Farm Futures Forecasts Looks at Optimism for 2024
Tim Hammerich
News Reporter
Farm Futures recently released its 2024 planting outlook survey results. Looking ahead to next year, Jacquie Holland says farmers seem to be cautiously optimistic despite challenges
Holland… “We've seen a lot of those inflationary pressures ease over the past year, and as we as farmers know, your revenues are always gonna fall before your costs do. So, I think there is a lot more hesitancy this year to really forecast out future profits just because farmers are looking at an environment where revenues might be a little lower, but the costs are still high. So, squeezed a little bit on both ends of the pocketbook is really where a lot of that sentiment stems from.”
Farmers in the survey appear to be keeping similar marketing strategies going into next year, and Holland says that’s a little surprising.
Holland… “Yes, that was something that surprised me. As I just talked about the changing market conditions that we're running into, especially if we see a big corn crop this fall, farmers don't seem super worried about that right now. They all have benefited from really good harvest prices over the last few years, and they're still seeing strong cash prices headed into harvest, so I don't think there was a lot of incentive for them to change what they're doing differently.”
Jacquie Holland of Farm Futures.
