By Bill Spiegel, Byline Editor
Peering into agriculture’s crystal ball for 2024 is an interesting exercise. At its heart, production agriculture is the production of food, fiber and fuel. And yet, if you do a Google search along the lines of “what’s in store for agriculture in 2024,” the responses seem to be anything but those core tenets.
- Artificial Intelligence Plows Ahead. According to Leaf Agriculture, the widespread adoption of Artificial Intelligence–AI–continues. First, AI language will become more standardized across the industry, but foremost, tools using AI will continue to proliferate. Deere’s release of See & Spray Technology, which identifies weeds and applies chemistry accordingly, is one of the first mainstream tools to use AI; more will follow. Meanwhile, AI technology will be used to improve autonomous and robotic technologies that could replace human workers.
- Sustainability Continues. Expect food providers to continue to clarify their definition of “sustainability,” writes Christina Herrick in the Jan. 9, 2024 edition of The Packer. But the term itself will continue to drive business decisions that meet climate initiatives, stabilize water usage or improve worker conditions, according to AgMatix. Whether for water-use efficiency, carbon footprint or “new” uses for old crops, food providers will continue to seek ways to improve their “sustainability” scores. Whole Foods, for example, is forging ahead with plant-based proteins; specifically, meat and seafood replacements.
- DEI Moves Forward. GreenBiz notes that agriculture and food companies have made tremendous strides in Diversity, Equity and Inclusion movements since 2020. This year, the agency expects companies to engage Indigenous people in improving food sustainability.
- Connecting Devices in the Field. Austin Gellings, Director of Agriculture at the Association of Equipment Manufacturers, reckons the interconnectivity of devices (drones, machines, computers) will explode in coming years, the data from which will improve AI-induced decision-making and machine learning. All of this has the potential to increase farmer productivity and improve the environment with decreased inputs and soil health improvements. A caveat: is the rural infrastructure in place to allow for efficient connectedness?
- Most Commodity Prices to Fall. The average cash price for corn and soybeans is expected to decline; the measurement of which depends on a farmer’s location, the timing of grain sales and which ag economist/grain marketing guru you talk to. For farmers, that means trying to improve operation efficiency by spreading out crop rotation or spending more time with risk management advisors, including grain marketing and insurance. On the livestock side, USDA expects more pork production, which will continue to lower market price expectations. Beef prices soared in 2023, but that will not be sustained, the agency says. Rabo AgriFinance says beef demand will compete with increased pork and poultry supplies, thus putting downward pressure on prices of all these proteins.
Agree or disagree? Weigh in on what your expectations for 2024 are by emailing the Byline editor, [email protected]