Economic Tidbits

Agriculture & Inflation: What It Means for Producers

Nebraska Farm Bureau’s next Inside Profitability Series webinar is Wednesday, August 31, at 6:30 p.m. (CT). Inflation has reached levels not seen since the 1970s and 1980s and has affected farmers and ranchers in numerous ways. Expenses are higher for fuel, feed, fertilizer, chemicals, and other inputs. Interest rates are moving higher, increasing borrowing costs. For many operators, this is the first time in their farming/ranching careers dealing with the financial conditions seen today.

Featuring Krista Swanson, an agricultural economist and visiting research specialist with the FarmDoc team at the University of Illinois, and Don Cantrell, a producer in Custer County, the webinar will focus on strategies farmers and ranchers can consider when managing an operation in inflationary times. Swanson will discuss monitoring debt levels, interest costs, maintaining liquidity and other means to mitigate the uncertainties of inflation and rising interest rates. Cantrell will discuss his experiences farming during the 1980s farm crisis of high inflation and interest rates. He will talk about what he learned, and how those lessons can apply to today. For more information, go to: www.nefb.org/insideprofitability.  

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