Ag Economists Monthly Monitor
The Ag Economists’ Monthly Monitor survey, administered by Farm Journal, is sent monthly to agricultural economists nationwide to gauge perspectives on important drivers of agriculture.
While ag economists continue to be at odds when it comes to the likelihood of a recession in the U.S., some doubt the country’s biggest importers will be able to avoid a recession over the next 18 months.
Ag economists’ view on the ag economy is starting to erode. The September Ag Economists’ Monthly Monitor shows lower commodity prices, concerns about demand and a negative outlook for China’s economy.
The July Ag Economists’ Monthly Monitor showed several key changes from June including a bigger cut to corn and soybean yields, a drop in corn and soybean prices and more bullish cattle and hog prices.
The majority of ag economists don’t expect a farm bill to be written by the upcoming deadline, but a few think it could happen by the end of the year, according to the most recent Ag Economists’ Monthly Monitor.
The Ag Economists’ Monthly Monitor is a new survey of nearly 50 economists. Most ag economists agree the next 12 months could produce more financial pressure for agriculture, but their views vary depending on commodity.
As agriculture faces multiple challenges, USDA’s latest net farm income forecast is masking the reality for farmers. While livestock margins have improved for 2024, high input costs and below breakeven prices for row crops means margins could be the worst in nearly 20 years.