The Purdue Extension Service of Vermillion County will host “Agricultural Outlook 2014,” at 8:15 a.m. Nov. 22 at the Vermillion County Fairgrounds, Cayuga. The free program is designed to help farmers, land owners, input suppliers and those interested in agriculture make better business decisions in the coming year. The program will be presented by Corinne Alexander, Purdue University agricultural economist.
Strategies for marketing this year’s crops will also be covered and are different for corn and soybeans. Farmers and agribusiness managers need to be thinking about what to plant in 2014. Purdue has developed its first estimates of costs for 2014 crops and expected returns for each crop. There are some surprises. Livestock producers’ income prospects turn up sharply with lower feed costs. The animal sector is ready to start expansion.
How big will that expansion be and what species are gearing up the most? One of the most important questions for 2014 is, “What will happen to land values and cash rents?” Will higher yields this fall offset lower prices and provide more farm income or less? The level of income this year can be an influence on land values and cash rents for 2014, but expected returns for 2014 crop production and interest rates may be more important. Land values will also be affected by the long-term outlook. For this reason, expected returns during the next three years will also be provided. Government policy could also impact the overall support for the agricultural sector in coming years so a discussion of the Farm Bill prospects will be included.
RSVP is required by contacting the Vermillion County Extension office at 765-492-5330 by Nov. 19.