USDAs 99th Agriculture Outlook Forum is underway at the nation’s capitol

USDA’s annual ag outlook forum is underway in Washington, D.C.

Economists are giving outlooks on dairy, cotton, sugar, livestock, and grains. Seth Meyer predicts a growth in planted acreage in corn, wheat, and soybeans, including a major rebound in wheat planting.

Total acreage for all three crops is projected at $228 million, a three percent jump from last year. Prices are expected to be lower than last year but still above average.

The department released its latest outlook for agricultural trade. Exports are predicted to be down $5.5 billion from the November forecast, coming in at $184 billion. The export forecasts for all the major commodity groups are also down, with the largest declines for corn, sorghum, and soybeans. China is predicted to remain the largest market for U.S. ag exports, which is unchanged from the last expectation. U.S. ag imports for the fiscal year are unchanged from the last report, expected to come in at $199 billion.

In terms of commodity outlooks, economics anticipate global cotton consumption to grow after several seasons of decline, and production is expected to rise less than one percent.

The U.S. dairy entered the year facing pressures from high input costs and lower milk prices. Milk per cow is expected to rise faster this year than last, and output per cow per day is projected to increased compared to last.

U.S. corn and wheat will see a bigger production year, including domestic use, exports, and ending stocks.

Feed prices and U.S. cattle inventory are both likely to decline this year, but economic growth will support demand.

Our own Tammi Arender was in attendance at the Forum, where she had the chance to catch Secretary Tom Vilsack’s takeaways.

Secretary Vilsack also told reporters a series of meetings will soon begin between U.S. and Mexican trade officials, regarding the country’s GM corn ban. He said if no resolutions are made, the U.S. will resort to a formal process under USMCA and there will be no compromise.

Related Stories
USDA Meteorologist Brad Rippey says there are a few silver linings in the spring forecast for farmers even if El Niño doesn’t make its exit in the coming weeks.

Agriculture Shows
From soil to harvest. Top Crop is an all-new series about four of the best farmers in the world—Dan Luepkes, of Oregan, Illinois; Cory Atley, of Cedarville, Ohio; Shelby Fite, of Jackson Center, Ohio; Russell Hedrick, of Hickory, North Carolina—reveals what it takes for them to make a profitable crop. It all starts with good soil, patience, and a strong planter setup.
Champions of Rural America is a half-hour dive into the legislative priorities for Rural America. Join Host and Market Day Report Anchor Christina Loren as she interviews members of the Congressional Western Caucus to learn about efforts in Washington to preserve agriculture and tackles the most important topics in the ag industry on Champions of Rural America!
Farm Traveler is for people who want to connect with their food and those who grow it. Thanks to direct-to-consumer businesses, agritourism, and social media, it’s now easier than ever to learn how our food is made and support local farmers. Here on the Farm Traveler, we want to connect you with businesses offering direct-to-consumer products you can try at home, agritourism sites you can visit with your family, and exciting new technologies that are changing how your food is being grown.
Featuring members of Congress, federal and state officials, ag and food leaders, farmers, and roundtable panelists for debates and discussions.
Host Ben Bailey hops in the tractor cab, giving farmers 10 minutes to answer as many questions and grab as much cash as they can for their local FFA chapter.