Five Tips That Can Make Life Easier for Crop Insurance Claims.

Whether its rain, hail, or heavy winds, fall harvest has been rough in Nebraska. Tough weather can mean yield loss and reasons to look at whether losses are covered by your crop insurance.

“Just because you didn’t buy coverage for wind damage, your multi-peril insurance may have you covered depending on your situation,” says Farm Bureau Financial Services agent, Shannon Hannappel.

Hannappel says there are five things farmers should keep in mind if crop insurance claims are on your horizon.

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1. Communicate with your agent right away if you think you have experienced even a slight loss.

“There’s no need to wait. Getting connected with your agent even when you aren’t sure there’s a loss is always the best course of action,” says Hannappel.

2.  Keep good production records.

“If you’re commingling crops in your grain bins, make sure you can clearly identify what crops came from specific fields by marking your bins.

3. Keep irrigated and non-irrigated production yields separate when recording your production.

“At harvest, everyone wants to keep rolling, but taking the time to differentiate between irrigated and non-irrigated yields is important for your APH history and sometimes can determine if you get paid for a loss or not.” 

4. Report your production levels to your agent right away, even if you’re not sure if there’s a loss.

“Don’t wait till February to report production numbers. The sooner we can get the information the better to move a claim.”

5. Post-harvest, be sure to line up a year-end planning conversation with your agent.

“It’s always better if we have the opportunity to visit about what risks your concerned about for the upcoming growing season; especially if you’re looking to make some changes in your operation for the upcoming year, i.e. adding specialty crops or moving from traditional to an organic practice.”

 

 

Hannappel says the goal is to make sure you are protected in a way that meets your operation’s needs.

Latest Crop Production Estimates . . .

Economic Tidbits logo

This year’s Nebraska corn production is forecast to be 1 percent less than last year, and soybean production is forecast to be 1 percent more, according to the latest USDA- NASS estimates released on Thursday.  The latest estimates peg Nebraska corn production at 1.683 billion bushels and soybean production at 316.4 million bushels, a record for the state.  U.S. corn production is forecast at 14.3 billion bushels, down 6 percent from last year, while soybean production is forecast at a record 4.43 billion bushels, up 3 percent from last year.  The percentage changes in production for Nebraska crops are shown in Table 1.
Table 1. Percentage Change in Crop Production, 2016 to 2017

 Corn  -1 %
 Soybeans  +1 %
 Sorghum  – 19 %
 Dry Edible Beans  +49 %
 Sugar beets  +1 %
 Sunflowers  – 4 %
 Alfalfa Hay  + 4 %

Corn and soybeans together typically account for 90 percent of Nebraska’s total crop cash receipts.  As such, changes in revenues for these commodities, along with changes in beef sector revenue, will dictate the overall health of the state’s agricultural economy.  Calculations using the latest USDA production and price estimates suggest cash receipts received by corn and soybean producers could be less for this year’s crop.  Combined receipts for the two crops are estimated to decrease $389 million, or 4.48 percent from last year.  Revenue for the 2017 corn crop is estimated to be $325 million less, or 5.69 percent; revenue for the 2017 soybean crop will be $64 million less, or 2.16 percent less. The reduction in revenue would result in an estimated 0.61 percent reduction in net farm income, or $30.7 million, assuming corn and soybean receipts as a percentage of net farm income is the same as the average from 2008 to 2015.  The decline doesn’t necessarily mean total net farm income for the state will be down, as the beef feedlot sector has enjoyed positive returns for awhile this year.  But any positive returns in the beef industry or other commodity sectors must overcome the declines in corn and soybeans revenues to result in an uptick in income for the state.

 

Jay RempeJay Rempe is the senior economist for Nebraska Farm Bureau. Rempe’s background in agricultural economics, years of experience in advocating at the state capitol, and firm grasp of issues allow him to quantify the fiscal impact of a regulatory proposal, and provide in-depth examination of key issues affecting Nebraska’s farmers and ranchers.

Nebraska County Export Values . . .

 

Economic Tidbits logoInternational trade and foreign markets are critical to Nebraska agriculture.  To get a sense of which Nebraska counties are most reliant on international trade, the Nebraska Department of Agriculture has created a map showing export values by county for select commodities (see below).  Commodities included are beef and beef products, corn, dairy products, distillers grains, ethanol, pork and pork products, pulses, sorghum, soybeans and soybean products and wheat.  The map was created using 2015 Nebraska cash receipts data and attributing shares to counties based on county production data.  Platte County topped the state with export values of $245 million.  Custer, Holt, Boone and Cuming Counties fall in the next tier with export values between $125-$150 million.  Most counties in Nebraska generate at least $25 million in export values, which no doubt contributes significantly to their local economies.

The top counties stand to gain the most from increased access to foreign markets.  Free trade agreements with Mexico, Canada, Korea, Colombia and others, while benefitting all counties, have been particularly beneficial to these counties.  An analysis last year of the benefits of the TransPacific Partnership (TPP) by Nebraska Farm Bureau showed many of these same counties would have benefited from the $378 million in increased receipts Nebraska was projected to receive under the agreement.  The map clearly demonstrates it is in the interest of Nebraska agriculture to continue to press for more open international markets in agricultural products.
county exports

 

Jay Rempe is the senior economist for Nebraska Farm Bureau. Rempe’s background in agricultural economics, years of experience in advocating at the state capitol, and firm grasp of issues allow him to quantify the fiscal impact of a regulatory proposal, and provide in-depth examination of key issues affecting Nebraska’s farmers and ranchers.

Jalapeño Popper Grilled Corn Salad

Jalapeño Popper Grilled Corn SaladIngredients

  • 8 Ears of Corn (olive oil, salt, pepper)
  • 2 Jalapeños – seeds & stems removed, finely chopped
  • 1 Cup Chopped Cooked Bacon
  • 2 ounces Cream Cheese – softened
  • 1/4 Cup Sour Cream
  • 1 Cup Grated Cheddar Cheese
  • Salt/Pepper To Taste

Instructions

  1. Preheat grill.
  2. Coat each ear of corn with olive oil, salt, and pepper.
  3. Place the ears on the grill and cover. Grill 15-20 minutes, rotating every 2-3 minutes.  Remove from the grill and allow to cool for 10 minutes.
  4. When the ears are cool enough to handle, cut the kernels off into a large bowl. Eight ears should yield about 6 cups of corn.
  5. In a small bowl, combine the cream cheese with the sour cream. When blended, stir the creamy mixture into the corn.
  6. Add the chopped jalapenos, bacon pieces, and cheese. Stir to combine.
  7. Serve immediately or chill and serve later.

 

Yield:  about 8 cups of salad

Sam’s Shepard’s Pie

Looking for a fun, easy recipe to fulfill your week? This recipe by Crew Member, Sam Steward, is a quick and delicious version of Shepard’s Pie. Try it tonight!

Shepards Pie - cropped

Ingredients

1 pound of hamburger

1 can of corn

1 can of cream of celery

3 cups of cheese

1 ½ cups onion

3 large potatoes

½ a stick of butter

 

Directions

  1. Preheat oven to 425 degrees and grease an 8×13 pan.
  2. Start by peeling and quarter the potatoes in a medium sized pot and boil until tender.
  3. While the potatoes are boiling, begin chopping 1 ½ cup of onion. Then in a medium sauce pan, melt ¼ stick of butter and start cooking the chopped onion until tender.
  4. Halfway through cooking the onions, add the can of corn and continue cooking until tender.
  5. Once the onion and corn are cooked until tender, add the 1 pound of hamburger and cook until brown.
  6. Salt and pepper the corn, onion and hamburger mixture to taste.
  7. Add the can of cream of celery to the corn, onion, and hamburger mixture.
  8. Once potatoes are cooked, you can start mashing them.
  9. In the greased, 8×13 pan, layer the hamburger mixture on the bottom. Then you can layer the mashed potatoes over top the hamburger mixture.
  10. Sprinkle the three cups of cheese over top and cover with foil.
  11. Place in oven and bake on 400 degrees for 45 minutes.
  12. To get browning of the cheese, broil for 5 minutes.

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Egg, Dairy and Chicken Prices Down, Beef Too

CS16_167 2016 Fall Harvest Marketbasket SurevyLower retail prices for several foods, including eggs, whole milk, cheddar cheese, chicken breast, sirloin tip roast and ground chuck resulted in a decrease in the American Farm Bureau Federation’s Fall Harvest Marketbasket Survey.

The informal survey shows the total cost of 16 food items that can be used to prepare one or more meals was $49.70, down $4.40 or 8 percent compared to a survey conducted a year ago. Of the 16 items surveyed, 13 decreased and three increased in average price.

Egg prices dropped significantly due to production recovering well from the 2014 avian influenza, according to John Newton, AFBF director, market intelligence. Milk prices are down substantially from prior years, particularly compared to record-highs in 2014, due to the current global dairy surplus.

“For all commodities in agriculture there is a lot of product on hand and prices are depressed,” Newton explained.

The following items showed retail price decreases from a year ago:

  • eggs, down 51 percent to $1.48 dozen
  • chicken breast, down 16 percent to $2.86 per pound
  • sirloin tip roast, down 11 percent to $5.04 per pound
  • shredded cheddar, down 10 percent to $4.09 per pound
  • whole milk, down 10 percent to $2.84 per gallon
  • ground chuck, down 9 percent to $4.13 per pound
  • toasted oat cereal, down 9 percent to $2.80 for a nine-ounce box
  • vegetable oil, down 9 percent to $2.39 for a 32-ounce bottle
  • flour, down 7 percent to $2.21 per five-pound bag
  • white bread, down 7 percent to $1.58 for a 20-ounce loaf
  • orange juice, down 5 percent to $3.26 per half-gallon
  • bacon, down 3 percent to $4.40 per pound
  • sliced deli ham, down less than 1 percent to $5.45

These items showed moderate retail price increases compared to a year ago:

  • bagged salad, up 16 percent to $2.85 per pound
  • apples, up 10 percent to $1.59 per pound
  • potatoes, up 3 percent to $2.73 for a 5-pound bag

“Dry conditions in the Northeast and Northwest the last few years likely contributed to smaller supplies and higher retail prices for apples,” Newton said. In addition, he said salad prices are up due to lower output in the West, particularly in California and Arizona.

Price checks of alternative milk and egg choices not included in the overall marketbasket survey average revealed the following: 1/2 gallon regular milk, $1.86; 1/2 gallon organic milk, $4.26; and one dozen “cage-free” eggs, $3.48.

The year-to-year direction of the marketbasket survey tracks with the federal government’s Consumer Price Index report for food at home. As retail grocery prices have increased gradually over time, the share of the average food dollar that America’s farm and ranch families receive has dropped.

“Through the mid-1970s, farmers received about one-third of consumer retail food expenditures for food eaten at home and away from home, on average. Since then, that figure has decreased steadily and is now about 17 percent, according to the Agriculture Department’s revised Food Dollar Series,” Newton said.

Using the “food at home and away from home” percentage across-the-board, the farmer’s share of this $49.70 marketbasket would be approximately $8.45.

AFBF, the nation’s largest general farm organization, began conducting informal quarterly marketbasket surveys of retail food price trends in 1989. The series includes a Spring Picnic survey, Summer Cookout survey, Fall Harvest survey and Thanksgiving survey.

According to USDA, Americans spend just under 10 percent of their disposable annual income on food, the lowest average of any country in the world. A total of 59 shoppers in 26 states participated in the latest survey, conducted in September.

All-American July 4th Cookout Ticks Up, Still Under $6 Per Person

A cookout of Americans’ favorite foods for the Fourth of July, including hot dogs, cheeseburgers, pork spare ribs, potato salad, baked beans, lemonade and chocolate milk, will cost slightly more this year but still comes in at less than $6 per person, says the American Farm Bureau Federation.

Farm Bureau’s informal survey reveals the average cost of a summer cookout for 10 people is $56.06, or $5.61 per person.

CS15_075 July 4th Marketbasket Survey_2015Although the cost for the cookout is up slightly (less than 1 percent), “Prices in the meat case are starting to look better from the consumers’ perspective,” said Veronica Nigh, an AFBF economist. “Retail ground round prices are trending lower,” she noted, pointing to the nation’s cattle inventory and commercial beef production, which continue to rebound from dramatically low levels in 2014 and 2015.

In addition, “On the pork side, commercial production also continues to grow and is at the highest level in 25 years,” Nigh said. Spare rib prices are about the same as a year ago, while the amount of product in cold storage is up 121 percent, Nigh pointed out. “This is helping mediate the normal seasonal upswing in spare rib prices we typically see around the July 4th festivities,” she said.

AFBF’s summer cookout menu for 10 people consists of hot dogs and buns, cheeseburgers and buns, pork spare ribs, deli potato salad, baked beans, corn chips, lemonade, chocolate milk, ketchup, mustard and watermelon for dessert.

Commenting on factors driving the slight increase in retail watermelon prices, Nigh said, “While watermelons are grown across the U.S., most come from four states – Texas, Florida, Georgia and California – which together produce approximately 44 percent of the U.S. crop. Shipments of watermelons are down nearly 8 percent compared to the same time period last year,” she said.

U.S. milk production is up 1 percent compared to the same period last year. During the first quarter of 2016 (January-March), U.S. milk production reached historic levels, putting significant downward pressure on the price farmers receive for their milk.

Nigh said the increase in the price of cheese slices highlights the spread in prices that often occurs between values at the farm, wholesale, and retail stages of the production and marketing chain.

A total of 79 Farm Bureau members (volunteer shoppers) in 26 states checked retail prices for summer cookout foods at their local grocery stores for this informal survey.

The summer cookout survey is part of the Farm Bureau marketbasket series, which also includes the popular annual Thanksgiving Dinner Cost Survey and two additional surveys of common food staples Americans use to prepare meals at home.

The year-to-year direction of the marketbasket survey tracks closely with the federal government’s Consumer Price Index report for food at home. As retail grocery prices have increased gradually over time, the share of the average food dollar that America’s farm and ranch families receive has dropped.

“Through the mid-1970s, farmers received about one-third of consumer retail food expenditures for food eaten at home and away from home, on average. Since then, that figure has decreased steadily and is now about 17 percent, according to the Agriculture Department’s revised Food Dollar Series,” Nigh said.

Using the “food at home and away from home” percentage across-the-board, the farmer’s share of this $56.06 marketbasket would be $9.53.

July 4th Cookout for 10 Costs Slightly More

Items Amount 2014 Price 2015 Price 2016 Price % change
Ground Round 2 pounds $  8.91 $  9.10 $  8.80 -3.3%
Pork Spare Ribs 4 pounds $13.91 $13.44 $13.36 -0.6%
Hot Dogs 1 pound $  2.23 $  2.19 $  2.09 -4.6%
Deli Potato Salad 3 pounds $  8.80 $  8.58 $  8.76  2.1%
Baked Beans 28 ounces $  1.96 $  1.83 $  1.90  3.8%
Corn Chips 15 ounces $  3.37 $  3.26 $  3.17 -2.8%
Lemonade 0.5 gallon $  2.00 $  2.05 $  2.04 -0.5%
Chocolate Milk 0.5 gallon $  2.82 $  2.65 $  2.50 -5.7%
Watermelon 4 pounds $  4.53 $  4.21 $  4.49  6.7%
Hot Dog Buns 1 package $  1.63 $  1.57 $  1.61  2.5%
Hamburger Buns 1 package $  1.68 $  1.50 $  1.59  6.0%
Ketchup 20 ounces $  1.36 $  1.46 $  1.44 -1.4%
Mustard 16 ounces $  1.25 $  1.14 $  1.24  8.8%
American Cheese 1 pound $  3.12 $  2.86 $  3.07  7.3%

Total $ 57.57 $ 55.84 $ 56.06  0.4%
Per Person 10 $   5.76 $   5.58 $   5.61  0.4%