The University of Missouri's Food and Agricultural Policy Research Institute (FAPRI-MU) will host the annual Abner W. Womack Missouri Agriculture Outlook Conference April 12 at MU Bradford Research Farm near Columbia.
Each spring, FAPRI-MU uses this public forum to unveil its baseline outlooks for agricultural production, prices and consumption for the next nine years.
"Farm income in 2023 is expected to decline from 2022 levels but remain above the 10-year average," said Ben Brown, senior research associate for FAPRI-MU. "Grain and oilseed prices are expected to soften on better yields increasing production in 2023 with more than a slight recovery in demand."
Net farm income indicated a strong year for farmers in 2022, but producer anxiety accompanied historically strong income levels. Input prices for row crops increased sharply in the spring of 2022, which raised total operating expenses. To explain the impacts of these factors, FAPRI-MU economist Bob Maltsbarger will provide an outlook for U.S. and Missouri farm income.
Scott Brown, associate extension professor and interim director of the MU Rural and Farm Finance Policy Analysis Center, will discuss how U.S. beef consumption, for the first time since 2015, is expected to decline this year. FAPRI-MU economist Ben Brown will outline work by University of Missouri researchers on temperature and precipitation stress on the transportation system and its effect on corn and soybean basis.
In addition to livestock and crop outlooks, Robert Myers, director of the MU Center for Regenerative Agriculture, will discuss climate-smart commodities in Missouri and how conservation practices affect crop insurance claims. MU agricultural economist Ray Massey will provide insight into how leases and other farm management practices deter adoption of conservation practices.
Sarah Sellars of the University of Illinois and Joe Outlaw of Texas A&M University will examine financial performance of conservation practices at the farm level and outline the risks to producers, lenders and industry.
To offer a global perspective for Womack attendees, Ukrainian scholar and consultant Svitlana Synkovska will explore how Russia's war in Ukraine has affected agricultural production in the country and how Ukrainian producers have adapted.
There will be a barbecue lunch and stories from FAPRI-MU founder Abner Womack.
Register for this free event at mizzou.us/WomackConference.
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