WEST DES MOINES, IOWA (January 15, 2024) — The potential for record-high corn supplies and stubbornly-high input costs are creating tight margins for Iowa farmers. Projections show cattle feeders could see reduced profits compared to 2023, and forecasted returns for hog producers suggest more losses ahead.
As a year of challenges looms ahead, Iowa Farm Bureau is holding meetings across the state in the following locations to help farmers navigate these uncertainties:
- Wednesday, February 7, 9-11:30AM at Northeast Iowa Community College’s dairy center
- Wednesday, February 7, 5-7:30PM at the Lee County Farm Bureau office in Donnellson
- Tuesday, February 13, 9-11:30AM at the Scott County Farm Bureau office in Eldridge
- Tuesday, February 13, 2-4:30PM at the Cedar County Fairgrounds in Tipton
- Thursday, February 22,10AM-12:30PM at the Moville Community Center
Zach Brummer, Iowa Farm Bureau’s farmer education program manager, and economist Dr Christopher Pudenz, will talk with attendees about the impact of projected record-ending corn stocks on domestic corn prices, increased South American soy production, an update on segments of the cattle market, and what lies ahead for pork producers. Amid unstable markets, high costs of machinery, borrowing and inputs, the duo will share strategies to protect risk.
“While it can appear doom and gloom, there is also opportunity ahead,” says Brummer. “Fertilizer prices are moderating from highs in 2022, and Mexico remains a promising, strong trade partner for US corn and pork exports.”
Experts from Iowa State University will also provide short presentations on managing farm stress and cyber security.
Iowa Farm Bureau members may register at no cost for the Ag Market Outlook meetings at iowafarmbureau.com/marketoutlook. Non-members can contact the hosting county Farm Bureau to register.
