Locking in long-term interest rates should be a top priority for grain farmers in 2013, says Farm Journal economist Bob Utterback.
"If I could lock in long-term rates, that would be my first objective plan," Utterback says. "Lock in 30-year rates, get locked in, and get yourself out of that trap of interest rate variable."
On the livestock side, producers should begin mapping out a multi-year corn-buying strategy to implement beginning in the fall of 2014.
Hear Utterback talk about other inputs such as short-term interest rates, fuel and seeds in the video below: