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White County Ag Outlook Breakfast

September 6, 2019
Tariffs

The Purdue Extension Service of White County will be hosting the annual “Agricultural Outlook Breakfast” at the 4-H Community Building at the fairgrounds in Reynolds on Friday, September 20th at 7:30 a.m. The program is free to the public and is designed to help farmers, landowners, and agribusiness managers make better business decisions in the coming year. The program will be presented by Michael Langemeier an Agricultural Economist from Purdue and is generously being sponsored by Alliance Bank, Bank of Wolcott, Farm Credit Mid-America, Fountain Trust Company, and Lafayette Bank & Trust.

Tariffs have cast a long shadow over farm income prospects for 2019. How have these tariffs lowered U.S. farm prices? Why is the Trump administration using tariffs as a bargaining tool? How long will they last? This program will discuss each of these points. Tariffs have lowered farm product prices, meanwhile weather this spring and summer has many in the Midwest concerned about their yield this harvest. This program will discuss the latest local and national USDA yield estimates along with price prospects and potential marketing strategies for corn and soybeans.

Crop farmers have been facing weak margins since 2014. Are profit prospects for the 2019 crops going to improve? Early income prospects for the 2020 and 2021 crops will be discussed as well. Farmers have been trying to push costs per bushel lower. How much progress have they made and what are the prospects for lower input costs in 2020? How can crop farmers adjust to tighter, or even negative margins?

Acreage has been shifting toward soybeans in recent years. How will acreage shift among corn, soybeans, and wheat in 2020? What farm and agribusiness management strategies will work best in the current economic environment?

A new Farm Bill is expected soon. What are some of the prospects for that legislation? The animal industries continue to expand with lower feed prices. Does larger production means lower animal product prices and margins in 2020? Land values and cash rents experienced a slight decline in 2019. How much did they change and what might be the direction for 2020 and beyond? What will be the drivers to watch? 

This program is free to attend, however RSVP’s are appreciated by September 16th to get an accurate head count for breakfast, which will be served at 7:30 a.m. followed by the program. To RSVP, please contact the Purdue Extension Office of White County at 219-984-5115 or e-mail me at awestfal@purdue.edu.

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