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Shining Light on Farm & Food Policy for 20 Years.
Thursday, November 21, 2024
Rising production costs were offset by higher commodity prices in 2022, USDA said in its latest forecast, which predicts a jump in net farm income of 13.8% for this year.
Analysts say consumers are likely to see relatively high prices in grocery stores and restaurants for some time, due to strong commodity markets and high agricultural input costs that get passed through the food chain.
Agricultural lenders are bracing for declines in farm profitability next year amid the looming threat of a recession, but some believe strong commodity prices could help ease some of the potential pain producers experience.
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