During a recent webinar, the staff at Agricultural Economic Insights looked into the current economic conditions in agriculture and what might be coming in 2024. Brent Gloy, co-founder of AEI, says the last three years have seen an above-average farm economy.
During a recent webinar, the staff at Agricultural Economic Insights looked into the current economic conditions in agriculture and what might be coming in 2024. Brent Gloy, co-founder of AEI, says the last three years have seen an above-average farm economy.
Matt Erickson, agricultural policy adviser with Farm Credit Services of America talks about what farmers are most concerned with heading into 2023.<p><p>"Shifting gears from 2022. And pivoting to 2023. I think the number one concern that farmers have, you know, in the media, if you re going to talk to them right now, it d be production costs. And you know, if it s higher fertilizer prices, chemical prices, seed prices, anything that it takes to put that input that needs to be purchased to grow that crop, farmers are going to have concerns because prices are higher. And that also includes cash, cash, rents, as well. So all those different things, all those different production costs have increased for producers."<p><p>Erickson says that along with volatility comes some upside opportunities.<p><p>"You know, when we look at volatility, we ve got to think and remember that volatility is a two way street. You know, one a lot of times, you k