Compared to the past four years, 2024 lacked a singular event causing shocks in the farm market and farm prices, according to USDA’s Chief Economist Seth Meyer.
Meyer says that led to a relatively quiet market year in terms of market shocks.
While there was not one singular event that caused turmoil for the marketplace there were numerous smaller events impacting the markets in a typical fashion, says Meyer.
This means a projected downward trend for most prices and tightening margins for producers according to Meyer.
USDA Chief Economist Seth Meyer discusses how a quiet 2024 resulted in minimal shock in crop markets and little in price moderations over the course of the year.
