Today’s Harvest Blog

The following report utilizes data from the U.S. Apple Association’s monthly storage survey (USAppleTracker) along with publicly available data on movement, trade and prices to unpack the season to date and see how markets are reacting to, what is by all accounts, a banner year.

In this year’s Maple Industry Outlook, Mark Cannella, Associate Professor with the University of Vermont Extension, gives insight into the maple industry in the U.S. and Quebec, including important financial market factors, climate concerns and crop volatility, and a strategic outlook for the year ahead.

Last year saw a marked decline in milk prices from 2022. Feed and fuel costs declined to a lesser extent, but many other expenses increased, reducing margins for dairy producers. Farm Credit East and Crop Growers crop insurance recently hosted a webinar to provide a 2024 outlook for the Northeast dairy industry. 

Between rate increases, tightening inventories, market volatility and the rising cost of inputs, the agricultural equipment and financing landscape is entering a distinctly different environment following years of unprecedented demand and high farm profitability. As we head into year-end, here are the major themes and factors impacting machinery purchases, financing activity and overall buyer sentiment.