While the U.S. economy continues to thrive, a report by CoBank shows inflation is still taking a toll on the agriculture sector. Some experts are even bracing for a mild recession by the end of the year.
Drought in the Midwest is having a strong impact on yields. CoBank shows despite higher retail prices for meat and poultry, packers and producers are having trouble boosting their margins. And while consumer demand for beef remains strong, retailers are dealing with tighter wholesale supplies.
The report shows feed and input costs are also slowing economic growth. But although domestic pork demand has been slow, analysts are optimistic about export volumes.
U.S. pork export values have been at some of the highest levels seen in recent years.
Related Stories
Ninth-generation farmer Riley Pierce is a member of the Southwest Pulaski FFA Chapter and the 2024 Kentucky FFA State Star Farmer for his commitment to farming and unyielding work ethic at such an early age.
The Arkansas Farm Bureau introduces us to the Brents Family, who have raised cattle, poultry, and hay on their operation in Jerusalem, Arkansas, for 14 years.
The California Farm Bureau introduces us to Aussie, its 2024 Farm Dog of the Year! Aussie’s proved nothing—not even the loss of a limb—can stop her from protecting her farm and family.
