CoBank predicts the U.S. economy will slow through the first half of this year and inflation is expected to diminish. However, this also means crop and livestock prices that producers receive could be weaker.
Rob Fox, director of the Knowledge Exchange Division with CoBank, says, “As those geopolitical concerns kind of simmer down and, assuming we don’t have any nature droughts in the world in the coming year, which is a big assumption, we’re looking at crop prices to come down quite a bit, meaning 2023 should be a fairly decent year, you know, profitable, but not at those near-record levels.”
When it comes to input costs, CoBank expects many of those prices to ease within the near future.
Related Stories
“For producers, the retaliation is the big threat...
Public support for producer payments is strongest for natural disasters, according to a recent study
“We find lots of public support when there is a natural disaster, but maybe a little bit less when people think prices are too low.”
