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The Farm Economy Outlook: Preparing Your Farm for 2020

The farm economy has been in a slump for several years. How did we get here? Where will we go from here? During GrowingOn® 2020, David Widmar focuses on the key trends impacting production agriculture over the next five years and how producers can position their operations, in addition to strategies and management tips producers should be implementing in 2020 and the years ahead.

  • The ag economy remains in the recovery period as weather and trade factors slow progress back to a stable period.
  • Control the controllables. Knowing the economics of your farm makes marketing decisions less emotional. Remember your biases.
  • Working capital is the oldest risk management strategy. With farm debt levels at an all-time high and working capital at an all-time low, this is the time to think hard about your working capital levels.
  • ARC/PLC decisions are coming soon. Start putting your numbers together now to prepare for that decision. Utilize online tools and your financial team at Farm Credit Services of America for assistance.

David Widmar presented in Mitchell, SD on December 5, 2019.

 

david widmarDavid Widmar is an agricultural economist focused on agricultural trends and data-driven insights for agribusinesses and farmers. After spending most of his career at Purdue University, he co-founded Agricultural Economic Insights, LLC in 2014. 


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