Nebraska Farm Bureau predicts massive loss of profit

LINCOLN, Neb. (KLKN) — The Nebraska Farm Bureau announced today their predictions regarding the farm economy in Nebraska.

“If you feel like your pocket book is a little lighter as a producer, at the end of the year there is reason for that,” Nebraska Farm Bureau officials said at Husker Harvest Days.

Bureau leaders spoke on the challenges farmers, producers and ranchers will and do face. They say the cost is significantly higher for essential farm products.

According to the Bureau, the biggest spike they’ve seen is in the cost of fuel and fertilizer. Abygail Petersen, an economist and analyst with the Nebraska Farm Bureau, said diesel prices alone raise costs by nearly 45%.

Petersen said this means an estimated $759 million loss for corn and a $266 million for soy beans.