EasternIowaFarmer_Fall2022

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THE COST OF FARMING Farmer sentiment improves, but producers still concerned about rising costs, inflation Farmer sentiment improved in August as the Purdue-CME Group Ag Economy Barometer index rose 14 points above its July reading to 117. The rise in the overall measure of agricultural producer sentiment was driven by increases in both the Index of Current Conditions, which rose 9 points in August to 118 and the Index of Future Expectations, which climbed 16 points in August to 116. Producers were less worried about their farm’s financial situation than in July, although they remain concerned about a possible cost/price squeeze. When asked about their biggest concerns for the next year, over half (53%) of respondents chose higher input costs. Other concerns included rising interest rates, input availability, and lower output prices chosen by 14, 12 and 11 percent of respondents, respectively. Despite August’s improvement in sentiment, all three indices remain well below year ago levels. The Purdue University-CME Group Ag Economy Barometer sentiment index is calculated each month from 400 U.S. agricultural producers’ responses to a telephone survey. James Mintert and Michael Langemeier, Purdue Center for Commercial Agriculture Prices are softening some, but should still be decent next year, Hart said. Looking forward to 2023 across the categories, farmers are going to face higher production costs, particularly in categories that can move quickly, like fertilizer. Some will move up more slowly, like land, seed, machinery and repair costs. Interest rates are creeping up, too. “You may be 2% higher on an interest rate than you were a year ago,” Lasack said. “Higher-priced fertilizer and input costs mean you are borrowing more on an operating line, which means you are going to pay more interest, which affects the bottom line as well.” Rates in August were just a little higher than they were at pre-pandemic levels. “It’s not terrible, but when you’re talking input costs that are twice as much what they were at that time, that’s real money,” Lasack said. One area that will see some movement will likely be cash rents, said Greg Bopes, assistant vice president and assistant trust officer and farm manager for Ohnward Bancshares, Inc. “We didn’t see a lot in that area in 2022. I would anticipate to see an increase in 2023 based on land values,” he said. The average acre of Iowa farmland increased nearly 30% last year, according to the Iowa State University Land Value Survey, released late in 2021. Auctions in Eastern Iowa this year have been bringing in record prices per acre, in the $15,000 and above range. MOVING OR DOWNSIZING? WE CAN HELP! Now Offering Relocation Services • Residential or Commercial • Insured and Professional • Serving the Lower 48 States • Large or Small Moves • Home Staging • Competitive Pricing Contact us today 563-652-0661 “We Sell it all!” Real Estate, Consignments, Livestock, Estates – our full service Auction Company is available for you. Visit our website for more info: www.schuellerauctionco.com 66 EASTERN IOWA FARMER | FALL 2022 eifarmer.com
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THE The Eastern Iowa Fall 2022 Farm
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TODD HUSMANN Channel Seedsman Cente
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No matter where you are, you can...
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The Eastern Iowa Farmer® DIRECTORY
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THE Farmer The Eastern Iowa Fall 20
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4-H The Equation Extension summer c
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EASTERN IOWA FARMER PHOTO / JACKIE
Page 16 and 17: 4-H EQUATION as well as pathways to
Page 18 and 19: Trouble out in the field? WE’RE J
Page 20 and 21: FOR THE BIRDS swaps. A spike in bir
Page 22 and 23: FOR THE BIRDS “Contact, including
Page 24 and 25: FOR THE BIRDS About Avian Flu Avian
Page 26 and 27: HAVE YOU CHECKED YOUR SOIL FERTILIT
Page 28 and 29: BY JENNA STEVENS Ag in the Classroo
Page 30 and 31: For Such a Time as This... Esther 4
Page 32 and 33: BUSINESS IN BLOOM DELWOOD FLOWERS C
Page 34 and 35: PLANT More PREDICTABILITY Pivot Bio
Page 36 and 37: USDA To be eligible for FSCSC, the
Page 38 and 39: Meet our team, left to right: Travi
Page 40 and 41: THE COST OF FARMING Oh, how things
Page 42 and 43: THE COST OF FARMING “My rough mat
Page 44 and 45: THE COST OF FARMING Jake Lammers Te
Page 46 and 47: Lending as it should be! FOR THE NE
Page 48 and 49: THE COST OF FARMING “I went a mon
Page 50 and 51: THE COST OF FARMING White Front alr
Page 52 and 53: THE COST OF FARMING Kaleb Marshall
Page 54 and 55: THE COST OF FARMING Here for your w
Page 56 and 57: FOUNDED IN FAITH FORGED IN AMERICA
Page 58 and 59: THE COST OF FARMING Balancing Act N
Page 61 and 62: THE COST OF FARMING company founded
Page 63 and 64: THE COST OF FARMING “There’s al
Page 65: THE COST OF FARMING Joel Lasack Gre
Page 69 and 70: 76 Years AND STILL GOING STRONG! Pi
Page 71 and 72: We are Hiring! Come join our dynami
Page 73 and 74: We live here. We work here. We play
Page 75 and 76: Inflation Reduction Act promotes cl
Page 77 and 78: DAVE RIVER CONSTRUCTION, INC. Maquo
Page 79 and 80: Farming is Your Tradition. Providin
Page 82 and 83: Farm life can be ‘a piece of heav
Page 84 and 85: 407 E. Platt, Maquoketa, Iowa 563-6
Page 86 and 87: THE BUZZ EASTERN IOWA FARMER PHOTOS
Page 88 and 89: THE BUZZ (Left) Chris and Ray Johns
Page 90 and 91: THE BUZZ Soybeans and pollination M
Page 92 and 93: it takes a team... meet ours Energy
Page 94 and 95: FFA KID in case there is not enough
Page 96 and 97: QUALITY SOLUTIONS. QUALITY SERVICE.
Page 98 and 99: OUR LIBERTIES WE PRIZE AND OUR RIGH
Page 100 and 101: Swanton Ag Service Goose Lake Don S
Page 102 and 103: COUNTRY COOKING self-rising product
Page 104 and 105: COUNTRY COOKING Nashville Cornmeal
Page 106 and 107: OVER 1200 PARTS TRACTORS! ANY COLOR
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Page 110 and 111: Ag Bytes Lisa; son, Clayton; and da
Page 112 and 113: Ag Bytes Alejandro Plastina, Iowa S
Page 114 and 115: Ag Bytes on something, and that som
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Ag Bytes Two water quality partners
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Ag Bytes fields and urban storm wat
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Ag Bytes animal species, including
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1. Lifelong farmer Roy Schnoor, 88,
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1 1. Anna Selman and Ellie Selman h
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1. Ben Selman and daughter Anna Sel
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1. Left to right: Mary Jo Felderman
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“The entire Peoples Company team
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We are with you every step of the w
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EasternIowaFarmer_Fall2022

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