Ag Economy – Farm Bill
The “Washington Insider” section of DTN reported yesterday (link requires subscription) that, “There has been considerable discussion in the farm press recently about last year’s decline in major economic indicators. Last month, USDA’s most recent economic review documented what producers already know: the sector has been whipsawed by highly volatile domestic and international forces since mid-2008. These trends were initially favorable, the agency said, but then weaker domestic and international markets have undercut prices and returns for many, although not all commodities.
“The result, for 2009, is double-digit declines in crop and livestock cash receipts [related graph depicting value of production]. And, it has meant declines in average net cash income for farm businesses.”