At the National Farm Machinery Show in Louisville, Kentucky, Alan Hoskins, president of American Farm Mortgage, say moods are pretty optimistic despite low commodity prices.
“[People] are more attuned to what they need to be focused on today, and I would say that has translated into them being very realistic about what they need to be looking at this year,” he said on AgDay.
As a banker, Hoskins has seen more of his clients looking for opportunities because of current market conditions.
“They’re doing a very good job of researching before they make a decision,” he said.
Farmers and market analysts are looking to see more of the same in commodity prices in 2018 as they did in 2017, not much of an improvement. Hoskins suggests knowing your breakeven levels and tie your marketing plan into locking in opportunities.
It’s also important to keep the doors of communication open with your landlord to lay a solid foundation moving into the year.
“Keep having those discussions with landlords about what’s going on in the marketplace, [and] make sure they’re attuned so when it comes time to talk about rental agreements, that landlord is not surprised by what’s going on,” he said.
Watch his full comments on AgDay above.