BROOKINGS, S.D. - SDSU Extension will hold Farm Economic Dialogues November 14, 2018, from 9 a.m. to noon (CST) at the SDSU Extension Regional Center in Sioux Falls (2001 E. Eighth St.). The dialogues will also be live streamed for South Dakotans interested in participating via webinar.
The dialogues will address the economic drivers of farm income via short presentations combined with ample time for audience questions.
"The past five to seven years have been a roller coaster ride for commodity markets," explained Heather Gessner, SDSU Extension Livestock Business Management Field Specialist."As producers prepare for the 2019 and 2020 crop year, we hope these dialogues provide a better understanding of the economic components, beyond the markets, that will be needed to develop accurate cash flow projections."
The discussion will cover trade and export markets as well as components contributing to cash flow creation, such as macro-economic factors of interest rate and inflation.
"We will provide an understanding of where these rates have been and where they are forecasted to be in the next year or two," said Matt Diersen, Professor & SDSU Extension Risk/Business Management Specialist.
Changes to the 2018 tax code
2018 tax code changes, specifically sections related to exchanges and depreciation, will also be discussed.
"Once an understanding of the new methods is understood, pre-filing planning meetings with accountants should be considered to ensure best management decisions are made," Gessner said.
Because a key feature to the dialogues is audience participation, Gessner and Diersen encourage all participants, whether they will be attending in Sioux Falls or via webinar, to participate in the discussion. "Like most programming developed by SDSU Extension, this event is designed to be engaging," Diersen said.
- 9 - 10 a.m. - Farm Income Update: Matt Diersen, Professor & SDSU Extension Risk/Business Management Specialist
- 10 - 11 a.m. - Macroeconomic Effects: Joe Santos, Professor, Graduate Coordinator, Department of Economics, South Dakota State University
- 11 - 11:15 a.m. - Interactive Break
- 11:15 - 11:30 a.m. - Tax Changes: C. Robert Holcomb,Extension Educator, Agricultural Business Management University of Minnesota Extension
- 11:30 - 11:45 a.m. - Input Projections: Jack Davis, SDSU Extension Crops Business Management Field Specialist and Heather Gessner, SDSU Extension Livestock Business Management Field Specialist
- 11:45 - Noon NAFTA and Trade: Evert Van Der Sluis, Professor, Department of Economics, South Dakota State University