Below is an excerpt from the most recent edition of WisBusiness Tuesday Trends.
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RISING
Dairy: Wisconsin’s agriculture secretary says the state’s dairy industry is getting stronger as the calendar turns to a new year. The state is still losing dairy farms — with total dairy herds dropping by a total of 681 over the last year to 11,786 as of Dec. 1 — but at a slower pace than previous years. DATCP Secretary Ben Brancel adds that farmers who struggled through the worst of the national recession — largely in 2009 — are rebuilding their financial standing as milk prices rebound. And Brancel says new interest in the $27 billion state dairy sector is up due to growth in exports. The secretary says rising costs will be the biggest challenge for farmers in the new year, noting unpredictable grain markets, rising costs to rent cropland and projections that milk prices will slide somewhat.
MIXED
Foreclosures: A company tracking foreclosure filings in the state says foreclosures dropped 5.5 percent in 2011 over 2010 levels, with a UW-Whitewater economist saying the foreclosure crisis has hit bottom in the state. A recovery, however, is likely still years away, according to UWW’s Russell Kashian. But the moderation in the state numbers doesn’t mesh with recent reports out of Sauk County, where Chicago-based Harris Bank reportedly foreclosed on 52 businesses in the city of Reedsburg. Bank officials dispute that report, saying the number of endangered businesses is actually much lower. Local lenders, however, say Harris is undermining local business after buying out the Bank of Reedsburg in 2008.
FALLING
Winter economy: It’s been among the calmest winters on record thus far, and the lack of snow and cold is causing worries for businesses in winter recreation industries dependent on the season. Snowmobilers have been left with barren trails, ice fishermen face potentially dangerous conditions, and ski resorts are attempting to generate interest with artificial snow. Municipalities facing tight budgets are saving on snow removing costs — so far — but business at auto repair shops and towing companies has also dropped off. And continued warm conditions could wreak havoc on the spring growing season, agriculture experts warn.
