Ag Economy

Last week, Ag Secretary Tom Vilsack announced an investment of $9.6 million across the country to help farmers, ranchers, processors, and rural businesses diversify the meat supply.   “We’re putting the needs of farmers, ranchers, and consumers at the forefront of our work to strengthen the resiliency of America’s food supply chain while promoting competition,” he said. “USDA is working on an appr

Look at the USDA’s numbers, and you’ll see that 2022 was far and away a record net farm income year.  But the question on the minds of many in farm county is: will 2023 be a better year?   USDA Chief Economist Seth Meyer says the odds are against that happening for a couple of reasons.  First, as he put it, 202...

Producer sentiment improved sharply in December.  The Purdue University-CME Group Ag Economy Barometer Index reading jumped 24 points month-over-month to a reading of 126.  Although U.S. farmers were more positive regarding both the current situation and the future, the biggest improvement was in their assessment of current conditions.  The Current Condi...

Despite economic disturbances, high crop prices are giving farmers around the world cause for cautious optimism, according to a new survey.  Global consultancy McKinsey & Company recently released the results of its global survey of 5,500 farmers from nine countries.  70% of farm...

When it comes to the first two quarters of 2023, what is the expectation of the farm economy from the banker’s perspective?  That was one of many questions the 2022 Ag Lender Survey, produced by the American Bankers Association and Farmer Mac, looked to answer.  Jackson Takac...

According to the 2022 Ag Lender Survey, produced by the American Bankers Association and Farmer Mac, interest rate volatility is the top concern heading into 2023.  Jackson Takach, chief economist with Farmer Mac, said when it comes to the overall strength of the farm economy, most respondents said the Ag economy is showing improvements.   “...

The U.S. economy still has considerable momentum and is not currently on the verge of recession, that according to CoBank's 2023 Year Ahead report.  Despite that, economists have never been more pessimistic, and there are legitimate reasons for concern.  Over th...

The Farm Workforce Modernization Act awaits Senate action during the lame-duck session, and many in the farming community say this legislation is the closest meaningful immigration reform has come to the finish line in years.  Research by David Bier, Cato Institute associate director of immigration studies, said s farmers would save billions over the next few years if the Senate passes the legisla

The Farm Credit Administration received a quarterly report on economic issues affecting U.S. agriculture and an update on the performance of the Farm Credit System.  Inflation and rising interest rates continue to be major economic issues despite a recent slowdown in inflation.  Consume...

The past couple of years have been fairly good for farm country, financially speaking.  But will that trend continue into the future?   That was one of the hot topics at the 70th Annual American Bankers Association Ag Bankers Conference.  Curt Covingt...