Jay Parsons

Starting 2021 on the right foot financially

February 11, 2021

John P. Hewlett, Jeff Tranel, and Jay Parsons

This can be a busy time of year for many farmers and ranchers. Calving season may be in full swing, feeding and other chores are carried out in cold weather, and tax returns are completed and filed. In addition, there are a plethora of meetings, conferences and other educational opportunities.

Fitting annual forages in a crop rotation

September 30, 2020

Jay Parsons and John P. Hewlett

According to the National Agricultural Statistics Service (NASS), approximately 60 million acres of forage are harvested annually in the U.S. Lower commodity grain and oilseed prices coupled with high pasture rental rates and/or difficulty finding range and pasture to rent, have led some crop producers to consider ways to incorporate more annual forages into their crop rotations.

Defining your ag legacy

January 31, 2020

Jay Parsons and John P. Hewlett

Ag legacy is the summation of a lifetime of achievement and the context in which that lifetime will be remembered. A legacy is not just money but a reputation, what was accomplished and the difference a person makes in the world as they pass through – their mark on the universe.

Online courses for improved financial management

October 1, 2018

Jay Parsons and John P. Hewlett

Today’s rural families operate in a time of increasing financial uncertainty. Current financial conditions are unlike any previously experienced.

Forage insurance: Which option fits your operation?

April 27, 2018

Jay Parsons and John P. Hewlett

One of the primary strategies for managing risk is transferring risk outside the farm or ranch through insurance products or other mechanisms.

Whole-farm and forage risk management

February 27, 2018

Jay Parsons and John P. Hewlett

Whole Farm Revenue Protection (WFRP) insurance was created by the Agricultural Act of 2014. It has been available for purchase since the 2015 crop year. Since then, each year has brought updates to the program.

Managing risks: A focus on decision quality

November 29, 2017

Jay Parsons and John P. Hewlett

Risk management is a necessary but sometimes frustrating activity. Good risk management decisions can result in bad outcomes due to the uncertainty involved.

Evaluating risk management strategies

September 28, 2017

John P. Hewlett and Jay Parsons

When it comes to risk management strategies, there are four basic actions a manager can take: (1) avoid the risk, (2) transfer the risk, (3) control the risk or (4) accept the risk.