Ag Industry Trends & Outlooks

Crop Growers, the insurance provider of Farm Credit East, provides coverage for reduced quality and production of crops resulting from hail events, giving acre-by-acre protection that can cover up to the full value of the crop.

After a rapid rise in 2021 and 2022, the Farm Credit East Production Cost Index has plateaued after relatively modest increases over the previous decade.  This index tracks farm production costs on a relative basis, weighted towards costs that affect Northeast producers most. Major components of the index include labor, energy, family living expenses, crop inputs, as well as costs like animal feed and other dairy-related expenses, given that sector’s prominence in our region.

2023 had surprising results after a seemingly poor growing season. U.S. farmers are currently facing increasing export competition in a declining price environment. What will this mean for producer margins in 2024?

2023 was a challenging year for wood products markets. Rising interest rates hampered demand while capacity ramped up across the south. Paul Jannke, a forest industry expert with Forest Economic Advisors (FEA), recently presented his perspective on the region’s forest product markets and economic outlook.