The ag trade deficit is projected to rise again this year. New numbers out this week show it has taken big leaps over the last couple of seasons.
USDA shows the ag trade deficit will land in the red at $49.5 billion for this fiscal year, which ends in September, and that is up from $49 billion projected back in February. Last year, the deficit was just shy of $32 billion, and it was $17 billion in 2023. In 2021, the ag trade deficit was just $2 billion.
The updates come as USDA lowered its forecast for exports of livestock products, canceling out increases in oilseeds and grains.
Before leaving her trade mission in Rome this week, Ag Secretary Brooke Rollins took to X, commenting on those new numbers. She says the time has come to shrink that gap and open up new markets around the world. She adds that additional bilateral trade deals are on the horizon for U.S. row croppers. Secretary Rollins left Italy yesterday, but has plans for more trips to India, Vietnam, and Japan next month.
Herd rebuilding looks slow, keeping cattle prices supported; beef-on-dairy crosses help fill feedlots, while imports temper—but don’t erase—tightness.
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China is making strategic moves by purchasing more soybeans from Argentina and may soon follow the EU and reopen its market to Brazilian chicken exports.
September 23, 2025 01:21 PM
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Lamb prices have seen a surprising surge driven by a tight supply and increasing demand in non-traditional markets.
September 23, 2025 12:40 PM
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Farmers should watch for soybean export rebounds with harvest, while corn and wheat shipments remain strong and sorghum demand struggles.
September 23, 2025 11:54 AM
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“We believe that it is just a matter of days or weeks... before we see New World screwworm in Texas.”
September 23, 2025 11:08 AM
Rollins says the new trade relationship with Taiwan, which is committed to buying a significant amount of U.S. soy, could not come at a better time for farmers facing financial strain.
September 23, 2025 11:06 AM
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