Seth Meyer

Will the nation's farm sector generate yet another record amount of net income in 2023 as it's done the last two years?   “No, but the expectation is it will still be an above average year.”   USDA chief economist Seth Meyer told the USDA Outlook Forum last week that he expects net cash farm income this year to be $150.5 billion, which, if ...

The price of eggs is projected to fall dramatically after reaching record-high levels over several months.  The USDA said those prices should fall back to typical levels this year, provided the U.S. doesn’t see a rebound in highly pathogenic avian influenza cases in 2023.  The Bureau of...

The USDA’s new farm income forecast for 2023 says the farm sector as a whole will see net cash income down from last year's record high by almost 21% but many analysts are quick to point out.   “Almost any year in connection to 2022 is going to look less favorable," USDA chief economist Seth Meyer said farm country can’t look at new forecast as a farm income disaster.   “Yes, it is declin...

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...

After earning record high incomes last year, even while dealing with an 11% hike in production expenses, the nation's farmers this year could see another increase in those expenses.  ERS head Spiro Stefanou said they expect a more modest increase of as much as 4% this year.  He adde...

Many experts voiced surprise at the latest USDA winter wheat report that showed a sizeable increase in seedings nationwide.  USDA chief economist Seth Meyer said growers put in 37 million acres of winter wheat, which 11% higher than last year, and 2% greater than many had expected.  He note...

After at least five years of annual growth, the year ahead looks like one of contraction for the U.S. meat industry.  But USDA chief economist Seth Meyer was quick to point out the contraction is only occurring in one sector.   “Pork, boilers, turkey all up year over year in 2023.  But, beef producti...

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...

Nearly every year for the past century, or so, U.S. wheat growers have gradually reduced wheat plantings.  For example, growers cut plantings this past year by about a million acres but, perhaps that trend is turning around for 2023.   “...

USDA is forecasting an agricultural trade deficit in 2023.  While deficits have happened in the past, the agency has never forecast one in advance until this year.  The agency says ag exports are projected to reach $190 billion next year, but imports are projected to rise to $199 billion.   Seth Meyer...