With corn prices languishing under $4, the outlook for the agricultural economy and farm incomes in 2017 continues to be sour.
Recent farm income indicators from the ag department show a continuing downward slide, however, compared to last year, moods at the National Farm Machinery Show (NFMS) in Louisville, Ky. have improved.
“It’s amazing how much different we see the attitude today of producers,” said Alan Hoskins, president and CEO of American Farm Mortgage. “They’re more optimistic about the coming year, and I think that is a direct result of them doing a better job of looking at costs and understanding where profit potential exists, and doing a better job of marketing and putting sales on the books.
According to Hoskins, those producers are positioned to have a better 2017.
“The marketing is a huge component of the profitability cycle and the top producers will be spending much more time on their marketing,” said Hoskins.
Hoskins is bullish on commodity prices in 2017.