Home 5 Ag Stories Economist says now is the best time to be in Ag

Economist says now is the best time to be in Ag

by Ben Nuelle

One economist says it’s the best time ever to be involved in Agriculture and not just the United States but the world.

Dr. Lowell Catlett is an economist and former professor at New Mexico State University.

He was the keynote speaker Wednesday afternoon at the 2017 Iowa Pork Congress.

“Guess I really want to give people a sense of optimism that we are really in a unique position historically to be in production agriculture or indeed in any kind of agriculture. We’ve never had a period in history where we have had the world rise out of poverty into the middle class so the world has money, a significant amount of money. The number one thing they want to do is change their diets to animal-sourced proteins,” Catlett says.

He says we’re seeing historic exports of pork, beef, and poultry worldwide because more countries have money.

“I’m old enough to say remember when they didn’t have money, well now they do and they want to buy those things. They are going to be intensive animal operations by the most part so they are going to be based in the Midwest. That means it’s a good time to be in the corn and soybean business too because you got to feed those animals.”

Most farmers are worried about low commodity prices these days. Catlett says no one knows better how to manage thin margins than farmers.

Iowa Pork Congress continues Thursday at the Iowa Events Center in Des Moines.

 

 

 

 

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