September 2, 2009

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

WEST LAFAYETTE, Ind. - Farmers, landowners, lenders and agribusiness managers are invited to attend a Purdue Agriculture Outlook Update meeting in one of 41 counties on dates from September through December.

"The outlook meetings are designed to preview the economic situation for agriculture in 2010," said Chris Hurt, a Purdue University agricultural economics professor. "The intent is to help inform managers so they can make better business decisions."

The recession has reduced the demand for agricultural products and led to lower farm and agribusiness incomes, Hurt said. During the meetings, he 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 also will be provided. Purdue's Land Values Survey indicated that farmland dropped by 2 percent in 2009 after years of increases. In Indiana, farmland represents more than 80 percent of Indiana's agricultural assets, so the direction of prices will greatly influence the sector's financial well-being. 

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

Ag Outlook meetings are currently scheduled for the following counties: 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 at 1-888-EXT-INFO (398-4636).

Writer: Sayde Rayburn, 765-494-8402, srayburn@purdue.edu

Source: Chris Hurt, 765-494-4273, hurtc@purude.edu

Ag Communications: (765) 494-8415;
Steve Leer, sleer@purdue.edu
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