Low commodity prices are dealing another blow to the ag trade deficit. USDA is now preparing for the third straight year of losses.
The Department expects the ag trade deficit to hit $42.5 billion when the fiscal year starts October 1st, which is a drop of $4 billion from this year, and marks the third straight year of declines since hitting a record low in 2022. Ag imports are expected to increase by around $8 billion.
The economy is tightening its grip on the ag industry. The Chicago Fed says farmland values are slowing in their district, and credit challenges are starting to appear. Fed policy advisers say repayment rates are also starting to slow.
Despite the challenges, they say farm balance sheets have been strong overall, even with less working capital.
Despite volatile cattle and hog markets, many producers continue to avoid futures and options.
NCBA President-elect Kim Brackett discusses why succession planning is essential for farm and ranch families and how a new free resource can help producers plan for the next generation.
Dr. Faith Parum discusses fertilizer market conditions, Farm Bureau’s new strategic fertilizer report, and policy options to strengthen the U.S. fertilizer supply chain.
USDA Under Secretary for Trade Luke Lindberg discusses the Port of Seattle’s role in ag exports, meetings with Washington producers, and the administration’s priorities for trade and expanding export opportunities.
USDA Cattle on Feed report for July shows fewer cattle entering feedlots and inventories remaining below last year as ongoing supply constraints continue to support the cattle market.
Analysts say both crop conditions and geopolitical risks are influencing market sentiment.
