S oaring energy prices, continued strong hog and cattle prices, and consecutive bumper crops have created a unique economic climate for Iowa agriculture. Margins for livestock producers are at record high levels thanks to cheap feed and strong product demand. And despite less-than-optimal growing conditions, Iowa’s corn crop will be the second largest ever and soybean yields look to rebound for a second straight year, reversing a series of disappointing yield years. On the downside, high energy prices translate into higher crop production costs because of higher fertilizer, chemical, diesel, and propane prices. And bumper crops mean lower corn and soybean prices.