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.
During opening remarks, Rollins emphasized the strength and perseverance of the agricultural community, while teasing that a new policy announcement is expected later this week.
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New guidance supports transparency, consumer trust, and American ranchers
RealAg Radio host Shaun Haney explains how conflict in the Middle East is affecting spring planting as farmers navigate the evolving situation.
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NCGA Chief Economist Krista Swanson discusses the evolving role of ethanol in the current energy crisis, opportunities for expanding corn discusses the evolving role of ethanol in the current marketdemand, and the industry’s outlook moving forward.
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