The ag industry adds about $10 trillion to the economy each year, a new report shows

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.

Related Stories
Gretchen Kuck of the National Corn Growers Association joined us to discuss the Ag Coalition for USMCA’s report findings and expectations ahead of the upcoming USMCA review.
Kevin Charleston of Specialty Risk Insurance discusses the importance of grain bin safety and joint efforts with Nationwide to provide farmers and first responders with access to critical, life-saving rescue tubes.
RealAg Radio host Sean Haney outlines the Trump Administration’s current trade priorities and what meaningful market expansion looks like for farmers.
Bankruptcy filings reflect prolonged margin pressure, rising debt, and limited financial flexibility across farm country. Bigger operating loans are helping farms manage costs, but they also signal growing reliance on borrowed capital.
USDA’s February WASDE report, analysts expect minimal price movement as grain stocks remain steady. Traders weigh renewed Chinese soybean purchases, South American weather, acreage shifts, and upcoming USMCA trade talks.
Lower freight costs helped sustain export demand amid a challenging pricing environment.

LATEST STORIES BY THIS AUTHOR:

Matt Brockman, Communications Director for the Fort Worth Stock Show and Rodeo, joined us with a look at how the legendary event is moving forward—weather and all.
Roger McEowen, with the Washburn School of Law, offers an in-depth look at two of the top legal issues of 202. Today, he walks through last year’s Waters of the United States (WOTUS) ruling and “lawfare.”
Lewis Williamson of HTS Commodities joined us with an update on the historic winter storm impacts and his outlook on today’s ag markets.
Marilyn Schlake with the UNL Department of Agricultural Economics joined us for a closer look at the evolving role of livestock sale barns.
RFD NEWS correspondent Frank McCaffrey recently spoke with Dr. Mike Vickers, a South Texas rancher, who says illegal border crossings have dramatically declined in the last year.
Auction manager and West Texas A&M University student Presley Graves joined us to discuss the growth of StockShowAuctions.com and its impact on youth in agriculture.