Published: August 31, 202
Speakers:
- Krista Swanson, agricultural economist & visiting research specialist, University of Illinois
- Don, Cantrell, farmer from Custer County, Nebraska
- Moderator: Jay Rempe, senior economist, Nebraska Farm Bureau
Inflation in the U.S. has reached levels not seen since the 1970s and 1980s. The latest figures show an overall inflation rate of 8.5 percent over the past year. Inflation has affected farmers and ranchers in numerous ways. Expenses are higher for fuel, feed, fertilizer, chemicals, and other inputs. Interest rates are moving higher, increasing borrowing costs. For many operators, this is the first time in their farming/ranching careers in dealing with the financial conditions seen today. Managing a farm or ranch during inflationary times can bring a unique set of challenges.
Inflation and what it means for agriculture will be the focus Nebraska Farm Bureau’s next Inside Profitability Series webinar. Featuring Krista Swanson, an agricultural economist and visiting research specialist with the FarmDoc team at the University of Illinois, and Don Cantrell, a producer in Custer County Nebraska, the webinar focuses on tactics and strategies for farmers and ranchers when managing an operation in inflationary times. Swanson will discuss watching debt levels, interest costs, and other means to mitigate the financial uncertainties of inflation and rising interest rates. Cantrell will discuss his experiences farming during the 1980s farm crisis of high inflation and interest rates. He will talk about what he learned, and how those lessons can apply to today.