2023 Spring Farm Outlook

Page 26 2023 Logan County Spring Farm Outlook LINCOLN DAILY NEWS March 2023 shortage potential is there. With Illinois being a prime location for corn production, grain fed cattle could easily become an alternative to selling the crop. And finally, there was a blog post that came to the foreground in this time of high inputs and less than stellar income potentials. The blog encouraged readers to take from the previous generations the lessons learned in the days of the great depression. Lesson one was, do I really have to have this? Do I want it because it is nice and new or do I really need it? In a recent survey of Illinois farmers, 43% illustrated this saying that the plan for 2023 was to keep the farm machinery they are now using for at least another year. But, for some, there is a need, and the one final thought on how to be profitable in 2023 is to talk to your neighbors. If Farmer Joe has a better tractor and Farmer Bob has a newer combine, can the two figure out a way to work together and share their equipment. For small to mid-sized farmers, the prospects of a $750,000 combine and header set-up is really the impossible dream in a tough year particularly. According to LDN’s Ag consultant John Fulton, equipment sharing is a very real practice that is working well for farmers in central Illinois, as many are finding it to be the best way to advance with technology without breaking the bank. So, in the end, will producers make money this year? Possibly. The challenge will be to be effective, efficient, and optimistic. Sources Schnitkey, G., K. Swanson, C. Zulauf and J. Baltz. “2023 Crop Budgets: Higher Costs and Lower Returns.” farmdoc daily (12):113, Department of Agricultural and Consumer Economics, University of Illinois at Urbana- Champaign, August 2, 2022. https://farmdocdaily.illinois. edu/2022/08/2023-crop-budgets-higher-costs- and-lower-returns.html Successful Farming 11 ways to make money with 2023 fertilizer These include soil testing, properly handling soil samples, and protecting nitrogen with stabilizers. By Bill Spiegel 11/24/2022 https://www.agriculture.com/crops/ fertilizers/11-ways-to-make-money-with- 2023-fertilizer Successful Farming Why a pre-emergent herbicide is a good investment By Laurie Bedord 11/08/2022 https://www.agriculture.com/crops/fertilizers/ strengthening-your-weed-control-can-help- save-your-fertilizer-investment