Ag Economy

New data released by ERS shows the growth in the number of farmers markets is slowing.  From 1994 to 2019, the number of farmers markets rose from 1,755 to 8,771 nationwide, averaging growth of nearly 7% each year.  Expansion began to slow in 2011 before eventually falling below a 1% per year increase between 2016 and 2017.  Since t...

Year-over-year consumer inflation in July was 8.5%, down from the 9.1% we saw in June.  The month-over-month inflation was 0%, though that was largely the result of a 4.6% drop in energy prices.  Food prices reported a nearly 11% year over year increase in July, with a 1% month-over-month jump.   ...

Inflation is "front and center" for agriculture and other sectors as D.C. lawmakers prepare for the November midterm elections.  Iowa Senator Joni Ernst said farm families, regardless of commodity, are feeling the pinch. “We are in a recession, and a lot of these families that normally are exhilarated by the thought of spending a week-and-a-half away from home with their livestock, with

The Farm Credit System reported that combined net income increased 3.5% to $1.8 billion and 3.6% to $3.6 billion for the first three and six months of 2022, respectively.  That compares with net incomes of $1.7 billion and $3.4 billion at the same time in 2021. “...

The Purdue University/CME Group Ag Economy Barometer farmer sentiment index rose six points in July to a reading of 103.  Producers were somewhat more optimistic about both their current and future economic conditions on their farms compared to June.  Ev...

This year is a milestone for Massey Ferguson, as the company celebrates 175 years of serving farmers.  Adam Sills, marketing product specialist with Massey Ferguson, said the company is focusing on a renewed dedication to farmer-focused innovation. “...

Larger loans continued to boost lending activity in the second quarter of 2022 while farm loan interest rates edged higher.  The Federal Reserve Bank of Kansas City said the volume of non-real estate agricultural loans grew steadily alongside an increase in the number and average size of loans.  In...

According to Federal Reserve chairman Jerome Powell, the economy's too hot, inflation too high and so in response Wednesday, the committee raised the federal fund rate by 3/4 of a percentage point.  What do those higher rates mean for farmers and traders? ...

A number of factors are sending up red flags about slowing economic activity and a potential oncoming recession.  A CoBank report said inflation is the largest red flag, and the Fed is ready to raise rates until it believes inflation has been controlled. “Ware...

The Purdue University/CME Group Ag Economy Barometer continued lower in June, down two points to a reading of 97.  The barometer’s Index of Future Expectations also dropped, falling five points to a reading of 95, the lowest level since 2016. Producers w...