ISU’s Jason Henderson says the ag economy is in a typical cycle and should rebound, while IFBF’s Zach Brummer advises farmers to be ready to meet challenges head on.

Iowa farmers are advised to strengthen their balance sheets, preserve working capital and prepare for a recovery as the agricultural economy weathers its current downturn.

Jason Henderson, vice president for Iowa State University (ISU) Extension and Outreach, and Zach Brummer, Iowa Farm Bureau Federation farmer education program manager, spoke to Iowa Farm Bureau members at their annual meeting last week. They noted that while the sluggish economy poses short-term challenges, it reflects a typical cycle that is expected to stabilize within the next few years.

“We have farm booms followed by farm downturns, where you hunker down a little bit, shore up your debt base …, your balance sheet,” Henderson said. “Think about how to...