Ag Economy

There are several reasons behind the USDA forecasting a 21% drop in net cash income for farmers this year, but one of the more obvious reasons is the roughly 34% drop in government payments.  USDA chief economist Seth Meyer said 2023 will mark a couple of years in a row of direct government payments declining.  Meyer s...

ERS released the February Farm Income Forecast this week.  Net farm income, a broad measure of profits, is forecast at $136.9 billion for the year ahead, a decrease of $25.9 billion, or 15.9%, when compared to 2022.  After adjusting for inflation, net farm income is forecast to decrease $30.5 billion, or 18.2%...

The Purdue University-CME Group Ag Economy Barometer Index rose again in January, to a reading of 130, four points above its 2022 year-end index value.     The January survey results also pushed the index 34% above its 2022 low point, which occurred in June.  The baromete...

The Oregon Department of Agriculture is seeking applicants to fill 55 commissioner seats on 19 of the state’s agricultural and commercial fisheries commodity commissions.   Acting ODA Director Lauren Henderson appoints commissioners.  Once sel...

As conversations over the 2023 Farm Bill intensify in the coming months, all corners of the farming economy will watch the debate very closely for a variety of reasons.   But, what about the Ag Lending community?   Ed Elfmann Sr. Vice Pre...

Investing in farmland is beneficial for investors and farmers, and Promised Land provides a unique opportunity to participate in a large-scale opportunity zone investments.  John Heneghan, Promised Land Opportunity Zone Funds Manager, said Promised Land culminated as opportunity zone tax legislation can be applied to farmland.  ...

The U.S. is currently in a third round of talks to redo the World Trade Organization’s trade dispute arbitration system.  The U.S. Ambassador to the WTO told Reuters that America wants it to be fully up and running by the end of 2024.   The WT...

State lawmakers in Oregon are considering changes to rules governing home-based food businesses.  Bend State Senator Tim Knopp is chief sponsor of the bill he said opens up opportunities for more small food-based businesses.   “Baked goods, confectionary items, coffee beans, teas, popcorn, jams, jellies, honey, syrup, fruit butters, mixed nuts, freeze-dried foods, dried and dehydrated foods.”   Je

Combine harvester sales finished the year with healthy gains in unit sales while ag tractors finished the year below 2021 levels in both the U.S. and Canada.  Curt Blades, AEM senior vice president, industry sectors and product leadership, said the decline largely reflects the robust sales in 2020 and 2021.  ...

U.S. farm cash receipts from animals and animal products totaled $195.8 billion in 2021, led by receipts for cattle and calves at $72.9 billion, or 37%.  USDA’s Economic Research Service reports that poultry and egg products made up the next largest share of 2021 cash receipts at $46.1 billion, or 2...