Farmers and ranchers are expected to face a high-cost input environment again in 2024, according to Mark Welch, professor and Texas A&M AgriLife Extension economist. The trend unfolded in 2023 and is likely to carry into this year, bringing substantial financial investments and risks for the livestock and crop industries.Although some input costs, such as fertilizer, are on a downward trend, Welch noted the savings likely won’t offset the impact of lower commodity output prices seen over the past couple of years.The global grain complex has experienced significant production improvements, resulting in larger grain crops worldwide. However, challenges on the ...