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2024 Agricultural Commodity Prices and Market Outlook 

Trimble Agriculture

Lower agricultural commodity prices are contributing to a decline in net farm income in 2024. This, combined with higher input costs, fewer government payments, and rising interest rates, is leading to a drop in net farm income. In 2024, net farm income is predicted to follow a similar pattern of decline.

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USDA Will Implement Long-Awaited Change to Country-of-Origin Labeling Rules

Daily Yonder

A long awaited rule that changes which meat and poultry goods can bear the label “Product of U.S.A.” and therefore they’ll be able to sell more beef,” said Marty Irby, board director and secretary for the non-profit research group Organization for Competitive Markets. “We From 2022 to 2023, net farm incomes dropped by $41.8

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FAPRI outlook shows downward shifts in farm income, commodity prices

Todays Farmer Magazine

FAPRI’s report shows prices for many farm commodities have fallen sharply from 2022 peaks and will likely decline further for crops harvested in 2024 and beyond. As a result, net farm income is expected to hit the lowest level since 2020. Hog, poultry and milk prices all declined in 2023 as demand weakened. .

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Industry Ag News 1/10

Agwired

Bicameral Agriculture Democrats responded with a letter that same day to USDA and the Office of Management and Budget, conveying the need to make additional funding available to producers via the Marketing Assistance for Specialty Crops (MASC) program. Department of Agriculture Secretary Tom Vilsack and U.S. Keystone Cooperative, Inc. ,

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FAPRI forecasts falling prices for producers

Todays Farmer Magazine

For 2023, an assumed return to more normal conditions results in projected declines in commodity prices, farm income and food price inflation, according to the latest U.S. Agricultural Market Outlook from the Food & Agricultural Policy Research Institute at the University of Missouri. in 2023 and under 2% in 2024.

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A Deep Dive on the Senate’s Farm Bill Proposal: the Rural Prosperity and Food Security Act of 2024

National Sustainable Agriculture Coalition

Creating a Farmer Seed Liaison position in the Agricultural Marketing Service (AMS), whose responsibilities include strengthening competition and choice in the seed marketplace (Sec. Provides $5 million in mandatory funding for Organic Production and Market Data Initiatives, to remain available until expended (Sec. 12103, 7124).

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