Ag Industry Trends & Outlooks

This month's Knowledge Exchange Partner article contributed by Dr. Christopher Wolf of Cornell University, reviews 2024 industry trends and discusses 2025 pricing projections and feed costs. It also explores potential impacts of weather risks, disease, and policy changes, including Federal Milk Marketing Order modernization and the extension of The Farm Bill, on farm milk prices and dairy policy.

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 dairy industry is inherently unpredictable, with market fluctuations, weather conditions, and production variables all contributing to an unstable income landscape for dairy farmers. Dairy Revenue Protection (DRP) is a valuable tool to mitigate these risks and provide a more stable financial footing.