“As expected, net farm income is forecasted to decline significantly in 2015 based on lower commodity prices and increased supplies at a global level. Land values are holding up under the adverse economic conditions, but softening is in-process in the grain belt, particularly in Iowa and Minnesota …”
So begins the executive summary in the first edition of The Feed, Farmer Mac’s new quarterly perspective on U.S. agriculture. For the past 10 years, Farmer Mac economist Jackson Takach has prepared a quarterly agricultural economic report for internal uses. Farmer Mac has decided to share information from that report to a broader audience, a news release said.
Chartered by Congress under the Agricultural Credit Act of 1987 in response to the national farm crisis of the 1980s, Farmer Mac is the largest purchaser of U.S. Department of Agriculture guaranteed loans. During the past quarter century, Farmer Mac has helped fund loans to more than 62,000 rural borrowers in all 50 states – resulting in more than $36 billion of investment in rural America, its 2014 annual report said.
The fall 2015 edition of The Feed includes information on farm income and asset levels, as well as outlooks for cattle, hogs, dairy, corn, soybeans and other such crops as almonds and citrus. It also includes a page on weather trends.
Each section comes with charts and graphs to help readers navigate easily through the pages, as well as a summary of key highlights.
One of the key takeaways from the hog report, for example, was that current finishing operation economics are near breakeven levels on seasonally lower feed costs.
Farmer Mac is a stockholder-owned company with a portfolio that ranges from almond groves in California to wheat, corn and soybean crops in the Midwest, and from cattle ranches in the Southwest to electrical distribution cooperatives in the Southeast, according to its 2014 annual report.
To review the inaugural edition of The Feed, click here.
More information about Farmer Mac is available at www.farmermac.com.