Home Commodities NDSU’s 2024 commodity price projections guide

NDSU’s 2024 commodity price projections guide

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(ND Ag Connection) – North Dakota State University Extension brings clarity to agricultural planning with its latest release: “Plotting a Course 2024.” Authored by Ron Haugen, a farm management specialist, this crucial publication outlines short- and long-term price projections for North Dakota’s diverse agricultural outputs.

Focusing on major crops like wheat, soybeans, corn, and various others, the publication presents a detailed look at expected prices for 2024 and beyond. It’s a treasure trove of information, covering not only crops but also livestock products like beef, hogs, lambs, and milk.

With these projections, farmers and ranchers can form realistic price expectations, crucial for creating accurate enterprise budgets and cash flow projections.

Haugen emphasizes the importance of using these short-term projections cautiously, advising against their use for long-term planning like capital purchases or expansion. In today’s tight-margin scenario, these projections serve as a critical tool for immediate financial planning.

The comprehensive “Plotting a Course 2024” (EC1090) is readily accessible online and also available through NDSU Extension County offices.

It not only offers projections but also includes historical price data for reference, making it an essential guide for North Dakota’s agricultural community.

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