The farm economy has several challenges ahead. Economists with Ag Economic Insights say tight margins are likely to continue and warn it will take some cost cutting to find profitability again.
“At this point, it’s a little unclear how much of the cost cutting is going to come out of the variable cost, the things that e get price sheets for, how much of it’s going to come out of the things that we do around the home, homesteading our family living, or machinery, or cash rents in our farmland values,” said David Widmar.
While there is likely a rocky road ahead, farmer sentiment is up. Economists with Purdue University say the Ag Economy Barometer rose 11 points last month. However, the report showed little change in how producers feel about the future prospects.
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Investigations are now ongoing following a massive explosion and fire at the Koch Foods poultry plant in Fairfield, Ohio, which claimed one life and injured at least three other workers at the plant.
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Roger McEowen with the Washburn School of Law reviews key highlights from the House Agriculture Committee’s latest farm bill proposal.
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The Action Aims to Lower Food Costs for Consumers and Strengthen the Supply Chain
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