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USDA Economist Predicts Positive 2021, But With Uncertainties

The 2021 ag outlook is “positive” but with “uncertainties,” according to USDA Chief Economist Seth Meyer. Meyer spoke at this year’s virtual Ag Outlook Forum hosted by USDA, where he focused on “Building Innovation: a Pathway to Resilience.”

With USDA now forecasting fiscal ’21 exports at 157 billion dollars…

But Meyer says this year is also marked by uncertainties in disposable incomes, consumer demand, supply chains, shipping container costs and more…

With big impacts on volatile dairy prices and fruits and vegetable demand. However, Meyer predicts farm receipts and income will rise, notably in the Midwest with its staple crops and livestock, helping replace government payments.

 


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