ag imports

The USDA is projecting another record Ag trade deficit this fiscal year as imports surge and exports lag.  USDA Chief Economist Seth Meyer says this is the 3rd year of this current trend.   “From ’23 to ’24, we saw more than a 10-billion-dollar year-over-year increase. This year, we’re looking at som...

While the dollar value of U.S. food and Ag exports is falling.  “The import value has increased steadily over time and continues to do so,” said USDA economist Bart Kenner.  He added Ag exports are running about 3% below last year at this time, while the value of foreign agricultural products coming into the U.S. is up by 5%.  He said there ...

Last week, Representative Marie Gluesenkamp Perez, introduced the Helping Optimize Markets and Encourage Generational Resilience through Ownership, Workmanship, and Nurturing (HOMEGROWN) Soil Health Act.  The Southwest Washington democrat says the legislation will support small, generational farm ownership, long-term soil health, and the production of specialty crops here at home, at a time when 4

The USDA is out with the final Ag trade numbers from December, closing the books on 2022.  USDA’s Bart Kenner said December was a record December for exports $17 billion worth of sales.  He said that puts calendar year 2022 export sales at a record high $196 billion beating 2021's record by $20 billion, but he noted, “most of the gains in exports came from unit value increases from higher prices a

According to ERS, the value of U.S. agricultural imports grew an average of 4% a year between fiscal years 2012 and 2022.  Total U.S. agricultural imports rose from $139 billion to $194 billion, with growth concentrated in select commodity groups.  Horticu...

The USDA released its new Ag trade forecast Tuesday and the main takeaway, is the revised export number.  USDA chief economist Seth Meyer said analysts were already anticipating an Ag export value decline since 2022 set a new record high for U.S. export...

The National Milk Producers Federation says the temporary, short-term lifting of restrictions on infant formula imports to address the rare infant formula shortage is a positive move to fill the supply gap.   “We did not oppose the just-passed Bulk Infant Formula to Retail Shelves Act given its targeted volume and limited time frame,” said NMPF President and CEO Jim Mulhern. “Those guardrai... Rea

The value of all U.S. exports has grown at an average annual rate of 6% since 2002 and reached a record high of $1.4 trillion in fiscal year 2021.  The USDA said while the bulk of U.S. exports consists of industrial supplies and capital goods, agriculture’s share of total U.S. exports has ...

USDA’s preliminary fiscal year 2023 trade forecast is marked by huge uncertainty, according to Chief Economist Seth Meyer.  USDA’s initial export forecast for 2023 is down roughly $2.5 billion dollars on lower volumes of beef, cotton, and sorghum, while imports are up $5 billion dollars for a new record.  But Meyer said the ...

Roughly one month remains on the Fiscal Year, and when the trading books for FY2022 close they will show a strong pace of growth when it comes to Ag exports.  USDA chief economist Seth Meyer said he expects those numbers to be very strong by the end of September.   “...