Farm outlook clouded by politics, expert tells ICBND

The outlook for commodities important to farmers in the Midwest is sound, although uncertainty over the farm bill is clouding predictions about the future of agriculture. That was the message from Richard Pottorff, an economist with St. Louis, Missouri-based Doane Advisory Services. Pottorff spoke t...

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Bibliographic Details
Published in:Northwestern Financial Review 2006-09, Vol.191 (18), p.20
Main Authors: Miller, Dick, Bengtson, Tom
Format: Article
Language:English
Subjects:
Agricultural lending
Agricultural production
Bills
Conferences
Farms
International trade
Politics
Speakers
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Summary:The outlook for commodities important to farmers in the Midwest is sound, although uncertainty over the farm bill is clouding predictions about the future of agriculture. That was the message from Richard Pottorff, an economist with St. Louis, Missouri-based Doane Advisory Services. Pottorff spoke to bankers at the 39th annual convention of the Independent Community Banks of North Dakota, which convened in Bismarck, August 13-15. The political environment for traditional ag sector participants is changing as the US population grows and the number of farms declines, Pottorff said. More than half of the country's congressional districts, Pottorff noted, have fewer than 1,500 farms. This is a change from decades ago when nearly everyone in Congress represented a sizeable farming sector. Pottorff noted the added uncertainty created by the upcoming mid-term elections, which could change the balance of party power.
ISSN:1042-1254