commodities

As the COVID-19 virus continues to spread in the U.S., its impacts have reached every aspect of our lives and shook all sectors of the economy. Amid this crisis, there have been widespread worries that the disease could threaten the nation’s food production and supply systems and stoke inflation. Many began to wonder whether the food they need will continue to be available and affordable as we work our way out of the outbreak.

It’s a new year at USDA, at least for those of us forecasting agricultural commodity markets. Every May, the World Agricultural Outlook Board (WAOB) in the Office of the Chief Economist releases USDA’s initial projections of the markets for the crops and livestock that will be produced and harvested in the new crop year. WAOB develops USDA’s official forecasts by coordinating Interagency Commodity Estimates Committees (ICECs) to compile the latest and most comprehensive information and intelligence available from across USDA agencies. On May 10, USDA released its World Agricultural Supply and Demand Estimates (WASDE) report with these estimates for the 2019/20 crop year. The report also includes updated information on the 2018/19 and previous marketing years, but the early assessment of the “new crop” is a focal point of the May report.

In 2017, consumers in the United States spent $1.2 trillion on U.S.-produced food. Nearly all food starts out on a farm, but did you ever wonder how the value added from processing, packaging, transporting, and marketing agricultural food products factors into the costs?

Each year, agricultural experts from around the world gather in Paris to crunch numbers, analyze trends, and produce a 10-year global agriculture outlook report. I was among those analysts, and today, we unveiled our collective efforts in the OECD-FAO Agricultural Outlook 2018-2027.

The United States is the largest beef producer and one of the largest beef exporters in the world.  In order to remain competitive, our Nation’s beef producers and everyone else in the supply chain need reliable data to evaluate market conditions, identify trends, make purchasing decisions, and monitor price patterns.

USDA Market News – part of USDA’s Agricultural Marketing Service – provides the entire beef industry with equal access to the data they need with just the click of a button.  Livestock, Poultry, and Grain Market News Division reporters gather and disseminate beef market information, ranging from feeder cattle to retail beef prices.  From farm-to-fork, we have the cattle and beef markets covered.

Earlier this week, the USDA’s Agricultural Marketing Service (AMS) hosted a webinar on an exciting new initiative to provide unbiased market data to users digitally. Called the Market Analysis & Reporting Services (MARS), this dynamic, innovative technology will assist USDA Market News in collecting and distributing information electronically from remote locations, by combining reporting from all commodity areas (Livestock, Cotton, Specialty Crops, and Dairy) into a single platform.

This modernization effort will improve the transparency, speed, accuracy, and flexibility of this vital service and allow Market News to continue to expand its services to agricultural market participants.  To ensure that our changes meet your needs, we are conducting focus groups and welcome you to participate.  Your input will enable Market News to speed data flow from the agricultural markets, to agency analysts, and to the public, allowing users to create unique content.

Editor's Note: The free webinar on the Market Analysis and Reporting Services (MARS) has been moved to Thursday, April 14, 2016 at 2 p.m. Eastern.  Sign up using this link:  http://bit.ly/1MxNAWj

For over 100 years, USDA Market News has been an indispensable service, used by agricultural producers of all sizes to get timely, unbiased data from Market News reporters across the country.  Farmers, ranchers, and the entire agricultural supply chain turn to USDA Market News – administered by USDA’s Agricultural Marketing Service (AMS) – for data that serves as the information lifeline for America’s agricultural economy.  Now, Market News is entering a new phase, deploying the Market Analysis & Reporting Services (MARS).  It’s a big step forward for AMS, Market News and for the markets and producers that use our data every day.

MARS was formally unveiled during the recent USDA Agricultural Outlook Forum.  It includes the ability to capture livestock auctions for commodities like feeder cattle and will eventually include more than 600 commodities in real time (where applicable), and moves reporter’s data capture from the paper age to a connected digital age.  That means a reporter at a livestock auction in, for example, Kansas will know in real time what comparable feeder cattle is selling for at an auction in Texas.

The Census of Agriculture is the most complete account of U.S. farms and ranches and the people who operate them. Every Thursday USDA’s National Agricultural Statistics Service will highlight new Census data and the power of the information to shape the future of American agriculture.

When it comes to potatoes, Idaho is #1. Results of the 2012 Census of Agriculture confirmed it. According to the census, Idaho farmers led the United States in acres of potatoes harvested, at 345,217 acres. And believe it or not, this was done by only 794 farms. On these farms, 58 percent of the potato harvested acres were for the fresh market and 42 percent were for processing.

Of course, the other parts of our agriculture are no small potatoes either. Overall, in 2012 we had 24,816 farms in our state, and our farmers sold more than $7.8 billion worth of agricultural products. Nearly a third of that amount – $2.3 billion – came from milk sales. Only three states, California, Wisconsin, and New York, had more milk sales than Idaho. Idaho’s Gooding County ranked fourth in the nation for milk cow inventory. The 2012 census counted nearly 179,000 head of milk cows there.

The Census of Agriculture is the most complete account of U.S. farms and ranches and the people who operate them. Every Thursday USDA’s National Agricultural Statistics Service will highlight new Census data and the power of the information to shape the future of American agriculture.

Utah agriculture is varied and prevalent across the state. The 2012 Census of Agriculture showed that our farms and ranches occupy 10.97 million acres of land, or more than a fifth of the total land in Utah.

In 2012, our state’s farmers sold more than $1.8 billion worth of agricultural products, with one-third in crop sales and two-thirds in livestock and poultry and their products. In contrast to sales, farm and ranch expenses totaled almost $1.6 billion with feed and labor being the two highest expenditures.  According to a survey done by Utah State University in 2012, when multiplier effects are included, agricultural processing and production account for $17.5 billion in total economic output in our state.

The 2012 Census of Agriculture results are out and, just as many predicted, Ohio continues to grow agriculturally. True to our rich history, the Buckeye State is a large contributor of corn, soybeans, winter wheat, milk, hogs, poultry, and floriculture and nursery. And that is just a few of our many commodities produced in Ohio.

According to the census results, there are 75,462 farms (ranking 7^th nationally) on 13,960,904 acres of farm land in Ohio. Even though 2012 was a drought year, Ohio ranked 13^th nationally in total sales by topping $10 billion, a whopping 42 percent increase from just five years ago, which was the last time my agency conducted the Census of Agriculture. We also ranked 10^th nationally in crop sales with just under $6.6.billion and 20^th nationally in livestock sales with just under $3.5 billion.