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
STONEVILLE, Miss. -- Agricultural producers hoping for some relief from recent high fertilizer prices are not likely to find it in 2023.
Brian Mills, Mississippi State University Extension Service ag economist at the Delta Research and Extension Center in Stoneville, said fertilizer prices are expected to remain at 2022 levels.
“We do have good, high crop prices, and with high crop prices, you usually see input costs stay high and go up,” Mills said.
Mississippi agricultural producers shattered previous records in 2022 with an estimated $9.7 billion in production value based on high market prices that almost kept pace with higher production costs.
STARKVILLE, Miss. -- Poultry was already Mississippi’s top agricultural commodity before its overall value increased even more in 2022.
The estimated value of production for the state’s poultry in 2022 was $3.8 billion. This 48% increase over 2021’s record production value of $2.6 billion will rewrite the record books if these totals hold when the final numbers are released by the U.S. Department of Agriculture next April.
Mississippi State University is the lead partner on a $10 million grant from the U.S. Department of Agriculture to conduct climate-smart projects. Beth Baker, an Extension specialist in natural resource conservation in agroecosystems, is the lead investigator on the grant project announced Sept. 14
Most cotton in Mississippi got off to an excellent start in May, received the heat needed in June and July, and now is ready for sunny skies so growers can harvest a potentially above-average crop. The U.S. Department of Agriculture estimates 56% of the crop is in good or excellent shape, with another 38% estimated at fair. As of Aug. 28, bolls were opening on an estimated 25% of the crop.
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.
