food prices

Food Prices Drop in December BUT …..

Dan Economy, This Land of Ours

Food prices were a little lower in December, but still higher than the year before. That’s coming up on This Land of Ours. The United Nations Food and Agricultural Organization’s Food Price Index dropped during December, but 2022 food prices were 18 percent higher than in 2021. The December index averaged 132.4 points, 2.6 points below November, the ninth-straight monthly …

pork exports

Pork Exports Continue to Gain Momentum; Beef Export Value Sets Annual Record

Dan Beef, Cattle, Economy, Exports/Imports, Livestock, Marketing, Pork, Sheep-Goats, U.S. Meat Export Federation (USMEF)

According to new data released by the U.S. Department of Agriculture (USDA) and compiled by the U.S. Meat Export Federation (USMEF), November exports of U.S. pork were the largest of 2022 in both volume and value, while beef exports were below the large year-ago totals. But, 2022 beef export value already set a full-year record of nearly $11 billion. USMEF President and …

sentiment

Farmer Sentiment Rebounds at Year End on Stronger 2022 Income

Dan Economy

Producer sentiment improved sharply in December as the Purdue University-CME Group Ag Economy Barometer Index reading of 126 was 24 points higher than a month earlier. Although U.S. farmers were more positive regarding both the current situation and the future, the biggest improvement was in their assessment of current conditions. The Current Conditions Index reached 135, 37 points higher than …

usda

USDA Economist Not Worried About Potential Ag Trade Deficit

Dan Economy, Exports/Imports, Trade

The U.S. Department of Agriculture (USDA) is forecasting an agricultural trade deficit in 2023. While deficits have happened in the past, the agency has never forecast one in advance until this year. The agency says ag exports are projected to reach $190 billion next year, but imports are projected to rise to $199 billion. Seth Meyer, chief economist with USDA, …