Illinois Farmers Reel from Skyrocketing Energy Costs
Illinois farmers are facing increased financial pressure due to rising energy prices. Terry Davis, a grain farmer and owner of an ag trucking business, cited volatile fuel prices as a major concern.
He paid $3.50 per gallon for diesel a year ago but saw the price rise to nearly $5 in recent months. This has put his operation 'in a negative margin,' forcing him to renegotiate contracts with customers or consider shutting down.
Mercer County farmer Chad Bell is also affected, noting that electricity costs have more than doubled since he built his pig barn in 2017. He's researching using solar power and considering delaying harvest slightly to let Mother Nature dry the grain.
Energy prices are expected to remain high, with diesel fuel averaging $5.19 per gallon in the Midwest as of July 27, a $1.40 increase from the same time last year. Experts predict that rising oil production by the end of this year could provide some price relief.