Are things looking up in 2017? The AgEconMT crew chats with Dr. George Haynes, a Professor and Extension specialist in the Department of Agricultural Economics and Economics, about the northern Great Plains agricultural markets in 2017. Here are some of the highlights:
Minute 2:40: Current challenges in Montana ag operations—what do we do when revenues are 50% less than the previous year?
Minute 4:50: Short term credit issues important and a growing concern for sustaining operations in current market downturn. Where has debt been allocated in the past several years?
Minute 6:30: What characteristics of producers are most successful in taking on the burdens of the market downturn?
Minute 9:00: What types of producers are at most risk in these markets?
Minute 11:35: What are the impacts for rural communities?
Minute 13:20: What have been the saving grace for the eastern MT and western ND communities in the past 4-5 years and do we see this as maintaining their relevance and existence?
Minute 15:10: What can producers do to remain profitable and sustainable in these uncertain times?
Minute 17:00: Who are the important trade partners for wheat producers?
Minute 17:45: What are critical demand-side factors for beef?
Minute 19:00: How might production of higher quality offset issues with low wheat prices?
Minute 20:00: What are the key aspects for assessing enterprise profitability? How do living expense considerations play a role in affecting sustainability?
Minute 22:00: What about other, smaller food producers and markets? What’s going on in those markets and are they facing similar issues as larger commodity markets?
Minute 23:40: How do “local food markets” doing and how have the small operations been able to gain momentum to be recognized for USDA programs and benefits?
Minute 25:00: How many smaller operations can communities sustain?
Minute 27:00: Recent changes and opportunities for the organic market.
Minute 28:30: What are the advantages of the interaction between organic and local.
Have any follow up questions for George or Anton? Didn’t hear something that you know is a big issue in the northern Great Plains’ seed potato sector? Let us know.
(Intro and outro music by Trevor Sensor)