Mykel Taylor joined the Department of Agricultural Economics as an Assistant Professor in 2011. Her research and extension programs are focused in the areas of crop marketing and farm management. She grew up on a cattle ranch in Montana and attended Montana State University majoring in Agribusiness Management. Her PhD in Economics is from North Carolina State University. Mykel has worked in extension positions at both Kansas State University and Washington State University. Some of her current research areas include measuring basis risk for commodity grains, understanding the implications of food safety and country of origin labeling on meat demand, and estimating land values for crop and pasture land in Kansas.
Leasing land for farming and ranching has become a necessity to grow and stay competitive in today’s commercial agriculture. As a result, understanding how to effectively and equitably negotiate a land lease has risen in importance for both landowners and tenants. This workshop is designed to help both landowners and producers consider the factors that affect lease rates, contract terms, and risk exposure.
Topics covered in this workshop include:
1. Explaining the differences and similarities of various leasing arrangements: crop share, fixed cash rent, flexible leases, AUM pasture leases
2. Active management of the landowner-tenant relationship through effective communication and recognition of incentives
3. Calculating an equitable lease using cost of production budgets, price and yield expectations, and other market-based information