I have been speculating that the farm economy could be heading for that rarest of occurrences: widespread prosperity. In fact, I will be in ND with a new presentation - Prosperity for Dummies: Managing success after a long layoff.
In what may be the first of confirming indicators, the Hoosier Farm Show seems pretty upbeat.
One measure of the health of the Indiana farm economy is the health of Indiana-based farm trade shows. If the health of the 28th annual Indiana Farm Equipment Show is any indication, the Hoosier farm economy is in good shape. The show opened on Tuesday at the State Fairgrounds with record numbers of exhibitors and impressive first day crowds. “We had a waiting list of exhibitors this year and; that is the first time that has ever happened,” said Dick Sherman, Show Manager. [More]All this leads me to believe that the relatively high margins we now anticipate won't last as long as we would like as farmers bid up input prices. It is happening with rents, fertilizer, and now maybe machinery.