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April 17, 2014 Volume 18 Issue 8
Check out our Agstuff Classifieds
Ag Land Values Show Big Increase
Pages 24-27
FFA . . . . . . . . . . . . . . . . . . . . . . . 7-11 Welcome to Kearney Map . . 19-21 Weather ..............................2
Country Living House Plan. . . . . . . . . . . . . . . . . . . . 3 Quilt Pattern. . . . . . . . . . . . . . . . . . . 5
The Lighter Side Lee Pitts . . . . . . . . . . . . . . . . . . . . . . 4
Markets Grains . . . . . . . . . . . . . . . . . . . . . . . 12 Livestock . . . . . . . . . . . . . . . . . . . . . 17
Government Report Government Report . . . . . . . . . . . . . 6
Ag Management Kearney County Groundwater Project Takes Small Steps Forward . . . . . .18
Livestock News Heartland Cattleman . . . . . . . . . . . 16
Production News Check for Army Cutworms in Alfalfa . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
Schedule of Events . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
Robert Pore, The Grand Island Indepent A report showing that agricultural land valuations increased by 29.12 percent over the previous year is another example of why Nebraska tax laws need to be changed, said Steve Nelson, Nebraska Farm Bureau president. The Nebraska Department of Revenue's Property Assessment Division released the report on Monday, April 15. The increase in agricultural land valuations in Hall County was even greater — 40.73 percent, according to the report. For surrounding counties, agricultural land valuations from 2013 to 2014 increased by 36.79 percent in Adams County; 34.16 percent, Buffalo;
29.34 percent, Custer; 37.37 percent, Hamilton; 37.32 percent, Howard; and 28.06 percent, Merrick. Nelson said the increase ensures the statewide valuation of agricultural land for tax purposes will have "doubled since 2009 as our estimates suggest nearly a 120 percent increase in valuation since that time." "Our estimates also suggest that, due to the increase, the statewide property taxes paid by farm and ranch families on agricultural land will near $1 billion in 2015," Nelson said. Jim Jansen, research analyst with the University of NebraskaLincoln's department of agricultural economics, which conducts the Nebraska Farm Real Estate Market Developments survey annually, said
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land markets in Nebraska remained relatively steady in the last year, according to preliminary findings. Overall, the average statewide farmland value — based on actual sale prices — rose by about 5 percent, as of Feb. 1, to $3,195 per acre, Jansen said. Survey reporters across the state reported percentage gains for all the farmland classes for the period from Feb. 1, 2013, to Feb. 1, 2014. Jansen said farmland values in recent years have increased sharply. The overall increase of 25 percent in 2013 followed increases of 22 percent and 32 percent in the two previous years, leaving the 2013 allland value more than double the value in early 2010. According to USDA's Economic Research Service, national net farm
income — a key indicator of U.S. farm well-being — is forecast at $95.8 billion in 2014, down 27 percent from last year's record of $130.5 billion. The 2014 forecast would be the lowest since 2010 but would remain $8 billion above the previous 10-year average. The USDA reported that the forecast for lower net farm income and net cash income is primarily a result of the outlook for lower crop receipts and government payments. In contrast, livestock returns are forecast to be steady to slightly higher. Jansen said that, in the last year, the largest increase by land class occurred for non-tillable grazing Continued on page 13
MARKET GLANCE Livestock and Products, Weekly Average
Crops, Daily Spot Prices Year Ago 4 Wks Ago 4/4/14
Nebraska Slaughter Steer 35-65% Choice, Live Weight . . . . . . . . . . . . . . .$129.00 Nebraska Feeder Steers, Med. & Large Frame, 550-600# . . . . . . . . . . . .168.66 Med & Large Frame, 750-800 # . . . . . . . . . . . . . . .144.33 Choice Boxed Beef, 600-750# Carcass . . . . . . . . . .191.29 Western Corn Belt Base Hog Price . . . . . . . . . . . . . .80.29 Feeder Pigs, National Direct, 50#, FOB . . . . . . . . . . . .* Pork Carcass Cutout, 185#, 51-52% Lean . . . . . . . .77.30 Slaughter Lambs, Ch. & Pr.,Heavy, SD Dir. . . . . . . . .100.00 Nat. Carcass Lamb Cutout, FOB . . . . . . . . . . . . . . .290.65
149.52
150.40
221.09 222.54 177.70 204.34 233.40 323.13 105.44 128.02 * * 108.08 130.97 158.00 153.00 369.88 371.23
Wheat, No. 1, H.W. Imperial, bu . . . . . . . . . . . . . . . . .6.76 Corn, No. 2, Yellow, Omaha, bu . . . . . . . . . . . . . . . . .6.41 Soybeans, No. 1 Yellow Omaha, bu . . . . . . . . . . . . . .13.90 Grain Sorg. No. 2 Yellow, Dorchester, cwt . . . . . . . . .10.79 Oats, No. 2, Heavy Minneapolis, MN, bu. . . . . . . . . . .3.91
6.83 4.56 14.22 8.07 4.61
6.71 4.74 14.54 8.21 4.53
Hay (per ton) Alfalfa, Lrg. Sq. Bales Good to Prem., NE Neb. . . . . .245.00 Alfalfa, Lrg. Rounds, Good, Platte Valley, . . . . . . . . .227.50 Grass Hay, Lrg. Rounds, Premium, Neb., . . . . . . . . .217.50 Dried Distillers . . . . . . . . . . . . . . . . . . . . . . . . . . . . .246.50 Wet Distillers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .89.50 * No market.
162.50 210.00 127.50 127.50 107.50 107.50 235.00 235.00 67.00 68.00