MIP # 432 Assessing the State of Ag Banking With Alan Hoskins

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Summary

In this episode of the Moving Iron Podcast, Casey Seymour interviews Alan Hoskins from American Farm Mortgage about the current state of ag banking. They discuss early planting, potential interest rate changes, crop prices, succession planning, and the importance of looking at financials on an accrual-adjusted basis. Alan emphasizes the need for open communication and joint meetings between lenders, merchandisers, and farmers to make informed decisions. He also encourages producers to regularly review their financials and consider the long-term implications of their plans.

Keywords

#agbanking, #earlyplanting, #interestrates, #cropprices, #successionplanning, #financials, #jointmeetings, #plant24

Takeaways

Early planting has been observed in some areas, but recent storms and rain have slowed activity.

The Federal Reserve is considering the possibility of inflation leading to rate hikes instead of rate decreases.

Producers should work with lenders and merchandisers to assess profitability and manage risk.

Succession planning should involve joint meetings with all parties present to ensure effective communication and decision-making.

Examining financials on an accrual-adjusted basis is essential to understand true profitability and make informed decisions.

Sound Bites

"What's happening in the world of ag banking?"

"There's a possibility that we could lower interest rates by three times going out through 2024."

"Regardless of the rate environment, it always serves folks well to consider how to manage risk."

Chapters

00:00 Introduction and State of Ag Banking

05:22 Impact of Inflation on Agriculture

09:28 Finding Profitability in Crop Prices

13:29 Navigating Succession Planning

23:49 Closing Remarks and Moving Iron Summit

Chapters

00:00 Introduction and Background

05:50 Shift from 7 Series to 8 Series Tractors

25:41 Value of Networking at the Moving Iron Summit

Click To Watch:

https://youtu.be/P1Z1CWNi21k

Presented By @AxonTire @AgDirect @IronSolutions @randallreilly @Fusable @Valleytransinc

Music By: @TalbottBrothers

Host: @casey9673

#agequipmentbusinesstal #letsgomovesomeiron

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