Q1 Photo Contest Submission “Curious Red Baldy”
Submitted By: Kortney Lang Location: North of Hoisington, Kansas
Submitted By: Matthew Gottschalk
Location: Hays, Kansas
YEAR-END INTEREST CREDIT OPTIONS
If you have an installment payment due January 1, 2025, and have funds in either the Installment Fund or Trust Fund, you have the option to apply those funds to the payment early to receive interest credit in 2024.
If this applies to you, you will receive a courtesy letter in the mail with more details. Please sign the bottom of the letter indicating your choice to either apply the funds for interest credit in 2024 or allow them to automatically be applied to the payment in 2025. Then return the letter to your local office by December 27, 2024.
If you do not receive a letter and believe you should have, please contact your local office to confirm your year-end interest credit options.
Another option is to pay year-end accrued interest. If you wish to pay interest through year-end, please give us a call and we will be happy to calculate your accrual to the end of the year. Our final deadline for ALL deposits is 11:00 am CT on Tuesday, December 31, 2024.
Q3 Photo Contest Finalist
“Old and New”
Submitted By: Laurie Josefiak
Location: Pawnee County, Kansas
This Issue
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4
President’s Insights
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9 Vol. 25, No. 3, December 2024
Learn more about the potential impact of tariffs on the ag industry.
Supporting Rural America
The HPFC team is proud to be involved in the communities we call home. Learn more about institutions and organizations we supported in 2024.
Ag Industry Insights
From grain markets to livestock prices, explore the data and trends our experts have been watching.
Picture the Plains
The 2025 Calendar Photo Contest is complete! Check out the winners!
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Association News
State-wide awards, new additions, and employee promotions: Catch all the HPFC Happenings.
11
Crop Insurance
Time to mark your calendars with these important crop insurance reminders.
TPresident’s Insights
NEW TARIFFS, SAME ISSUES
HE 2024 ELECTION OF PRESIDENT TRUMP BRINGS
renewed focus on trade and its implications for U.S. agriculture, particularly regarding tariffs. Farmers, already navigating volatile markets and high input costs, must prepare for potential shifts in trade policy.
Trade Policy Uncertainty
President Trump’s first term saw aggressive tariff policies, including trade wars with China and tariffs on agricultural imports and exports. While these measures aimed to address trade imbalances, they disrupted commodity markets, with soybeans, corn, and pork among the hardest hit. A resurgence of such policies could strain relations with key export markets like China, which are crucial for U.S. agriculture. Farmers may see reduced global competitiveness as higher costs shift market share to Brazil and other competitors.
Commodity Price Pressures
The strong U.S. dollar—already challenging for exports—could amplify difficulties if tariffs increase. A robust dollar makes U.S. products more expensive abroad, discouraging buyers and driving down prices for
key crops. Moreover, geopolitical uncertainty, like the ongoing RussiaUkraine conflict, adds complexity to global grain flows.
Higher Input Costs
Higher operating costs due to tariffs on imported inputs such as fertilizers and machinery could worsen profitability challenges. For instance, elevated fertilizer prices during trade disruptions have historically pressured farmers, especially in regions like the Midwest.
Resilience and Adaptation
To mitigate risks, farmers may need to diversify markets, adopt cost-saving technologies, or pivot toward crops with stronger domestic demand. Policy support, such as adjustments in the Farm Bill or programs like the Market Facilitation Program could provide critical financial support to offset farmers’ losses.
A Call for Policy Clarity
High Plains Farm Credit has already engaged with agricultural leaders to stress the need for predictable trade policies and additional support for agriculture. Collaboration between the Administration and the agricultural sector could help avoid prolonged disruptions while fostering innovation. As uncertainty
looms, Kansas farmers should remain vigilant, leveraging available resources and staying informed about policy developments to navigate this complex landscape. As we close out 2024, we reflect with gratitude on the opportunity to serve you and our rural communities at High Plains Farm Credit. On behalf of our Board of Directors and Employees, I wish you and your loved ones a Blessed, Joyous, and Merry Christmas. We look forward to continuing to achieve success together and being your trusted partner in 2025 and beyond.
Merry Christmas and Happy New Year,
Kevin Swayne President
Our Mission Includes...
SUPPORTING RURAL AMERICA.
AT HIGH PLAINS FARM CREDIT, success has always been about more than the bottom line. As a mission-based lender, HPFC is committed to being a good and caring neighbor. We are dedicated supporters of the rural communities where we live and work alongside our customers.
Long-established cooperative principles encourage us to be actively engaged in industries and programs important to our customers.
CONTACT YOUR HPFC OFFICE for consideration of support for your organization.
Future Farmers of America
Bucklin FFA
Buhler FFA
Central Plains FFA
Chaparral FFA
Cimarron FFA
Cunningham FFA
Dighton FFA
Dodge City FFA
Ellinwood FFA
Ellis FFA
Fairfield FFA
Great Bend FFA
Haven FFA
Hays FFA
Hill City FFA
Hodgeman County FFA
Hoxie FFA
Kansas FFA Foundation
Kingman FFA
Kiowa County FFA
La Crosse FFA
Lakeside FFA
Larned FFA
Little River FFA
Logan FFA
Medicine Lodge FFA
Natoma FFA
Ness City FFA
Northern Valley FFA
Norton FFA
Osborne County FFA
Palco FFA
Phillipsburg FFA
Plainville FFA
Pratt FFA
Pretty Prairie FFA
Quinter FFA
Russell FFA
Scott City FFA
Skyline FFA
Smith Center FFA
South Barber FFA
South Central FFA
Stafford FFA
Stockton FFA
Sylvan-Lucas FFA
TMP-Marian FFA
Thunder Ridge FFA
Victoria FFA
WaKeeney/Trego FFA
Western Plains FFA
Wilson FFA
4-H
Barber County 4-H
Barton County 4-H
Comanche County 4-H
Edwards County 4-H
Ellis County 4-H
Ford County 4-H
Gove County 4-H
Graham County 4-H
Harper County 4-H
Q4 Photo Contest Finalist
“October Sunset”
Submitted By: Lewis Rathbun
Location: Rathbun Farm, Ellis, Kansas
Hodgeman County 4-H
Kingman County 4-H
Kiowa County 4-H
Lane County 4-H
Meade County 4-H
Ness County 4-H
Norton County 4-H
Osborne County 4-H
Pawnee County 4-H
Phillips County 4-H
Pratt County 4-H
Rooks County 4-H
Rush County 4-H
Russell County 4-H
Sheridan County 4-H
Smith County 4-H
Stafford County 4-H
Trego County 4-H
In Our Communities
All American Beef Battalion
American Society of Farm Managers & Rural Appraisers
Barton County Farm Bureau
Bazine American
Legion Post
Brownell Labor Day Committee
Burdett Seniors
Butts Up BBQ
Cancer Council of Ellis County
Care Closet
Clark County Fairboard
Dodge City Roundup
Ellis County Big Brothers Big Sisters
Ellis County Fair
Ellis County Rodeo Pageant
Ellis High School
Ellis High School Project Graduation
Ellis Junior Free Fair
First Call for Help
Ford County Fair
Fort Hays State Rodeo
Fort Hays State University
Grow Hays
Hays High School
Heartland Community Foundation
Hodgeman County Conservation
Hodgeman County Fair
Hodgeman County
Farm Bureau
Jetmore Saddle Club
Kansas Agriculture & Rural Leadership
Kansas American Foundation for Suicide Prevention
Kansas Auctioneers Association
Kansas’ Biggest Rodeo
Kansas Cattlemen’s Association
Kansas CASA
Kansas Cooperative Council
Kansas Corn Growers Association
Kansas Grain & Feed Association
Kansas Junior Rodeo Association
Kansas Livestock Association
Kansas Soybean Association
Kids Ag Day
Kiwanis Club of Hays
Larned Civic Pride
Larned Noon Lion’s Club
Larned Sports Booster Club
Macksville Prom
Manna House
McCracken Rodeo
Meals on Wheels
Minneola High School
NCK Technical College
Ness County Conservation
Ness County Food Bank
Ness City After-Prom
Ness City High School
Northern Valley School
Osborne County Community Foundation
Pawnee County Conservation
Pawnee County Extension
Pawnee County Fair
Pawnee County Food Pantry
Pawnee County
Humane Society
Pawnee Heights After-Prom
Pheasants Forever
Phillipsburg High School
Phillips County Fair Association
Phillips County KLA
Pilot International
Pratt After-Prom
Pratt County Extension
Pratt County Fair Association
Pratt Gun Club
Ronald McDonald House
Rooks County Free Fair
Rooks County KLA
Rozel Lions Club
Rozel Volunteer Fire
Russell County Kickoff
Russell Livestock
Auction
Saint Joseph’s Food Pantry
Santa Fe Trail Center
Sheridan County Community Foundation
Sheridan County Fair
Skyline School Project-Prom
Thunderhawk Booster Club
Western Plains Post-Prom
West Kingman County Education
Wheatland High School
Winter Livestock
AG INDUSTRY INSIGHTS
IN 2024, AGRICULTURAL COMMODITY PRICES
experienced a decline due to record-high production levels and favorable crop expectations. Key commodities like corn, soybeans, and wheat saw significant production increases, which exerted downward pressure on prices. Overall, food commodity prices fell by 3% in the third quarter of 2024, leaving them 8% below their levels from the previous year.
Additionally, lower commodity prices, combined with higher input costs and fewer government
Wheat
The 2023-24 winter wheat crop in Kansas began well with timely rain, faced drought and warmer conditions in early spring, but ultimately benefited from ideal weather in mid-May, leading to good grain production and test weights. Kansas winter wheat production was 307.5 million bushels, up 53% from last year. Area for grain, at 7.15 million acres, was up 24% from last year. The yield per harvested acre was 43 bushels, eight bushels above last year. Average wheat prices in our territory started the year at $5.83 per bushel and ended October at $5.11. Yield per acre is expected to increase over the next three years to 50.5 bushels per acre while season-average price is expected to decline to $5.70 per bushel, then increase to $5.90 by 2027.
From the HPFC Risk Team
payments, contributed to a decline in net farm income. The USDA’s projections also indicate that agricultural prices are expected to continue their downward trend into 2025.
Donald Trump’s re-election brings a mix of potential challenges and support measures for the agricultural sector. The key factors will be how trade policies are managed and what support mechanisms are put in place to help farmers navigate these changes.
Agricultural markets, including soybeans and wheat, experienced
Soybeans
Kansas 2024 soybean production is forecast at 175 million bushels, up 69% from last year. Yield is forecast at 39 bushels per acre, up 13 bushels from last year. Soybean prices have experienced some volatility in 2024 with average soybean prices in our territory declining since the beginning of the year from $12.06 to $9.01 as of October. However, soybeans are anticipated to benefit from strong global demand, particularly from China. Yield is expected to increase to 53.0 bushels per acre over the next three years while season-price is expected to decline to $10.00 per bushel from 2024’s season-average of $12.40.
declines after Trump’s re-election due to fears of retaliatory tariffs from China, a major buyer of U.S. agricultural products. If similar tariffs are reintroduced, it could further disrupt trade and reduce market access for U.S. agricultural exports.
However, to mitigate the impact of tariffs and trade disruptions, the Trump administration previously provided subsidies to farmers through programs like the Market Facilitation Program. It is likely that similar support measures could be reintroduced to help farmers cope with the economic challenges.
Corn
Kansas corn fields are seeing mixed results with overall yields varying significantly depending on the region and amount of rainfall received during the growing season. Kansas’ 2024 corn production is forecast at 800 million bushels, up 31% from last year’s production. Area to be harvested for grain, at 5.80 million acres, is up 13% from a year ago. Yield is forecast at 138 bushels per acre, up 19 bushels from last year. Average corn prices in our territory have stayed steady for the year ranging from $4.12 to $4.55 per bushel. Over the next three years, yield is expected to increase to 184.0 bushels per acre. Prices are expected to decline to $4.00 per bushel.
MONTHLY GRAIN MARKET
Note: The shaded region represents the period season-average price. Projection Period Source: USDA
Production is expected to be strong in 2024 due to favorable weather conditions and increased acreage, with modest growth driven by strong demand from China and Mexico. Kansas sorghum for grain is forecast at 165 million bushels in 2024, down 3% from last year. Area for harvest, at 2.70 million acres, is down 17% from 2023. The yield is forecast at 61 bushels per acre, up nine bushels from last year. Average sorghum prices in our territory have mostly declined since the beginning of the year from $4.90 to $3.87 per bushel. Yield is expected to increase to 68.8 bushels per acre by 2027. Prices are expected to decline to $3.80 per bushel before increasing to $4.20 in three years.
Livestock & Feeder Cattle
The total cattle herd at the beginning of the year was the smallest since 1951 at 87.2 million head, down 1.6 million (1.9%) from 2023. Cash cattle prices remained strong throughout the year due to low fed cattle supplies and high consumer demand, setting multiple records. Producers benefited from softened feed costs and improved weather conditions, with sustained price firmness expected through winter and potential new highs in spring 2025. Feedlot entries in January were down sharply from year‐ago levels, but as of September 1, cattle in large feedlots were up 71,000 (0.6%) from last year. The total cattle herd is projected to decline this year by 1.2 million head and then increase to 88.6 million head by 2027. Over the next three years, feeder and live cattle prices are expected to rise for several years before declining to $190.79/cwt and $260.72/cwt, respectively.
Important Reminders
FOR CUSTOMER-STOCKHOLDERS
COMMITTEE
HIGH PLAINS FARM
CREDIT CUSTOMERSTOCKHOLDERS HELP make our association The Right Choice in Ag Lending. Our cooperative structure with customerstockholder governance is one of the unique benefits that separates HPFC from other lenders. Central to the cooperative structure is our board of directors and the nominating committee that assists in the candidate selection process.
Voting stockholders have a unique role to play each year by electing new members to the board of directors and the nominating committee. Any borrowers owning voting stock can be candidates for the board of directors or the nominating committee.
Serving on the Board of Directors
Annually, the HPFC Nominating Committee selects director candidates for board elections, taking into account representation of all loan types, association territory, and customer mix.
During the 2025 election, four director seats will be up for election. All stockholders will receive a letter in the mail in late December that details the election process and open positions.
If you’re a customer-stockholder interested in being considered for a seat on the board, scan the QR code below to complete the online application form. Also feel free to contact a current board member or any member of the 2025 nominating committee listed.
Serving on the Nominating Committee
The 2025 nominating committee also has the responsibility of nominating candidates for the 2026 committee. If you are a borrower eligible to own voting stock, you may also nominate yourself to be considered for a position on next year’s committee. Scan the QR code below to complete an application or contact a current committee member! Whether it’s running for a position as a director or joining the nominating committee to assist in finding candidates, we need your unique perspective to help High Plains Farm Credit continue serving rural America!
Territory 1
John Blackwell, Joss Briggs, Rhonda Goddard, Matt Grabbe, and Jared Petersilie
Territory 2
Jerod Horchem, Kirk Larson, Lindy McMillen, Diana Paris, and Brad Werner
2025-2026 SCHOLARSHIPS
SUPPORTING THE FUTURE OF OUR RURAL COMMUNITIES means contributing to the success of students in our area. That’s why HPFC is proud to offer up to four $1,000 scholarships to college and university students for the 2025-2026 academic year. These scholarships are designated for students whose parent (guardian)
or grandparent is a stockholder with the association. Students should also exhibit leadership potential or initiative.
Scholarships are renewable for one year, if the student maintains a minimum grade point average of 2.5 and is properly enrolled in at least 12 credit hours for the next term or session.
Scan to apply online!
Applications are due to the Hays office by 5:00 pm on March 7,
Q1 WINNER
“Brownspur Grain Elevator”
Submitted By: Angie Beck
Location: Brownspur, Kansas
Q3 WINNER
“Water Cooler Talk”
Submitted By: Holly Mettling
Location: Graham County, Kansas
FIVE YEARS. 20 WINNERS. 252 PHOTOS. THE HPFC Calendar Photo Contest is growing. In our largest year yet, our team received 52 total ag photo submissions. We can’t wait to showcase our 2025 calendar featuring some of these amazing pictures. Thank you to all the High Plains
Q2 WINNER
“Ditch Full of Dollars”
Submitted By: Marit Ehmke
Location: Western Lane County, Kansas
Q4 WINNER
“American Harvest”
Submitted By: Tonetta Stieben
Location: Bazine, Kansas
Farm Credit stockholders who shared their favorite photos and to those who voted for their favorite finalists during our quarterly Facebook contest!
Be sure to congratulate this year’s quarterly winners of the $100 prize and to check out their work in our calendar!
STEP ONE
Highlight the natural beauty of our rural region and select your favorite photo(s)!
STEP TWO
Prepare your submission by including a photo title, description, location, and photographer name.
CALENDA R PHOT
STEP THREE
Submit your entry as a digital photo at the largest file size (greater than 1 MB) or at the “Actual Size” setting.
HPFC Happenings
ASSOCIATION NEWS
CELEBRATING SUCCESS
THE HPFC TEAM IS HONORED TO BE RECOGNIZED AS THE AgriBusiness Regional Award Winner for the 2024 To The Stars: Kansas Business Awards. The annual awards ceremony highlights outstanding businesses for their dedication to the growth of Kansas communities and the state economy. This year, the Kansas Department of Commerce received 346 nominations across nine categories of awards. Businesses were nominated for their community and statewide contributions of job opportunities, products and services, innovations
to the local marketplace, and beyond.
“High Plains Farm Credit is proud to stand among these nominees and winners for its efforts to support farmers, ranchers, and rural communities throughout Northwest Kansas,” High Plains Farm Credit President and CEO, Kevin Swayne, said. “We would like to thank the Kansas Department
of Commerce for coordinating and hosting this year’s ceremony and for their commitment to recognizing the dedication and resiliency of local businesses and entrepreneurs.”
NEW ADDITIONS
Stetson Jayce Darcy
Minnie Joleen Housholder joined the HPFC family on April 26, weighing 9 pounds, 10 ounces, and measuring 203/4 inches long. Minnie was welcomed by big brother, Arthur (3.5), and big sister, Sophie (2). Curt and Jess are beyond excited to have their third child. Jessica is a Loan Accountant for the Capital Markets Group and works remotely out of her home located near Courtland, Kansas. Congratulations to the Housholder family!
Stetson Jayce Darcy became part of the HPFC family on July 16. He weighed 7 pounds,11 ounces, and was 211/4 inches long. His parents are Kaylee Simon and Rocky Darcy. He joins brothers Dwight, Jayden, and Landon. Kaylee is a Lending Operations Specialist in the Dodge City office. Congratulations to the family!
Jenni Mead Lending Operations Manager
Larned Office
Kate Appleton Human Resource Manager
Larned Office
Jill Habiger
Lending Operations Coordinator
Larned Office
High Plains Farm Credit VP Controller, Angie Murray, and VP Marketing, Jared Bauck, accept the AgriBusiness Regional Award from Kansas Lt. Governor David Toland. Winners were honored during the 2024 “To The Stars: Kansas Business Awards” ceremony in Great Bend on October 3.
Minnie Joleen Housholder
THE YEAR IS DRAWING TO A CLOSE… WHICH MEANS THE HPFC CROP INSURANCE TEAM IS HARD AT WORK booking the year’s wheat acres. As you’ll be receiving your schedule of insurance soon, confirming the accuracy of this document is essential to the effectiveness of your 2025 crop insurance policy. Follow these yearend crop insurance reminders to give the new year a strong start!
Carefully Review Your Schedule of Insurance.
When you receive your schedule of insurance, please review the forms thoroughly to ensure that all information is accurate. Report any errors or discrepancies as soon as possible to keep the claims process flowing smoothly. Sending in for corrections may slow claim time and some of these corrections cannot be completed.
When checking your schedule of insurance for accuracy, be sure that all wheat acres and shares shown on the forms match what you reported to the FSA Office.
FROM CROP INSURANCE
In the instance of a loss, the adjuster uses FSA certified acres to work the claim. If the FSA numbers do not match your schedule of insurance, you will be paid based on the acres shown on the certification.
Determine Short Rate Acreage.
The decision to short rate specific fields can save money by offering a reduced premium for acres destroyed prior to harvest. You have until March 15 to determine whether you will graze out any of your wheat.
Any short rate acres should be included in your revised acres report. After submitting this document, you will receive an updated schedule of insurance that reflects the reduced premium. However, it is important to note that short rate acres are not eligible for a claim.
Please contact our team if you have any questions about this process or the best course of action for your specific operation.
Mark Your Calendar for March 15.
The deadline to submit revised acres reports that include short rate acres is March 15, 2025. If the documents
are not signed and received by the deadline, you will receive a zero on your production report for fields not harvested or reported. All production will be averaged with that field and will be considered “destroyed without consent.” This may also prevent a claim on other fields.
Questions? Contact the Team Today!
As we look to the exciting year ahead, the HPFC crop insurance team thanks you for allowing us to assist in securing your operation. We greatly appreciate your support and patronage.
Feel free to contact our team with any questions regarding how we can best serve you in 2025!
December 24th & 25th
January 1st
January 10th
January 20th
February 17th
March 7th
March 15th
March 15th
March 15th
March 17th
March 18th
March 19th
March 24th
March 25th
March 26th
April 1st
HPFC Offices Closed Christmas Holiday
HPFC Offices Closed New Year
H Stock Dividends Paid
HPFC Offices Closed Martin Luther King Jr. Day
HPFC Offices Closed Presidents’ Day
HPFC Scholarship Applications Due
Short Rate Acres Reporting Due
Termination Date for 2024 Spring Crop Insurance Premium Due
Sales Closing for 2025 Corn, GSORG, and SBEAN
Dodge City Customer Appreciation Event
Pratt Customer Appreciation Event
Larned Customer Appreciation Event
Ness City Customer Appreciation Event
Phillipsburg Customer Appreciation Event
Hays Customer Appreciation Event
Mail Out Spring Acres Reports/Production Reports
Q2 Photo Contest Finalist
“Raking Milo for Hay” Submitted By: Kristie Copeland Location: Southwest Ness County, Kansas