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The report also noted that lower prices for farm inputs, such as fertilizer, partially offset the drop in commodity prices but not enough to avoid declines in farmers’ net returns. FAPRI’s annual outlook provides projections for agricultural and biofuel markets and serves as a point of reference for food and farm policy. .
The outlook summarizes baseline projections for agricultural and biofuel markets using information available in January 2023. Higher fertilizer, fuel and feed costs contributed to a sharp increase in farm production expenses in 2022. Cattle, hog, poultry and milk prices all increased in 2022.
Idaho Farm Bureau Federation Idaho Grain Producers Association Idaho Potato Commission Idaho Wool Growers Association IL Corn Growers Association Illinois Farm Bureau Illinois Fertilizer and Chemical Association Illinois Milk Producers Association Illinois Pork Producers Association Illinois Seed Trade Association, Inc.
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