Ag economy remains uncertain
There are many questions about how the farm economy will look a year from now.
University of Minnesota Extension economist Pauline Van Nurden says 2022 was filled with uncertainty.
“And I think the same holds true this year unfortunately.”
She tells Brownfield persistent market volatility along with weather unknowns clouds the financial picture for crop farmers.
Van Nurden is even more concerned about livestock producers.
“We’ve seen milk prices come down, hog prices have come down. Beef prices are still strong, but it depends if you’re buying feeder cattle to finish. And there’s just a lot of economic uncertainty related to those industries.”
She says interest rates will also factor more into farm profitability compared to the past 12 months.