The ag industry is a powerful economic driver and has seen strength in recent years.
New research shows the industry adds nearly $10 trillion to the economy annually, and while it is a stunning number, it is not as high as it once was.
New data was released this week from Feeding the Economy, a group of more than 30 ag groups, like the Farm Bureau and NASDA. This year’s report shows U.S. agriculture will add $9.5 trillion to the economy this year, along with 1,000,000 jobs. Last year the industry brought in $9.6 trillion.
Despite the decline, they found that agriculture has seen big growth since the pandemic, but they do remain cautious about continued pressure.
A big area of the report featured ag manufacturing. It shows jobs in that sector have fallen year over year, with around 30,000 jobs gone since 2020. The Association of Equipment Manufacturers joined us this week on Market Day Report, and they say they have seen sales numbers decline in recent months, and are urging lawmakers to take action, starting with a Farm Bill.
Higher domestic rail tariffs and mixed capacity shifts will influence grain movement this harvest. Strong corn exports provide momentum, but logistics costs remain a critical factor.
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Sergio Bortolozzo, President of the Brazilian Rural Society, discusses the importance of global collaboration and innovation in empowering women in the agricultural sector.
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Malone, Senior Director of Trade Execution at Bunge, emphasized the importance of spaces where women can engage in meaningful conversations about global trade, supply chains, and leadership opportunities.
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Gov. Gavin Newsom has until October 12 to sign a bill passed by the California state legislature allowing E15 sales.
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Livestock and government payments provide a boost, but crop receipts and rising expenses keep pressure on margins. Strong financial planning remains key in a volatile environment.
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The USDA’s August Cold Storage report shows shifting stock levels across major dairy, meat, and poultry products.
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