Developing a Farm Income Projection Model for Illinois farms to determine advantages of the Agricultural Act of 2014's farm safety net options

Kelly, Patrick

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https://hdl.handle.net/2142/72814 Copy

Description

Title

Developing a Farm Income Projection Model for Illinois farms to determine advantages of the Agricultural Act of 2014's farm safety net options

Author(s)

Kelly, Patrick

Issue Date

2015-01-21

Director of Research (if dissertation) or Advisor (if thesis)

Schnitkey, Gary

Department of Study

Agr & Consumer Economics

Discipline

Agricultural & Applied Econ

Degree Granting Institution

University of Illinois at Urbana-Champaign

Degree Name

M.S.

Degree Level

Thesis

Keyword(s)

• Farm Income
• Excel Projection Model
• Agricultural Act of 2014
• Farm Bill
• Farm Safety Net
• Financial Statements

Abstract

The Farm Income Projection Model is intended to model the effects of the new provisions in the Agricultural Act of 2014, particularly in the farm safety net area, on the financial statements of case farms located throughout Illinois. The Farm Income Projection Model is detailed, and can be made to accurately represent a specific size grain farm located in all counties in the state of Illinois. The model produces financial statements for a five year projection. These statements include budgets, balance sheets, income statements, cash flows, and capital repayment capacities. The results from the model are dependent on the several inputs including farm size, location, crops planted, base acres, expense adjustments, yields, prices, crop insurance products, and Farm Bill policies. Specific case grain farms were selected to include a variety of locations, sizes, and rotations that are run with price scenarios and compare the different Agricultural Act of 2014 choices.

Graduation Semester

2014-12

Permalink

http://hdl.handle.net/2142/72814

Copyright and License Information

Copyright 2014 Patrick Kelly

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