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Arkansas farmer says he’s spending less as margins narrow

A farmer in northeast Arkansas says he, along with other farmers in his area, are really buckling down when it comes to spending.

Derek Haigwood tells Brownfield some input costs have come down, while others have gone up. “Try to spend money only on things that turn a profit,” he says. “People in the South are trying to cut back on spending.  Because we spend so much time and money on our irrigation practices. So, I think you’re really going to see a squeeze.”

He says the ag economy continues to be a challenge for farmers. “They’re getting really focused on how, when, and where they spend their money,” he says. “This year, interest rates, input costs, you know we have tight margins as it is and that interest rate, it’s going to be another high year after a struggle last year.”

Haigwood says commodity prices have altered his typical planting intentions, and this year won’t plant any corn and isn’t planting any medium-grain rice.

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