Ag Industry Trends & Outlooks

Natural resource-based businesses, like farming, fishing, forestry, and food manufacturing do more than provide food, fiber, building materials, ornamentals and other goods. They are economic engines in their communities, providing jobs and financial impacts throughout the region. In a new report, Farm Credit East, in collaboration with researchers at Cornell University, examines the economic impact of these industries in New England, New York and New Jersey.

This month's Knowledge Exchange Partner highlights a series of Industry Snapshots, compiled by Farm Credit East's Director of Knowledge Exchange, Chris Laughton. In addition to a summary of the national economy, northeast farm economy sectors such as dairy, timber and forest products, cash field crops, livestock, fruit, vegetables, greenhouse and fishing are included.

Farm Credit East's 2023 Northeast Dairy Farm Summary and 2024 Mid-Year Outlook contains data and analysis from the prior year and forward-looking discussion and analysis from Corey Geiger, Lead Economist for Dairy at Farm Credit East's funding bank, CoBank. 

There have been a number of structural shifts in our industry that appear to have some staying power. It’s important to gain a better understanding of these changes to implement on-farm strategies to capitalize on the market opportunities.

The United States is the world’s largest agricultural exporter and has been for decades. However, as a wealthy country with a population of more than 340 million people with appetites for a broad range of agricultural products - we are also one of the world’s top agricultural importers. American Farm Bureau Economist, Betty Resnick examines historical trade data, and insight on forecasted trends.