Success StoryStrategies to Mitigate the Farm Financial Crisis for Grain Growers in Northern Kentucky



Strategies to Mitigate the Farm Financial Crisis for Grain Growers in Northern Kentucky

Author: Michelle Simon

Planning Unit: Campbell County CES

Major Program: Grain Crops

Plan of Work: Improving Economics & Sustainability of Agriculture & Farm Management

Outcome: Initial Outcome

Over the period of the last ten years grain production in Kentucky has been volatile; farmer’s experienced record market highs and many new faces took up grain production while other enterprises expanded and invested into more land or upgraded equipment. The last two years of downturn have significantly affected farmers’ profit margins.  Northern Kentucky has a small number of grain producers; many of which entered when the market was in an upturn and economically profitable but have since dealt with blows of poor commodity prices while attempting to make farm and equipment payments.  In response to this farm financial crisis, northern Kentucky area ANR agents from Kenton, Boone, Campbell and Grant counties collaborated with UK specialists and the Farm Service Agency to work directly with grain farmers to aid in assistance by educating growers on management techniques to increase yields and making sound business purchases. 

The 2020 Northern Kentucky Grain Crops Update was held on Maple Lawn Farm in Kenton County. Boone County ANR Agent organized and discussed the topics with the specialists to present the timely and relevant information to participants. The emphasis of the day was the pros and cons of irrigation equipment and guided discussions regarding nitrogen applications to get the most crop growth varying based on times of applications presented by Dr. Chad Lee. Jordan Shockley presented on farm financial decisions and taught how to calculate partial budgets when determining business purchases. 

As a followup to the program agents contacted each attendee to rank the different topics and methods of presentation.  All of the topics and presenters were rated highly.  One attendee when asked exclaimed, “This was the best Extension program I’ve attended in 20 years.” A phone survey was completed closer to planting season for the farmers to ascertain the adaptability of the practices demonstrated at the update.  It was determined that 100% of the farmers contacted had already implemented one or two of the practices discussed at the update.   One producer indicated that, “If we followed Jordan’s recommendations and followed the decision tool- none of us would have cab tractors with AC."  Northern Kentucky agents intend to reconnect with participating farmers after harvest to determine if any additional increase in yields was apparent from their implementation of practicum covered during the update.  









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