FAPRI Baseline Update
A University of Missouri news release from yesterday stated that, “The livestock sector can lead the agricultural economy to higher net farm income, assuming the farm economy benefits from a recovering general U.S. economy.
“That analysis tops a 2010 baseline report prepared by the University of Missouri Food and Agricultural Policy Research Institute (FAPRI). The 66-page report will be delivered to the U.S. Congress, Tuesday (Mar. 9). The 10-year baseline shows economic possibilities for livestock, crop and biofuels under certain assumptions.
“‘If jobs–and consumers–return, the agricultural sector will benefit,’ said Pat Westhoff, co-director of MU FAPRI. ‘Higher incomes increase the demand for food, feed, fiber and fuel, supporting farm commodity prices.’”