Ag. Workshop to Detail Cost Cutting in Face of Lower Commodity Prices

Purdue Extension LogoIt may be winter, but Purdue Extension in Starke and Pulaski Counties is encouraging local farmers to prepare for changes in the price of commodities.

A workshop is being held on January 19th at the Bass Lake Community Center that hopes to detail how farmers may avoid financial difficulty over the next five years.

Purdue Extension Agricultural Educator Phil Woolery says commodity prices have fallen, recently – which is putting downward pressure on cash rent prices. The presentation hopes to help farmers do one thing in particular.

“Evaluate how it affects different situations so they can make decisions on farming a certain property or not,” says Woolery.

Because certain contract arrangements have already been signed, the tools developed by Purdue University are designed to help farmers calculate their yields with falling prices in the face of a previous time’s cash rent prices.

The workshop is also bringing local lenders to discuss what they look for in analyzing potential lending prospects.

Woolery says the presentation will also cover topics such as reducing costs on seed and fertilizer. That could have an effect on farmer’s bottom line.

“We’re going to be talking about different ways to cut those kinds of costs without cutting your yields,” says Woolery.

Purdue Extension requests that participants register ahead of time by calling their offices.