Kate chats about land leasing issues with John Hewlett, a farm and ranch management extension specialist at the University of Wyoming and Shannon Neibergs, who directs the Western Risk Management Education Center. Both John and Shannon’s work on leasing incorporates risk and risk management. The group also discusses cover crops in leases, and available drought and wildfire resources.
1:10 How do leasing topics play a part in your jobs and what lease-related projects are you working on lately?
3:20 Six factors to consider when calculating a contributions-based lease rate
4:00 What to think about when adding cover crops into lease rates
8:20 Is it important to have an attorney review a lease?
17:00 How to calculate shares when share leasing?
20:30 How to calculate hay ground rates?
23:10 How to treat the contribution of fertilizer in a lease?
25:30 Tools to calculate costs of running machinery
28:45 Drought and wildfire resources
Resources mentioned in the podcast:
- RightRisk.org: Many of the tools mentioned by John Hewlett, including the machine cost calculator
- Aglease101.org: Land leasing tools developed by Extension professionals in the midwest
- Idaho enterprise budgets: http://www.uidaho.edu/cals/idaho-agbiz/
- WSU alfalfa budget using custom harvest costs: https://pubs.wsu.edu/ItemDetail.aspx?ProductID=15666&SeriesCode=&CategoryID=153&Keyword=
More helpful stuff:
Leasing Resources for Montana: msuextension.org/aglease
Drought and wildfire:
- FSA drought disaster program fact sheet: https://www.fsa.usda.gov/programs-and-services/disaster-assistance-program/
- Living with Wildfire in Wyoming: http://www.wyoextension.org/agpubs/pubs/BB-2.pdf
- Multiple Impacts – Multiple Strategies How WY Cattle Producers Survive Drought: http://www.wyoextension.org/publications/Search_Details.php?pubid=242&pub=B-1178
- Tax Implications of Selected Drought Management Strategies: http://www.wyoextension.org/publications/Search_Details.php?pubid=881&pub=B-1195
- Recognizing and Responding to Drought on Rangelands: http://www.wyoextension.org/publications/Search_Details.php?pubid=941&pub=MP-111.09
- Managing your ranch during drought: Implications from long and short-run analyses: http://www.wyoextension.org/publications/Search_Details.php?pubid=1321&pub=B-1205
- Two Common Drought Management Strategies and Some Considerations for Wyoming Cattle Producers: http://www.wyoextension.org/publications/Search_Details.php?pubid=1701&pub=B-1218
- Considerations for Preparing a Drought Management Plan for Livestock Producers: http://www.wyoextension.org/publications/Search_Details.php?pubid=1721&pub=B-1220
- Comparison of Alternative Cattle Management Strategies Under Long-Term Drought: http://www.wyoextension.org/publications/Search_Details.php?pubid=1781&pub=B-1219
(Intro and outro music by Trevor Sensor; photo credit Kate Fuller)