Emerging Issues in Agriculture
Agricultural Economics
Macroeconomic Conditions
Weak overall economyaffecting demand for most allagcommodities – especially hitting dairy and livestock producers. Equine sales are also down drastically. Domestic and international demand.UnemploymentImpacts on demand, off-farm job prospects
Macroeconomic Conditions
Continued focuson business planning, marketing education, new business developmentMoneywise- The MONEYWI$E financial management website is a cross disciplinary approach to assist extension clientele in decision-making in today’s economy.Annie’s Project– Annie’s Project is a risk management education program designed specifically for farmwomen.
Economics of Production Agriculture
Economics of Production Agriculture
Rising input costs– still an issue, although is has improved. Especially Potash. Greatly affecting production costs on hay, which is hurting cow-calf operators as well.Price volatility– We just aren’t used to dealing with this much volatility. We need to work with farmers on marketing plans incorporating price risk management - futures markets and livestock and crop price risk insurance.New Crops and Diversification– Horticulture,switchgrass, organic grains require new cost and market assessments.
Economics of Production Agriculture – Rising Input Costs
Optimal fertilization rates for corn (possibly wheat):Significant fluctuations in both commodity and N prices have occurred in the last three years making this issue more relevant than in the past.Labor– Changing H2A program will boost labor costs even more, especially impacting labor intensive enterprises like tobacco, horticulture.
Economics of Production Agriculture – Price Volatility
Cow-calf profitability– Cow-calf operators are in about their 3rdtough year. Long run planning needed, such as cattle numbers and strategies to survive a brutal phase of the cattle cycle.Grain price volatility– Continuing impact of ethanol, uncertainty of support programs, political environment, emerging renewable fuels.Tobacco contract reductions– Structural changes in industry
Economics of Production Agriculture – New Crops and Diversification
Emerging market channels– Auctions, direct markets, thin markets where prices for specialty products are hard to discover. Grapes, nursery, organic, and other high-value attributes especially volatile.
Economics of Production Agriculture – New Crops and Diversification
Sustainability– Economics of alternative production systems for livestock, dairy, grain, horticultural crops.Animal WelfareEnvironmental Stewardship MandatesLegislative and market mandates for sustainabilityImplementation challenges for producers
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