations are divided into classes by sales volume, so that high, average and low financial performance is compared both within and across sales classes. These comparisons provide insights into the nature and cause of variation in performance across operations.Item Open Access Water leasing: opportunities and challenges for Colorado's South Platte Basin(Colorado State University. Libraries, 2008) Thorvaldson, Jennifer, author; Pritchett, James, author; Jha, Ajay, author; Hansen, Neil, author; Colorado State University, Department of Agricultural and Resource Economics, publisher