Agriculture Uncertainty

The agriculture industry in the U.S. is dealing with a lot of uncertainty. Falling prices and trade wars top the list. We expect our exports to grow faster than our imports. However, for 3 years in a row, that has not been happening. We are losing ground. Looking to 2019, pork exports are expected to decline by $300 million and beef by $100 million.A little bit of good news – poultry will be up slightly, and also wheat. Net farm income is forecast to drop $9.8 billion. Pulling everything down more than anything else – you guessed – soybean exports, which are expected to drop $800 million.Yes – the trade war has been very disruptive for our industry. But part of the price decline problem is self-inflicted. We are expecting a record crop of corn and soybeans. Our feed lot supplies of beef have jumped up almost 8%. Hog numbers are up 3.4%. Who is going to consume all of this food if we can’t expand exports?