Agricultural economists from Purdue University will offer farmers and livestock producers some timely guidance on rapidly changing market conditions and a look ahead to the 2015 season in a free webinar set for 9 a.m. Friday (Oct. 31).
Jim Mintert, director of the Center for Commercial Agriculture and professor of agricultural economics, said the webinar, called "The Changing Business Climate for Agriculture: The Outlook for 2015," is the first in a series of informational programs this fall and winter designed to help participants better understand fluctuations in commodity prices, land values and rental rates. There will also be discussion of what moves the market, along with sound financial and farm management strategies to cope with a complex and challenging economic environment.
Mintert said many crop farmers have never experienced such a turbulent season, when a record crop pushed prices sharply lower this summer and fall resulting in a sharp squeeze in crop farm operating margins.
"During the webinar we'll discuss prospects for recovery in the crop sector and outline some key strategies crop producers should follow to be successful in this challenging economic environment," Mintert said.
The news is much better for livestock and poultry producers. The combination of dramatically lower feed prices and record high prices has produced exceptionally strong margins for most producers, Mintert said.
"The big questions for livestock and poultry producers are how long these positive trends will continue and what should producers do to solidify their financial position."
Webinar panelists are Mintert; Chris Hurt, professor of agricultural economics; Michael Boehlje, distinguished professor of agricultural economics; and Michael Langemeier, associate director of the Center for Commercial Agriculture.
Registration in advance is required. For more information, visit the Center for Commercial Agriculture website at http://www.agecon.purdue.edu/commercialag/index.html.