The 2024 Farm Science Review offered a massive hub for all things farm and food related.
Ohio State University hosted a series of panel discussions this year. They brought in experts from the university to cover topics such as extreme weather resilience, climate smart solutions and farm margins.
Experts Barry Ward and Dr. Seungki Lee spoke with moderator Ian Sheldon about a number of concerns in the agricultural sector.
Input costs, profitability and competition overseas were big topics for discussion at the Tuesday panel.
Ward is the leader of production business management for OSU Extension. He said increased costs for farmland use are also a stressor in the Ohio ag sector.
"I think the younger farmers are going to be more at risk because they probably have a higher percentage of their total land based that's cash rented. So they're going to feel the pain more," he said.
They also highlighted the current stalemate in Washington on the Farm Bill reauthorization.
Ward said there is a lot of political back and forth on the Farm Bill.
“We are probably faced with, in this election year, no real progress until after the election," Ward said. "And I think even then, it's going to be contentious because either side has some significant priorities that the other side is not real crazy about.”
Sheldon is the Andersons Chair in Agricultural Marketing, Trade and Policy. He also brought attention to comments from the Republican side of the Senate Appropriations Committee in regards to the Farm Bill.
"Lawmakers are considering attaching a package of farm income support to a farm bill extension that could be enacted at the end of the year," he said. "So this looks like a one-off set of payments to maybe ease the margin squeeze. But obviously, this is very dependent on being able to get this through both the Senate and the House side in Washington."
Audience Engagement
Audience members were encouraged to voice their own fears and trials. Questions regarding inflation, and supply company consolidations were brought to the attention of the panel.
Lee is an agricultural economist. He said having farmers voice their own experiences is a better way to understand the struggles that they are facing.
"When it comes to the farm sentiment, we might be better at discussing to the audience because what you're feeling, I think, is the most precise sentiment," he said.
With so much change and farm stressors increasing, Ward said it is going to be difficult for Ohio farmers to balance a number of obstacles going forward.
“The decrease in crop price is really impacting farmers margins, profitability outlook. You know, it's a negative picture generally for farmers," he said. "And on top of it is the drought situation that we're facing here in Ohio. So it's going to be a challenge.”
While there’s lots of uncertainty and challenges ahead, Ward says he is still optimistic.
"The financial health going into this year was reasonably good," he said. "So their net worth and equity is certainly helpful preparing for this."
