— Hillary Siegfried, Texas Wheat Intern
The Southwest Council of Agribusiness (SWCA) held its 3rd annual meeting in Lubbock last week to discuss important agricultural issues.
Dr. Danny Klinefelter, Texas A&M University Professor and Extension Economist, discussed the state of the agricultural economy and the outlook for producers and agribusiness. Klinefelter, a great supporter of agricultural producers, has traveled three million miles giving presentations and advice to support ag businesses around the U.S.
“Ag has a unique and positive story to tell,” mentioned Klinefelter. “Ag has also faired much better than the general economy.”
Dr. Klinefelter said that financial regulators, changes in lending practices, and farm operator’s management ability are several key forces that drive the agricultural economy.
“Whether the major problems emerge for the agricultural sector as a whole will depend primarily on four factors,” explained Klinefelter.
The four factors included are how much net farm income rebounds, what happens to land values, how soon interest rates increase, and the value of the U.S. dollar.
The SWCA meeting covered many important topics for the future of agriculture; however, the ability for the Texas Wheat Producers Association and other commodity and agricultural organizations to come together and discuss key issues and priorities is essential in protecting Texas producers.
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