Last year proved to be an interesting year for many reasons, but according to the Economic Research Service, 2020 may be remembered for being the year agriculture broke out of the recession to the industry had suffered through for almost a decade.
How important are exports for U.S. agriculture? According to the Economic Research Service, ag exports add $302 billion in economic output every year.
Economic and financial conditions in U.S. agriculture continued to strengthen in the first quarter alongside ongoing increases in the prices of major row crops.
The United States is a major exporter of agricultural products, with about 20 percent of its farm output sold abroad, however, an economic crisis in foreign markets is threatening to reduce U.S. export sales.
Volatile seems to be one of the best words to describe 2020, especially in agriculture.
Though some producers are able to supplement their income with off-farm jobs, the Economic Research Service says dairy producers are the least likely to do so.
The U.S. economy continues to outperform expectations as stimulus funds are fueling robust consumer spending.
What role do most landlords have in the operation of their farms? That’s a question the Economic Research Service has been asking.
Economic conditions in agriculture improved dramatically in the fourth quarter of 2020 alongside sharp increases in the prices of several major commodities, according to the Federal Reserve Bank of Kansas City.
According to the Economic Research Service, in 2019, about 71 percent of farm households had one or more members earning wages away from the farm.
As the farm economy continues to work through a prolonged downturn amid a global economic slowdown, agricultural lenders remain concerned with the same factors for themselves and their borrowers as they did last year.
As the farm economy continues to work through a prolonged downturn in the midst of an unparalleled, global economic dislocation, ag lenders remain focused on credit quality.
Times are tough on the farm right now as commodity prices have fallen significantly, and in some cases by 50 percent since 2014.
Bankers responding to the third-quarter survey reported overall weaker conditions across most regions of the Eleventh Federal Reserve District in Dallas.
razil has emerged as a major competitor for the United States in global agricultural markets, and is now the world’s third largest exporter behind the European Union and the United States.
The coronavirus pandemic has now impacted all four quarters of 2020, and seemingly every aspect of life and business.
World trade shows signs of bouncing back from a deep, COVID-19 induced slump, but World Trade Organization economists caution that any recovery could be disrupted by the ongoing pandemic effects.
According to the Occupational Outlook Handbook, the U.S. economy is projected to grow by .4 percent or an additional 6 million jobs by 2029.
The Federal Reserve released its latest Beige Book, and according to the Kansas City Federal Reserve Bank, the Tenth District farm economy remained weak despite some signs of stabilization in markets for key agricultural commodities.
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