Ag economist expects crop input costs to steady
An extension ag economist expects 2023 crop input costs to be comparable to the past year.
Chad Hart with Iowa State University tells Brownfield price increases should be less intense relative to 2021 and 2022.
“We did see tremendous upside pressure on our cost of inputs. Here as we’re going into 2023, I think we’re not necessarily seeing that same sort of surge on the upside. But we’re also not bringing this thing down again either.”
He’s looking for steady to slowly rising input costs going forward.
“Agriculture is a competitive industry, and whenever we’ve got high prices like we’ve been experiencing over the past couple of years our production costs rise to match those prices over time.”
And Hart says that process is likely to continue in 2023.