Farm Office Live Webinar to be Held on February 17 at 10:00 a.m.

Ohio’s farm and agribusiness industry are invited to attend OSU Extension’s  “Farm Office Live” webinar on Friday, February 17, 2023 from 10:00 to 11:30 a.m.  The Farm Office Team providing farm management and agricultural and resource law updates during this webinar.

This month’s session topics and featured speakers include:

Ohio Land Values and Cash Rents- Barry Ward

Making the 2023 Farm Bill Decision- Chris Bruynis

Legislative Update- Peggy Hall

Understanding Farm Insurance Policies – Robert Moore

Farm Accounting: Chart of Accounts with a Purpose- Bruce Clevenger

Pandemic Assistance Revenue Program (PARP) & USDA Disaster Declarations- David Marrison

There is no fee to attend this session. Register or watch replays at: go.osu.edu/farmofficelive

Agricultural Guestworkers in Ohio: What We Know and Where We’re Going

Please join OSU Extension, with support from the Farm Financial Management and Policy Institute, and the Ohio Commission on Hispanic and Latino Affairs (OCHLA) on n February 15 from 1:00 to 2:30 p.m. to learn more about agricultural guest workers in our state.

Each year, OCHLA publishes Latino Community Reports designed to educate and facilitate discussion on particular challenges and opportunities facing Hispanic Ohioans. This season’s publication focuses on the H-2A guest worker population in Ohio. During this event, Anisa Kline, author of the report, will present original research results from her survey of 285 H-2A workers across Ohio.  Following her presentation stakeholders from across sectors will respond to her findings.  These panelists will include

Silvia Hernandez (Starting Point Outreach Center), Dr. José Salinas (Ohio Migrant Education Center), Phil Riehm (Riehm’s Produce), and Dr. Margaret Jodlowski (Department of Agricultural, Environmental and Developmental Economics, OSU). This panel will be moderated by OCHLA’s Executive Director, Lilleana Cavanaugh.

This program will be held  in Room 250A of the Agricultural Administration Building at The Ohio State University located at 2120 Fyffe Road in Columbus, Ohio.  A reception with light refreshments will follow starting at 2:30 p.m. This hybrid event is free and open to the public, but registration is required. Click here for registration link.

Click here to access a program flyer about this event

 

USDA ERS America’s Farms and Ranches at a Glance – 2021 Financial Performance

by: Chris Zoller, Extension Educator, ANR in Tuscarawas County

The United States Department of Agriculture Economic Research Service (USDA ERS) released this report (https://www.ers.usda.gov/webdocs/publications/105388/eib-247.pdf?v=4061.7) in December 2022.  The United States Department of Agriculture Economic Research Service America’s Farms and Ranches at a Glance summarizes a number of metrics about U.S. agriculture.  This paper highlights two indicators (Operating Profit Margin and Current Ratio) of the financial performance of U.S. farms and ranches.

Two Definitions

Since the 1970’s, USDA ERS has defined a farm as any place where, each year, $1,000 of agricultural goods were produced and sold.  USDA ERS uses acres of crops and heads of livestock to determine whether the definition is met.  Farm size is measured by Gross Cash Farm Income (GCFI), a measure of revenue, including acres of crops or numbers of head of livestock produced and sold.

Types of Farms

USDA ERS classifies farms into several types.  The following definitions are taken from the report:

Small family farms (GCFI less than $350,000)

  • Retirement farms: Small farms whose principal operators report having retired from farming, though continuing to farm on a small scale.
  • Off-farm-occupation farms: Small farms whose principal operators report a primary occupation other than farming.
  • Farming-occupation farms: Small farms whose principal operators report farming as their primary occupation. Farming-occupation farms are further sorted into two classes:
  • Low-sales: Farms with a GCFI of less than $150,000.
  • Moderate-sales: Farms with a GCFI between $150,000 and $349,999.

Midsize family farms (GCFI between $350,000 and $999,999)

  • Farms with a GCFI between $350,000 and $999,999.

Large-scale family farms (GCFI of $1,000,000 or more)

  • Large farms: Farms with a GCFI between $1,000,000 and $4,999,999.
  • Very large farms: Farms with a GCFI of $5,000,000 or more.

Nonfamily farms

  • Any farm where any operator and any individuals related to them do not own a majority (50 percent) of the business.

The table below summarizes farms by type, number, acres, and value of farm production.

Financial Performance

The Operating Profit Margin (OPM) is one measure of farm financial performance.  The OPM is the share of gross income that is profit.  In 2021, between 50 and 81 percent of small family farms had an OPM in the danger zone (less than 10 percent).

Large family farms, in 2021, were more likely to have a positive OPM (of at least 25 percent).  Positive on-farm income was also more likely for this classification.

Farms in the medium-risk category had an OPM greater than 10 percent and less than 25 percent.  Between 5 percent and 32 percent of these farms were in this category in 2021.

 

The current ratio is another measure of financial performance.  This ratio is calculated by taking current assets divided by current liabilities and is a simple method to determine whether a farm has enough capital to pay current liabilities.  A ratio less than one indicates a farm is unable to pay its current liabilities if all current assets were liquidated.

In 2021, 57 percent of farms had a current ratio greater than one.

In 2021, 52 percent and 47 percent of retirement and off-farm occupation farms, respectively, had the highest percentage of farms with a current ratio of less than 1.  However, many of these farms rely on off-farm income to compensate for the lower current ratio.

Between 23 percent and 25 percent of moderate, mid-size, and large family farms were in danger of being unable to meet current obligations in 2021.

Assistance

If you are interested in learning more about your financial performance, talk to your lender or your local OSU Extension professional about the OSU Extension Farm Business Analysis and Benchmarking Program.  Additional information is available here: https://farmprofitability.osu.edu/.

Reference

America’s Farm and Ranches at a Glance, 2022, United States Department of Agriculture Economic Research Service, available at: https://www.ers.usda.gov/webdocs/publications/105388/eib-247.pdf?v=4061.7

Regional Ag Outlook and Policy Meetings Set for 2023

By: Mike Estadt, OSU Extension Educator, estadt.3@osu.edu

Ohio State University Extension will present its 2023 Regional Agricultural Outlook and Policy Meetings starting in late January and continuing into February. OSU Extension is the outreach arm of Ohio State’s College of Food, Agricultural, and Environmental Sciences, and the main sponsor of the meetings. Economists from the CFAES Department of Agricultural, Environmental, and Development Economics, Extension specialists in tax policy, ag law and meteorology,  along with other college specialists and invited guests, will serve as speakers.

Held throughout the state, the six outlook meetings will address agricultural topics of interest not only in Ohio, but across the Corn Belt as well. Programs will include presentations on grain market outlook; the dairy industry; agricultural law updates; long-term healthcare; Ohio’s changing climate; energy outlook, international economic outlook, farm real estate values and cash rent trends; farmland preservation outlook; agricultural input price projections; and federal tax updates.

The outlook meetings will be hosted jointly by Union, Madison, and Champaign counties; Pickaway and Ross counties; Clinton and Fayette and individually by Defiance County; Wayne County; and Darke County. Click here for program flyer for the entire series.

Jan 20th, Greenville, Ohio

Register at: go.osu.edu/darkeoutlook

January 26th, Wilmington, Ohio

Register at: go.osu.edu/clintonagoutlook

Jan 27th, Plain City, Ohio

Register at: go.osu.edu/TriCountyOutlook

2023 Outlook Breakfast Flyer

February 3rd, Wooster, Ohio

Register at: go.osu.edu/23wayneoutlook

February 14th, Jewell, Ohio

Register at: go.osu.edu/23defoutlook

February 23rd, Circleville, Ohio

Register at: go.osu.edu/pickawayoutlook

“Outlook meetings have useful take-aways that I have seen farm managers use directly for the upcoming season and planning for the future of the farm business.  Farmers are the CEOs of their farm and collecting unbiased information and putting it into action is essential for success”, according to Bruce Clevenger, Extension Farm Management Field specialist.

For more information regarding a program near you, visit the Ohio Ag Manager website at  https://u.osu.edu/ohioagmanager/

 

 

 

 

 

 

 

 

 

Farm Office Live Webinar Slated for December 16

The Farm Office Team of OSU Extension will be holding their December Farm Office Live Webinar on Friday, December 16 from 10:00 to 11:30 a.m. via Zoom. Farm Office Live is a monthly webinar of updates and outlooks of legal, economic, and farm management issues that affect Ohio agriculture.

In this webinar, the teaching team of Peggy Hall and Robert Moore (Attorneys from the OSU Agricultural and Resource Law Program) and Eric Richer and David Marrison (Field Specialists, Farm Management) will share the following topics:

  • Federal and State Legislative and Legal Updates
  • Time to Review Estate Plans
  • Year End Balance Sheet Strategies
  •  Federal Farm Program Updates
  • Food Safety Certification for Specialty Crops Program
  • Emergency Relief Programs
  • House Bill 95 Beginner Tax Credit Update
  • Upcoming Programs

The webinar is free.  Registration and more details can be made at go.osu.edu/farmofficelive

AEDE Outlook and Policy Conference 2022/23 Recap

 The Department of Agricultural, Environmental, and Development Economics (AEDE), held its first in-person Outlook and Policy Conference since 2019 on November 15, 2022, at the 4-H Center on Ohio State Campus.  Below are brief summaries of what each speaker presented, along with copies of their presentations.

Energy Market Outlook (Brent Sohngen):

This presentation examined current trends in energy markets, focusing on factors affecting the supply and demand of oil, natural gas, and renewable energy. These factors include global supply considerations related to OPEC, the Russian invasion of Ukraine and resulting economic sanctions, and US energy policy.  Critical US and Ohio energy policies and their effects on market outcomes in energy markets were examined, with respect to recent legislation related to renewable energy sources. The global demand situation also plays a critical role in energy markets and were examined. Finally, the presentation also considered how widespread net zero commitments by many private companies could influence the future evolution of energy markets domestically and internationally. Energy Market Presentation

Ohio Farm Income Outlook (Ani Katchova):

 The presentation showed how the financial outlook for Ohio farms relative to the US and the Midwest region is based on three main aspects of the agricultural economy: farm income, farm assets and financial stress, and agricultural loans and delinquencies. Farm incomes are expected to increase in 2022 attributable to higher cash receipts despite lower expected government payments and higher production expenses.  The rise in inflation and interest rates makes land a rather attractive investment and farmland prices and cash rents are both anticipated to increase this year. In the long run, farm incomes are expected to experience decreases for the next 2-3 years and then remain relatively stable. Despite the current challenges farmers are facing, farm balance sheets are expected to be stronger with a potential decrease in inflation adjusted farm debt in 2022, which, if realized, would be the first decrease since 2012. Therefore, solvency for both US and Ohio farms are expected to improve this year while Ohio farmers are still struggling with profitability, whereas the US and the Midwest farms outperform Ohio farms with higher returns. Finally, agricultural loan demand was higher for the US last year, while it fell for Ohio. Rising interest rates are expected to decrease the agricultural loan volume this year. Loan delinquency rates have remained consistently lower for Ohio farms compared to the national average in the recent past, and this year is no exception.  Farm Income Presentation

 Labor Market Outlook (Margaret Jodlowski):

 The labor market has experienced significant disruption since the start of the Covid-19 pandemic. While some industries moved toward recovery, the workers in agriculture and agriculture-adjacent subsectors remain difficult to find and retain. This presentation covered the current state of the labor market, both in Ohio and nationally, with a specific focus on the agricultural value chain. Projections will also be provided for the employment situation for the next year, targeting wages as well as availability of employees for firms in various subsectors of the economy. Ohio, along with many neighboring states, has experienced a dramatic increase in the number of H-2A visa workers; the presentation also discussed these trends in terms of what they imply about the future availability of on-farm workers. There was also a short update on the status and implications of labor-related policies that are currently on the horizon.

Labor Market Presentation

International Economic Outlook (Ian Sheldon):

This presentation outlined how the international economic outlook can be characterized by four key factors:  inflation is at a multidecade high, Russia’s invasion of Ukraine, the ongoing effects of the pandemic, and weather events in Europe and elsewhere.  In this environment, the presentation laid out current forecasts for lower global growth, reduced inflation, and trade, and how key downside risks such as macroeconomic policy divergence and mistakes, appreciation of the dollar, and the ongoing war in Ukraine, might negatively influence the global economic outlook.  Global Economic Presentation

 Inflation and Macroeconomic Outlook (Mark Partridge):

 Inflation, recession, high interest rates, war, elections, the economy’s recovery from COVID-19 has been a bumpy ride. The Outlook for 2023 is unsurprisingly uncertain. Particularly the commitment of the Federal Reserve to eliminating inflation at any cost is unknown and the course of geopolitical events has been especially unpredictable. The presentation discussed what the tea leaves say about the economy and provided guidance about the risks facing the economy. Macroeconomic Presentation

Grain Market Outlook (Seungki Lee):

 The grain market outlook focused on corn and soybeans, reflecting the significance of these commodities in Ohio agriculture. The presentation covered supply updates and demand forecasts for the 2022-2023 season, based on the November WASDE report. At the beginning, price indices were presented to provide an overview of market circumstances. As harvest season is almost over, USDA’s prospects on demand shifters such as corn feed, ethanol use, exports were highlighted and discussed in detail. Additionally, several potential wild cards – e.g., fertilizer prices, crop progress in Brazil, etc. – that could shake up the market and change the forecasts were discussed.  Grain Market Presentation

 

 

 

Ag Lender Seminars Offered in October

By Wm. Bruce Clevenger, Ken Ford, Grant Davis, Shelby Tedrow, and Frank Becker

Ohio State University Extension has scheduled four seminars in Ohio for Agricultural Lenders. The dates are Tuesday, October 18th in Ottawa, Ohio; Thursday, October 20 in Urbana, Ohio; Thursday, October 20 in Washington Court House, OH, and Friday, October 21st in Wooster, OH.

These seminars are excellent professional development opportunities for Lenders, Farm Service Agency personnel, county Extension Educators and others to learn about OSU Extension research, outreach programs and current agricultural topics of interest across the state.

2022 Topics and Speakers by Location

Ottawa, OH – October 18th, Putnam Co. Educational Service Center, 124 Putman Parkway, Ottawa, OH  45875

  • Farm Service Agency Loan Program Update – Kurt Leber, Northwest Ohio FSA, District Director – Farm Loan and Farm Program
  • Long Term Care Impacts on Farming Operations – Robert Moore, J.D., Ohio State University Extension, Attorney, OSU Agricultural & Resource Law Program
  • Beef and Small Ruminant Enterprise Opportunities – Garth Ruff, Ohio State University Extension, Field Specialist, Beef Cattle
  • Farm Business Analysis with FINPACK and OSUE Farm Office – Clint Schroeder, Ohio State University Extension, Program Coordinator, Farm Business Analysis
  • Examining Land Values, Rents, Crop Input Costs & Margins & New Tax Policy- Barry Ward, Ohio State University Extension, Leader – Production Business Management & Director – OSU Income Tax Schools
  • Ag Commodity Grain Markets: Trends and Prospects – Seungki Lee, PhD, Ohio State University, Dept of Agricultural, Environmental, & Development Economics

Urbana, OH – October 20th, Champaign Co. Community Center Auditorium, 1512 South US Highway 68, Urbana, OH  43078

  • Farm Service Agency Update – Shari Deao, Champaign County Director, FSA
  • Examining Land Values, Rents, Crop Input Costs & Margins in 2023 – Barry Ward, Ohio State University Extension, Leader – Production Business Management & Director – OSU Income Tax Schools
  • Mental Health and the Agriculture Community – Bridget Britton, Behavioral Health Field Specialist, Ag & Natural Resources, Ohio State University Extension
  • Update on Alternative Energy in Ohio – Eric Romich, Energy Development Field Specialist, Ohio State University Extension
  • Long Term Care Impacts on Farming Operations – Robert Moore, J.D., Ohio State University Extension, Attorney, OSU Agricultural & Resource Law Program

Washington Court House, OH – October 20th, Fayette County Agricultural Center, 1415 US Hwy 22 SW, Washington Court House, OH  43160

  • Farm Service Agency Update – Katie Maust, Fayette County Director, FSA
  • Update on Alternative Energy in Ohio – Eric Romich, Ohio State University Extension, Field Specialist Energy Development
  • Long Term Care Impacts on Farming Operations – Robert Moore, J.D., Ohio State University Extension, Attorney, OSU Agricultural & Resource Law Program
  • Examining Land Values, Rents, Crop Input Costs & Margins & New Tax Policy- Barry Ward, Ohio State University Extension, Leader – Production Business Management & Director – OSU Income Tax Schools
  • Mental Health and the Agriculture Community – Bridget Britton, Behavioral Health Field Specialist, Ag & Natural Resources, Ohio State University Extension

Wooster, OH – October 21st, – Buckeye Agricultural Museum, 877 West Old Lincoln Way, Wooster, OH  44691

  • Timber Management – John Kehn, State Service Forester, Ohio Dept of Natural Resources – Division of Forestry
  • Dairy Economics – Jason Hartschuh, Ohio State University Extension, Extension Educator Crawford County
  • Beef and Small Ruminant Enterprise Opportunities – Garth Ruff, Ohio State University Extension, Field Specialist, Beef Cattle
  • Examining Land Values, Rents, Crop Input Costs & Margins & New Tax Policy- Barry Ward, Ohio State University Extension, Leader – Production Business Management & Director – OSU Income Tax Schools
  • Farm Succession Planning – David Marrison, Ohio State University Extension, Extension Educator Coshocton County

The registration cost to attend one of the Ag Lender Seminars is $75.00 and the registration deadline is one week prior to the seminar you are attending. Payments can be made by check by mail or by credit card (by phone only to 419-782-4771). Registration forms are available online at: https://u.osu.edu/aglenderseminars/

Registration questions can be directed to OSU Extension Defiance County 419-782-4771 or email clevenger.10@osu.edu

OSU Extension conducts the seminars from input from Ag Lenders, County Extension Educators and Extension Specialists.  The seminars are designed to provide information that Ag Lenders will use directly with their customers, indirectly within the lending industry, and as professional development for current issues and trends in production agriculture.  OSU Extension has been offering Ag Lenders seminars for nearly 30 years.

Agricultural Outlook from the Farm Science Review  

by: Professors Ani Katchova, Farm Income Enhancement Chair, Seungki Lee, Ian Sheldon, Andersons Chair of Agricultural Marketing, Trade, and Policy, Department of Agricultural, Environmental, and Development Economics (AEDE), and Chris Zoller, Agriculture & Natural Resources Ohio State University Extension (OSUE) – Tuscarawas County

At this year’s Farm Science Review a panel of AEDE economists chaired by OSUE’s Chris Zoller answered questions about global uncertainty and its impact on agriculture.  Their outlook for farm income, production, and global markets is summarized here.

Farm Income Outlook

Net farm income is expected to increase in 2022, up 5.2 percent from last year, mostly due to higher cash receipts which are offset by lower government payments and higher production expenses (ERS-USDA). High commodity prices are expected to more than buffer the largest-ever year-to-year increase in production expenses. However, farm income is projected to decline in 2023 and 2024 as commodity prices are expected to soften, and then hold steady through 2027 (USDA, Baselines).

The demand for farmland has surged this year due to higher farm income and high farm liquidity. With the return to normal supply of cropland for sale, farmers who have experienced several years of high grain prices have continued to strongly bid for land. Individual investors have also entered the land market as farmland is considered a safe, long-term inflation-hedging investment. This combined heightened demand propelled land prices higher in 2022. This year’s high inflation rate at 8.5 percent is another leading contributor to buoyant land values, yet high interest rates have counteracted it.

In line with high farm income, agricultural credit conditions have also remained strong in 2022, but the pace of improvement has slowed, with higher repayment rates and lower demand for agricultural loans (Federal Reserve Bank of Kansas City). In the past couple of years, the total agricultural loan volume has declined, mostly because of higher farm incomes resulting in fewer production loans. The trends for Ohio farms have followed those for US farms, although the reduction in production loans has not been as large for Ohio.  The rise in interest rates (currently about 3 percent and expected to increase more) to the levels seen in 2018 and 2019 are a major factor contributing to lower loan demand. Overall, an economy with an inflation rate at about 8.5 percent, which boosts land values but also increases farm production expenses, and a higher interest rate, will dampen the farmer’s ability to service debt.

Farm financial performance has improved in 2022 as the agricultural economy has been recovering from the pandemic. Agricultural loan delinquency rates have remained low this year, at 1.9 percent as of the end of the second quarter of 2022, compared to as much as 4 percent in 2012 (FDIC). For Ohio, the delinquency rate was even lower at 1.5 percent, with a total of two Chapter 12 bankruptcies in 2022 so far (FDIC and US Courts). Farm balance sheets are stronger this year than 2021 with an inflation-adjusted increase in assets and equity of about 4% each and a decrease in inflation-adjusted debt by 1.2 percent (ERS-USDA). The increase in farm income is associated with the first decline in total debt since 2012 and the bankruptcy rate being at its lowest level since 2004.

Negative Shifts in Supply and Demand Added to Grain Market Uncertainty

In the September WASDE report, USDA adjusted down its forecasts of both production and usage for major grains. So far, the drop in production has been somewhat overwhelming, resulting in persistently high commodity prices: corn and soybeans were anticipated to have average season prices of $6.75 and $14.35 per bushel respectively. However, prices are equilibrium outcomes, so they are limitedly instructive in a current market featured by contemporaneous shifts in both supply and demand. Consequently, it is important to explore both sides of the market.

In comparison to August, corn and soybean planted acreage and yield expectations have decreased, resulting in total corn and soybean production expected to be down by 5 and 1.5 percent respectively from 2021. Forecast corn and soybean use were reduced by 250 million and 93 million bushels from August. Exports drove the drop. Good weather in its northeast regions is boosting China’s harvest, which will reduce demand for US grain. Brazil is also expected to produce record volumes of corn and soybeans according to the latest observation of planting. Compared to last year, 21 percent more soybeans and 9 percent more corn are expected. As La Niña is expected to be less influential in 2023, the optimistic forecasts for Brazilian production should be taken seriously as it could be the coming season’s most bearish influence.

Lastly, several wildcards exist outside the market. First, the Federal Reserve has raised interest rates to 3 percent this year. Despite interest rates not being highly correlated with commodity prices, such a rate hike can have critical implications. The drastic increase in rates will certainly increase farm capital costs and reduce price competitiveness due to a strong dollar in export markets. Thus, a higher interest rate may burden farmers in terms of both supply and demand. Second, the ongoing war in Ukraine could be another game changer as it could induce further tightening of the energy market if the war continues through winter.

Volatility Will Characterize the Global Market

The global market outlook will be one characterized by continuing price volatility, due to the ongoing effects of the Russian invasion of Ukraine, the impact of drought on global grain production, slow rebuilding of stocks, along with various policy choices.  After two months of the export deal brokered by Turkey and the United Nations (UN) to get Ukrainian grain out through the Black Sea, 218 vessels have already left carrying a total of 4.85 million tonnes, only marginally denting the 20-25 million tonnes trapped in storage (Reuters, September 18).  With Ukrainian exports down 46 percent this year (Reuters, September 25), Russia finding it difficult to export its grain (Bloomberg, September 22), and persistent drought conditions in the United States, South America, and Europe affecting yields, not surprisingly futures prices for wheat, corn and soybeans have risen 17, 28, and 14 percent respectively over the past 12 months (Wall Street Journal, September 21, 2022).

At the same time, commodity prices are proving sensitive to policy pronouncements.  Threats by President Putin to stop Ukrainian grain exports in early-September pushed up wheat futures by 7 percent (Bloomberg, September 7, 2022), while his recent mobilization of Russian reservists and his suggested use of nuclear weapons in Ukraine immediately pushed up both wheat and corn futures (Wall Street Journal, September 21, 2022).  On top of this, India recently announced a 20 percent duty on two thirds of its rice exports, placing more pressure on already high levels of global food insecurity (Bloomberg, August 29, 2022).  With global grain supplies currently remaining tight, analysts are predicting two years of good harvests will be needed to rebuild global grain stocks and relieve market pressure (Wall Street Journal, September 20, 2022).

Planning for 2023

As we review the topics presented by our AEDE experts, phrases like declining farm income, inflation, the war in Ukraine, supply and demand, and global policy movements are evident.  It is becoming increasingly more important to analyze your current situation, critically analyze where and how each dollar is spent, develop a plan (along with back-up plans), execute your plan, and monitor performance.

As you wrap-up harvest, assemble a team of advisors (examples include accountant, lender, agronomist, nutritionist, and Extension Educator) to discuss your production and financial performance in 2022, plan strategies for the coming year, and schedule regular check-in times to monitor progress.

OSU Extension Offering Beginner & Small Farm College in Coshocton and Greene Counties

The Extension offices in Coshocton and Greene counties will be hosting the 2022 Beginner & Small Farm College on October 24, 31 and November 7 from 6:30 to 9:00 p.m. This college is designed to help landowners examine potential ways to increase profits on their small acreage properties. The program is open to all new or aspiring farmers, new rural landowners, small farmers, and farm families.

During this college, participants will be challenged to develop realistic expectations for their new farm business. They will receive information on getting started, identifying the strengths and weaknesses of their property, and developing a farm business plan. Information on farm finances, insurance, liability, labor and marketing will be covered during the college. The topics included in this workshop include:

October 24th-Getting Started on Your New Farm Business

  • Developing real-life expectations for your farm.
  • Examining the available resources and opportunities for your property.
  • Developing a farm business plan, including setting your family and farm mission, goals and objectives.
  • An introduction to marketing and selling agricultural products.

October 31st–Money, Money, Money! Managing your Farm Finances

  • Developing a family and farm balance sheet.
  • Using enterprise budgets to project farm income.
  • Recordkeeping for farm businesses and farm taxes.
  • Managing family and farm income and expenses.

November 7th–There’s More to Farming than Just Growing Stuff!

  • Farm Management for New Farms
  • Setting up your farm business, including choosing a business entity and obtaining employer identification numbers.
  • Farm taxes.
  • Obtaining farm financing.
  • Insurance and liability for farms.
  • Licenses and permits needed for a small farm business.
  • Employer responsibilities related to farm labor and labor laws.

Farm Tour (Date & Location TBD)

Each site host will be planning a farm tour so participants can visit with a successful local farming operation to learn how they started and what they have learned during the development of their farm business.

Registration: The cost is $30 for the first person and $15 for each additional. Registration is limited to the first 50 registrants per location. Registration deadline is October 17th. There are two methods to register for this college.  Registration on-line can be made at: go.osu.edu/smallfarmcollegereg  Registration can also be made by mailing in a registration form to the site host for the location you plan to attend. Click here for registration flyer.

Mail Registrations for Coshocton County Site to:

OSU Extension –Coshocton County

c/o David Marrison

724 South 7thStreet, Room 110

Coshocton, OH 43812

Mail Registrations for Greene County Site to:

OSU Extension –Greene County

c/o Trevor Corboy

100 Fairground Road

Xenia, OH 45385

More Information:

For more information about the Coshocton County location, contact David Marrison at

marrison.2@osu.edu or (740)722-6073

For more information about the Greene County location, contact Trevor Corboy at corboy.3@osu.edu or (937)736-7203

USDA Report: Small Family Farms Produce Majority of Poultry and Eggs, and Hay

by: Chris Zoller, Extension Educator, ANR in Tuscarawas County &  Tony Nye, Extension Educator, ANR in Clinton County

The United States Department of Agriculture Economic Research Service (USDA ERS), in their December 2021 Charts of Note, examined the value of production of seven commodities.  The purpose of the analysis was to determine the percentage of each by type (family and non-family farms) and size of operation.

The USDA ERS defines family farms as those where the principal operator and those associated with the principal operator own most of the business.  USDA ERS defines nonfamily farms as those where the principal operator and those related to the principal operator do not own a majority of the business.

USDA ERS classifies family farms by size, according to gross cash farm income (GCFI):

  • Small family farms – GCFI less than $350,000
  • Midsize family farms – between $350,000 and $999,999 in GCFI
  • Large-scale family farms – $1 million or more in GCFI

The table below summarizes the value of production by type and size of operation.  Small family farms produced the majority of hay (59%) and poultry and eggs (49%) in 2020.  Small family farms also accounted for just over one-quarter of beef production.

 

Ohio State University Extension works with Small Farm Producers throughout Ohio.

Since 2005, Ohio State has been addressing producer needs for small farm production. Our two main efforts include an eight-week Small Farm College course and the Small Farm Conference.

The Mission of OSU Extension Small Farm Programs:

To provide a greater understanding of production practices, economics of land use choices, assessment of personal and natural resources, marketing alternatives, and the identification of sources of assistance for new and small farms in Ohio.

Small Farm Program Objectives:

  • To improve the economic development of small farms in Ohio.
  • To help small farm landowners and families diversify their opportunities into successful new enterprises and new markets.
  • To improve agricultural literacy among small farm landowners not actively involved in agricultural production.

Small Farm Conference

‘Sowing Seeds for Success’  –  the 2022 Small Farm Conference is scheduled for March 12th from 8:00 a.m. – 3:30 p.m. at the Mansfield OSU Campus in Ovalwood Hall.  The campus is just minutes from I-71 and US Rt 30.

This conference is for small farm owners who want to learn more about how to make their farms work better for them or expand their operations. This conference is also useful for those new to agriculture who are looking for ways to utilize acreage. Landowners can attend workshops and presentations on these topics:

    • Horticulture
    • Produce Production
    • Natural Resources
    • Livestock
    • Specialty Crops
    • Farm Management
    • Marketing
    • Miscellaneous Topics

This conference is designed to help participants learn tips and techniques for diversifying their opportunities into successful new enterprises and markets. Combined with a trade show, participants learn new ways to improve economic growth and development on their farms.

Cost is $75.00 per person. Please visit: https://morrow.osu.edu/program-areas/agriculture-and-natural-resources/small-farm-conference  for conference and registration details or call OSU Extension Morrow County 419-947-1070.

The New and Small Farm College

The New and Small Farm College is a seven-week program that introduces new and seasoned farmers to a wide variety of topics. The program teaches participants how to set goals, plan, budget, how to manage financial and farm records, and where to find resources if they choose to start a small farming operation. Other subjects include legal issues, farm insurance and marketing.

Coming in August 2022, this program will be available.  Watch this website for updates on times and locations: https://u.osu.edu/gofarmohio/programs/new-and-small-farm-college/

The cost to attend is $125 and includes a resource binder, meals, all programs including Farm Science Review admission, and a soil test. Additional family members can register for $100 per person (excludes binder).