Ag outlook meetings give insight to what’s in store for 2010

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Farmers, land owners, lenders and agribusiness managers are invited to attend a Purdue Agriculture Outlook Update meeting in one of 41 counties on various dates from September through December.

“The outlook meetings are designed to preview the economic situation for agriculture in 2010,” said Chris Hurt, Purdue University agriculture economics professor.

“The intent is to help inform managers so they can make better business decisions.”

The recession has definitely reduced the demand for agricultural products and led to lower farm and agribusiness incomes, Hurt said.

The ag economist will address the recession, recovery strength and impact on the agricultural sector.

“Many are asking whether this is a temporary setback or whether a longer-term downward adjustment may be coming,” Hurt said. “In the past three years, both crop prices and costs boomed, but lower crop prices today are not being fully offset by lower costs of inputs. This means grain producers are facing much tighter margins."

The outlook for land prices and cash rents will also be provided. Purdue’s Land Values Survey indicated that farmland dropped by 2 percent in 2009, after many years moving higher. In Indiana, farmland represents more than 80 percent of Indiana’s agricultural assets, so the direction of prices will greatly influence the financial well-being of the sector.

In addition, Hurt will discuss the outlook for animal agriculture, which has experienced extreme losses during the last year.

Ag Outlook meetings are currently scheduled to be presented in counties throughout the state including: Bartholomew, Clark, Clinton, Crawford, Daviess, Dearborn, Decatur, DeKalb, Fulton, Greene, Hancock, Harrison, Hendricks, Howard, Jasper, Jennings, Johnson, Knox, Lawrence, Madison, Marshall, Newton, Orange, Owen, Parke, Posey, Pulaski, Rush, Scott, Starke, Sullivan, Tipton, Union, Vermillion, Wabash, Vermillion, Wabash, Warrick, Washington, Wayne, Wells and White.

Other county meetings could be added.

For additional information, contact a local Purdue Extension office or call Purdue’s toll-free Extension hotline, 1-800-EXT-INFO (398-4636).

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