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USDA to release 10-year predictions

Tuesday, February 9, 2010

The USDA is expected to release predictions on what the next 10 years holds for the agriculture industry.
The USDA is expected to release predictions on what the next 10 years holds for the agriculture industry.

Some who use farm equipment may be waiting in anticipation for a report from the U.S. Department of Agriculture.

The report will focus on 10-year predictions in the agricultural industry and will be released on February 11. According to the USDA, the report is published every year by the department in February.

"The new projections cover agricultural crop and livestock commodities, agricultural trade and aggregate indicators such as farm income and food prices through 2019," the USDA said.

Though the report does not represent an actual forecast from the USDA, it will highlight a scenario based upon assumptions made by contributing committees. Those assumptions include farm policy, weather, the economy and global developments. The 2008 Farm Act was also taken into consideration when making the 10-year predictions.

Though some farmers may be curious to know what the next decade will bring, others may be more concerned with the immediate future, especially with the current state of the economy and farm prices. Record corn and soy bean crops in 2009 led to a drop in prices, which could make it more difficult for producers to be able to afford things like farm equipment.
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