USDA Agricultural Projections to 2023

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By Paul Westcott (au); Ronald Trostle (au)
Year: 2014
Pages: 97
Binding Paperback
ISBN 978-1-4578-5344-9

Product Code: 1457853442

Description

These projections cover agricultural commodities, agricultural trade, and aggregate indicators of the sector, such as farm income. The 2008 Farm Act was assumed to be extended and remain in effect through the projection period. The projections are one representative scenario for the agricultural sector for the next decade and reflect a composite of model results and judgment-based analyses. Prepared during Oct. through Dec. 2013, they do not reflect the Agricultural Act of 2014. The agricultural sector continues to respond to high prices for many farm commodities. Longrun developments for global agriculture reflect steady world economic growth and continued global demand for biofuels .Increases are projected in consumption, trade, and prices of agricultural products. Thus, following reductions from 2013 levels through 2016, farm cash receipts and the value of U.S. agricultural exports grow beyond 2016. Although farm production expenses also increase beyond 2015, net farm income remains historically high. Tables and figures. This is a print on demand report.

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