During the Opening Session of the 101st USDA Agricultural Outlook Forum late last month, the USDA’s Chief Economist Seth Myer provided his outlook on the 2025 US Farm Economy.
“Last year I was very Concerned about the pace in which commodity prices have been falling. This year I think is a bit different, have we slowed that decline, still not good margins, but I think the momentum is a bit more maybe perhaps if the prices are declining, that the decline is slowing at the moment.”
Myers also outlined that for most major row crops year over year decreases of cash receipts and commodity prices were expected. He also provided an overview of the trends in the livestock sector.
“Livestock Receipts across categories having trended up over the last few years in cattle. Prospects for dairy flat, but above maybe where they’ve been.”
Myers also shared his outlook for inputs.
“Input prices mixed the last couple years of output prices, they’re all lower as margin squeeze continues to occur.”