Ag economists’ view on the ag economy is starting to erode, but when asked to rank commodities, economists are the most bullish on beef. The September Ag Economists’ Monthly Monitor also asked economists what could impact livestock prices over the next 6 months.
The August Ag Economists' Monthly Monitor asked economists when they think cattle herd expansion will start to take place. The majority think cattle contraction will continue for at least another year.
The July Ag Economists' Monthly Monitor showed several key changes from June including a bigger cut to corn and soybean yields, a drop in corn and soybean prices and more bullish cattle and hog prices.
The Ag Economists’ Monthly Monitor is a new survey of nearly 50 economists. Most ag economists agree the next 12 months could produce more financial pressure for agriculture, but their views vary depending on commodity.
After years of liquidation, the U.S. cattle herd continues to contract. With drought still a driving force behind lower cattle numbers, market experts think cattle price could top previous price records set back in 2014.
Nearly two years after COVID-19 invaded our world, we are still living with its disruptions, but we should not overlook the more traditional factors also at play.
Farmers across the country are being asked to dump their milk, as food service demand crumbled rapidly due to COVID-19. Still, farmers are frustrated that consumers can't buy as much milk as they want right now.