The USDA’s Chief Economist was one of the featured speakers during the opening ceremonies of USDA’s Ag Outlook Forum Thursday. USDA’s Seth Meyer focused on the farm economy with his comments and the trends in commodity prices.
Commodity prices year over year and cash receipts are expected to decrease for most major row crops, but the outlook for the livestock sector is more optimistic says Meyer.
Meyer also discussed the current situation for input prices.
The gap between ag imports and exports is also projected to remain wide in 2025. USDA is forecasting a $500 million dollar increase in exports based on higher grain and feed exports. While Mexico remains a top importer of U.S. ag commodities, China is importing less says Meyer.
