Economic report shows trends in agriculture
At its recent monthly meeting, the Farm Credit Administration board received a quarterly report on economic issues affecting agriculture, together with an update on the financial condition and performance of the Farm Credit System (System) as of June 30, 2024.
Highlights include:
* Crop prices have declined sharply
* Cattle producer margins remain high; livestock producers are benefiting from lower feed costs
* Chicken prices remain high while turkey is well below the 5-year average
* Long-term interest rates are moving lower
* Weak crop margins are set to further erode farm sector income this year
Download the complete report (PDF) here>>
Comments