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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Patrick_Kelly.pdf
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https://hdl.handle.net/2142/72814
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
Date of Ingest
2015-01-21T19:48:27Z
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.
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Patrick_Kelly.pdf