The University of Nebraska-Lincoln's Center for Agricultural Profitability (CAP) plays a pivotal role in strengthening the economic foundation of Nebraska's farming and ranching communities. This initiative underscores the importance of strategic financial planning and informed decision-making for agricultural producers, extending beyond mere production capacity. By integrating diverse expertise and providing practical resources, CAP aims to secure a more prosperous future for the state's vital agricultural industry.
Cultivating Certainty: Strategic Management for Agricultural Success
Fostering Financial Acumen in Nebraska's Agricultural Sector
The prosperity of Nebraska's agricultural landscape hinges not just on fertile lands and robust harvests, but critically on the astute financial choices made by its farmers and ranchers. Recognizing this, the University of Nebraska-Lincoln (UNL) champions a collaborative spirit, uniting economists and scientists across various fields within its Institute of Agricultural and Natural Resources. This synergy is designed to empower producers with the insights needed for economically sound farm and ranch operations.
The Genesis and Purpose of the Center for Agricultural Profitability
Launched on July 1, 2021, the Center for Agricultural Profitability (CAP) within UNL's Department of Agricultural Economics was established with a clear mandate: to enhance the economic well-being of Nebraska's producers. It operates on a holistic systems approach, bridging academic knowledge with practical application. The center's core mission is to facilitate informed agricultural decision-making through dedicated applied research and comprehensive educational outreach. This includes equipping the next generation of Nebraska's farmers and ranchers with essential classroom knowledge.
Empowering Producers with Essential Analytical Resources
A cornerstone of CAP's efforts involves developing and disseminating practical instruments to aid producers in their financial assessments. A prime example is the Agricultural Budget Calculator (ABC), an advanced software solution designed for crafting detailed crop and livestock budgets. This innovative platform assists producers in generating personalized cost and revenue projections, managing cash flow, and formulating effective marketing strategies.
Accessibility and Impact of Financial Planning Tools
The ABC software, accessible online, is celebrated for its user-friendliness and compatibility across both Windows and Mac operating systems. Its intuitive design allows producers to effortlessly update their budgets annually. In a mere four years, over 1,700 registered users have leveraged ABC to develop approximately 3,800 custom crop budgets. Recent enhancements include the integration of livestock budgeting functionalities, with further developments underway to better accommodate specialized crop budgets. Beyond ABC, CAP's website serves as a rich repository of valuable resources, including annual reports on Nebraska farm real estate, farm income statistics, and custom rate analyses for both crop and livestock activities.
Broadening Outreach: Educational Programs and Engagement
CAP actively engages with the agricultural community through weekly public webinars addressing topical issues. These sessions attract a significant audience, with over 2,800 live attendees and 18,000 recorded views annually. The center's website also hosts a suite of online courses, covering crucial areas such as financial record-keeping, training for the Nebraska Department of Agriculture's NextGen participants on beginning farmer tax credits, and borrower training for the USDA Farm Service Agency.
Supporting Generational Transitions in Agriculture
Farm succession and transition planning represent a critical focus area for CAP. In the past year, the center's programs in this domain engaged 678 participants across 19 activities throughout Nebraska. These initiatives encompass multi-day conferences like "Returning to the Farm (or Ranch)" and various programs tailored for aspiring farmers and ranchers, often delivered in partnership with state organizations. The CAP Nebraska Extension team's extensive programming in 2024 reached over 9,000 participants through 240 distinct events. Additionally, CAP team members contribute regularly to articles and podcasts, disseminated to an email subscriber base exceeding 5,700.
Expanding Horizons: Research, Education, and Community Connection
Still in its formative stages, CAP is continually expanding, notably with the recent addition of two research analysts to bolster its research capabilities and mentor graduate students pursuing relevant agricultural research topics. The center has also successfully developed and piloted a 12-module Farm and Agribusiness Curriculum for high school students, now available to agricultural educators statewide. To support this curriculum, CAP offers comprehensive in-service training for teachers, collaborating with the Department of Agricultural Leadership, Education, and Communication. Undergraduate students benefit from two to four paid internships annually, providing invaluable hands-on experience with faculty and staff on Nebraska's farm and ranch research and extension projects.
Engaging with Nebraska's Agricultural Community
CAP extends an open invitation to all interested parties to participate in its diverse offerings, whether through live in-person or online events, email subscriptions, articles, recorded presentations, or podcasts. Visitors attending Husker Harvest Days are particularly encouraged to visit the CAP booth in the Nebraska Extension building, where direct engagement and valuable interactions with the state's agricultural community are eagerly welcomed.
