Agricultural Economics
Mississippi’s producers know it takes more than growing a crop through to harvest to have a successful business. They must calculate risk, understand state and federal regulations, manage resources wisely, and be able to analyze growing amounts of data. Agricultural economists with the MSU Extension Service provide free tools farmers can use to determine break-even costs. They also keep Extension clients informed about commodity price fluctuations and offer insight into navigating the complexities of the Farm Bill.
2020 Planning Budgets
Enterprise budgets are essential tools for farm planning. MSU Extension has developed the 2020 Planning Budgets for Mississippi which are available on the MSU Department of Agricultural Economics website. You will find enterprise budgets for corn, cotton, soybeans, rice, grain sorghum, wheat, and forages in both pdf format and spreadsheets.
Budgets are included for irrigated and non-irrigated systems, Delta and non-Delta regions, with several different production systems for each crop. The pdf versions include tables with details of resource and input use, monthly cash flow projections, and breakeven analysis. The spreadsheet versions allow the user to make adjustments to the budget to adapt to different prices, input use, and production practices.
Click here to see Dr. Keith Coble's webinar, A First Look at the Farm Bill, from January 31, 2019.
Publications
News
Corn producers who risked current high input costs in hopes of reaping high market prices at harvest are now waiting for a series of warm, sunny days to complete planting. Will Maples, an agricultural economist with the Mississippi State University Extension Service, said high input costs and high market prices have presented challenges to growers trying to decide what crops to plant.
STARKVILLE, Miss. -- More than half of the 4.29 million total acres of row crops expected to be planted this year in Mississippi are soybean fields, but the growth in cotton acreage may be the most significant increase over 2021.
The National Agricultural Statistics Service, a branch of the U.S. Department of Agriculture, released its annual prospective plantings report March 31. Surveys are conducted with farm operators nationwide during the first two weeks of March to collect data on planting intentions for the upcoming season.
STARKVILLE, Miss. -- Two years have passed since the first cases of COVID-19 were confirmed in the U.S., but problems the virus caused in the country’s grocery supply chain could remain well into 2022, which will likely mean higher beef prices for consumers.
Josh Maples, an agricultural economist with the Mississippi State University Extension Service, said labor reductions caused beef shortages, which have increased the price of this commodity across the country.
High fertilizer prices continue to be a hot topic any time farm professionals gather, but now is not the first time costs have doubled or even tripled for some crop staples. Larry Oldham, soil specialist with the Mississippi State University Extension Service, said producers must plan around dramatically rising costs.
High commodity prices in 2021 pushed Mississippi agriculture to a sharp increase in total value -- a record estimated $8.33 billion -- despite a huge decline in government assistance aimed at coronavirus relief. Agriculture’s estimated value is up 19% from 2020.
Success Stories
Mississippi 4-H Introduces New Youth Leadership Positions
Administrators with the Mississippi State University Extension Center for 4-H Youth Development recently announced two new offices for 4-H’ers: president-elect and past president. These new positions will allow the 4-H’ers more training and opportunities, state leaders agree.
A Reward for Hard Work
Doss Family Endows Scholarship for Future Extension Agents
In the Doss family, a strong work ethic is the hallmark of success. That is why, as a tribute to his parents, Roy and Helen, Derrell Doss arranged for their trust to fund a scholarship for Mississippi State University students who want to pursue careers related to agriculture, home economics, and the Extension Service.
Cooperation. Commitment. Grassroots leadership. These shared values unite First South Farm Credit and the Mississippi State University Extension Service in their shared mission to serve Mississippi’s agricultural community. So when the opportunity arose to support the fledgling Thad Cochran Agricultural Leadership Program (TCALP), First South CEO and MSU agricultural economics graduate John Barnard (Class of 1981) jumped at the chance.
