ARKANSAS, USA — Arkansas farmers are being impacted by a double-edged sword when it comes to inflation. Input costs are spiraling upward, but so are futures market prices in some cases, meaning the crops or livestock they produce are gaining value.
Mark Lambert, director of Commodity Activities and Economics with Arkansas Farm Bureau, told Talk Business and Politics that the state has two types of farmers – livestock and row crop. During the past year, many of the pressures that have jolted the agriculture sector have hit both, Lambert said.
He said that profits would likely take a hit as the year unfolds.
“Farmers and ranchers are faced with higher prices, resulting in a forecasted profit decrease of 4.5% year-over-year. Farm debt is outpacing farm assets, and with farmers facing additional challenges like an interest rate increase, we will likely see farm debt accumulation accelerate,” he said.
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