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What's in Store for 2015? Farm Economics Summit Scheduled

10 November 2014, at 8:52am

US - Record yields, pork virus and drought-ravaged beef all had a major impact on markets this year. How might this affect the outlook for next year?

At this year’s Illinois Farm Economics Summit, agricultural economists from the University of Illinois’s farmdoc team will explore the farm profitability outlook and management challenges from several perspectives, including the 2015 outlook for prices, farm income prospects, long-term grain price prospects, and the new farm programs.

“Crop producers now face a variety of difficult decisions to deal with the diminished revenue outlook,” said U of I agricultural economist Scott Irwin.

“One important decision that looms large is the farm program signup. Income support from the new farm program is likely to be much more important than was expected just a few months ago so this economics summit comes at a good time to help farmers manage some of the challenges and make vital decisions.

"Much of this year’s program focuses on the new farm program options and how to decide which option is likely to work best for a particular farm operation.”

The summit is designed primarily with information that will be helpful to farm operators, farm owners, agriculture lenders, and agribusiness professionals.

Speakers from the University of Illinois farmdoc team will explore the farm profitability outlook and management challenges from several perspectives, including the direction of prices, government reports and data, estate planning, forecasting returns, crop insurance choices, and changes to farm programs.

Irwin said that the format for the meetings will be fast-paced and allow plenty of time for questions from the audience.

Sponsored by U of I Extension, the farm economics summit will be offered at five different locations during the month of December. The dates and locations are as follows:

Monday, December 15 - DeKalb, Faranda’s Banquet Center
Tuesday, December 16 – Peoria, Peoria Civic Center
Wednesday, December 17 – Springfield, Crowne Plaza
Thursday, December 18 - Mt. Vernon, Holiday Inn
Friday, December 19 – Champaign, iHotel and Conference Center

The sessions will begin at 7:45 a.m. and conclude at 1:30 p.m. The advance registration fee is $65 per person and includes lunch, refreshments, and all meeting materials.

The online pre-registration deadline is December 8. Registration at the door will be $75 per person as space permits.

Registration questions can be addressed to Nancy Simpson ([email protected]; 217-244-9687). For the complete agenda and list of speakers, click here.

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