By Patrick Burles - @PatrickBurles on Twitter

Ag financing in the future discussed at Tiffin Conference

Jan 20, 2017 | 1:28 PM

LETHBRIDGE – The Lethbridge Lodge was packed Thursday (Jan. 19) for the 2017 Tiffin Conference, with a number of speakers covering some of the biggest issues facing the agriculture industry, specifically, beef producers.

David Hirch, Managing Director of the Agriculture Centre of Expertise – ATB Financial, discussed the future of financing for the industry, saying some major changes are close.

“In terms of the actual funding of loans, I think you’re gonna see the farmers use fintech — or financial technology companies — and they’ll eliminate the middlemen, people like lawyers and banks, and on the other hand, they’re going to need advice from their financial institution, and they’ll be talking to their banker for that,” explained Hirch following his presentation.

Having grown up on a mixed farming operation in Bow Island, Hirch said he’s confident producers will be able to adapt quickly.

“I admire the farmers of this day, because they are so up-to-date on their technology, it’s amazing, everything from autonomous tractors to you-name-it,” stated Hirch. “I think they need to stay ahead because they’re competing against each other, and if they’re going to stay ahead, they need to know the technology that gives them the most efficient operation, and that includes financing.”

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For more on the presentations made at the Tiffin Conference — including a look at what 2017 might have in store for the beef industry — watch for updates on Lethbridge News Now.