BOZEMAN – A large gathering of farmers, ranchers, and agricultural policymakers convened in Bozeman for the annual agricultural economics conference at Montana State University (MSU) last Friday. This event, part of Celebrate Agriculture Week, marked its 18th year, focusing on current agricultural policy and economic trends impacting Montana. Twelve experts, primarily MSU economics professors, shared insights through presentations and research demonstrations throughout the day.
Discussions highlighted the influence of government policies, global events, and drought on agriculture, emphasizing Montana’s investments in supporting local farmers and ranchers. Sreekala Bajwa, MSU College of Agriculture’s dean, emphasized the university’s impactful research, including plant breeding and automated technology in agriculture, noting a $54 million research investment last year.
“Our land grant mission is taking the knowledge that is generated by research to the producers, to the end users, who can benefit from that,” Bajwa stated. State agencies also shared updates, including Mike Honeycutt from the Montana Department of Livestock, who highlighted a new agricultural lab complex funded by the Montana Legislature in 2023.
The complex, situated off South 19th Avenue in Bozeman, will house upgraded labs, including the Department of Livestock Veterinary Diagnostic Lab and MSU Wool Lab, enhancing testing and research capabilities. The facility is expected to open in 2026. Additionally, Montana’s local slaughter and meat-processing capacity has expanded, with increased state inspections and the approval of its first Cooperative Interstate Shippers licensed facility, allowing product shipment across state lines.
Christy Clark, head of the Montana Department of Agriculture, discussed the $50 million Climate Pollution Reduction Grant from the EPA, with $20 million allocated to fertilizer innovation and ranchland stewardship. Trade relationships were highlighted as crucial, with recent trade missions, such as Clark’s visit to Vietnam, aimed at securing partnerships amid tariff concerns.
Keynote speaker Gary Schnitkey from the University of Illinois addressed global politics’ impact on wheat prices, noting a drop from $8.83 to $5.70 per bushel between 2023 and 2024. He cautioned that shifting away from free trade could lead to unpredictable pricing, affecting agriculture’s export-dependent nature.
Tariff proposals by President-elect Donald Trump raise concerns, potentially risking $5 billion in agricultural exports, according to industry research. Schnitkey also discussed federal farm safety nets in stabilizing markets amid rising operational costs, as Congress considers new Farm Bill legislation next year.
Other presenters, like MSU Extension Specialist Joel Schumacher, focused on weather-related economic impacts. He noted the recovery from severe droughts in 2022 and current favorable cattle prices, though some ranchers still face herd rebuilding challenges.
Seunghyun Lee, an MSU professor, shared research on climate change impacts on crop yields, emphasizing the potential frequency of price shocks for crops tied to the corn market. Upcoming research will explore climate shocks’ effects on crop choices in Montana, particularly regarding winter wheat and fallow land.
The conference also addressed rising property taxes, risk management, and the importance of value-added agriculture in creating new markets. Sponsors including the Montana Farm Bureau Federation and MSU Extension were acknowledged by Bajwa for their support.
“We are celebrating the agricultural legacy, not only the past but also the present and the future of agriculture at Montana State University,” Bajwa concluded, thanking sponsors and participants for supporting future agricultural students.
—
Read More Montana News
