Max Armstrong talked to Sam Miller, an analyst with BMO Harris Bank in Appleton, Wisc. says farmers in dairy and grain will be profitable this year-- but it won't be as much as last or as easy.

Sam Miller says 2023 will be a good year when it comes to the farm economy-- but don't look for that in 2024 or 2025.

He says only beef prices will stay high this year due to a low supply but others will drop off as 2023 continues.

Miller says land values will stay high with no correction but other costs will hit hard including inputs.

He adds that the economic de-globalization (meaning U.S. manufacturing is making a come back) will not bring inflation or interest rates down due to an increase in costs.

Max Armstrong's Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Max Armstrong, veteran farm broadcaster and host of This Week in Agribusiness.