Feb. 24—LIMA — A farmer and agriculture panel discussed the current economic climate Monday at a Lima Rotary Club meeting.
Topics discussed ranged from commodity prices, real estate and land prices, technological advancements, tariffs, marketing and the avian flu.
The panel consisted of Devin Dye, farmer and owner/broker of Dye Real Estate and Land Company; Eli Acheson, of Farm Credit Mid-America in Delphos; Garth McDorman, a farmer and Ohio State University Extension natural resources educator; and Mark Goecke, farmer and president of Ohio Cattlemen's Association.
The prices for corn, soybeans, and wheat have decreased about 30 percent in the past two years, Goecke said during the presentation at Veterans Memorial Civic Center.
"We're coming off of three of the best years earnings-wise from '21 to '23, but with the current commodity markets the challenges we're seeing right now is on balance sheet statements," Acheson said.
According to Dye, there has been a significant amount of pressure on the farmland industry from outside markets in the last 10 years.
"From 2015 to 2025 we averaged 12.5 percent a year in increase on farmland values. That's just crazy," Dye said.
However, he said the farmland market has not seen a huge impact as a result of the reduction in commodity prices.
Farmland has seen a consistent increase because of its availability, Dye said. The average price per acre of farmland in Allen County is around the $12,000 per acre range, with prices ranging from $10,000 to $18,000.
"Commodity prices have come down significantly over the last 18 months, so again, farm equipment has taken it on the chin," Dye said. "Farmers are the only people that buy farm equipment. They're not the only people to buy farmland."
If President Donald Trump follows through with tariffs, negative effects could be a result.
"I think it will be negative," McDorman said. "When that comes to fruition, I'm not sure."
Tariffs are being used as a leverage point, Dye said.
"I hate to see (tariffs) being used as a political tool," Goecke said.
The panel also discussed the ongoing concerns of the avian flu and the increased prices in eggs.
"As of Feb. 7, we've had to euthanize 11 million birds," Goecke said.
Once a bird is infected, it can die within 48 hours. When barns are depopulated, they are cleaned and disinfected while sitting empty.
"They will then swab to see if there's any of those pathogens left over, and then they'll repopulate," Goecke said.