Meyer: Trade Could Be Challenging In 2025

Fiscal year 2025 could be one of belt tightening, especially for farmers who depend on exports.  USDA is projecting 2025 exports at $169.5 billion; down $4 billion from this current year, and down $26 .5 billion from two years ago.

“A lot of this is tied to falling commodity prices," noted USDA chief economist Seth Meyer. “And then if we look at some other things around the world, maybe a a slower Chinese economy, continued strength of the U.S. dollar.  China, diversifying its sources for trade, perhaps a little bit weaker on export competitiveness for ourselves. Those are all things which are posing some challenges for our exports.”

Meanwhile, Meyer said imports continue to rise.  USDA says 2025 could end up with an Ag trade deficit of over $42 billion. 

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