USDA Forecasts Farm Exports to Hit a New Record in 2021

Summer Ag Exports 060121

Demand for pork and grains is helping propel prices in 2021, and USDA is forecasting it to be a record year. 

USDA thinks farm exports could hit a new record for fiscal Year 2021. The agency expects $164 billion in exports for 2021. That would be the highest on record, and up 21%from last year's total. If the forecast hold true, the 2021 farm export total would beat the previous record set in 2014.

USDA says the drivers behind the surge include a record outlook for China, which is expected to be the number one customer buying some $35 billion dollars in exports. USDA says sharply higher commodity prices and reduced foreign competition is also driving the increase.

Tags

Trade Retail Industry
 

Latest News

Beef Production
Markets: Cash Cattle Rebound, Futures Notch Four-Week High
Markets: Cash Cattle Rebound, Futures Notch Four-Week High

After a mostly sluggish April, market-ready fed cattle saw a solid rally in the North and steady money in the South. Futures markets began to look past the psychologically bearish H5N1 virus news.

Greg Henderson
Ag Policy
APHIS To Require Electronic Animal ID for Certain Cattle and Bison
APHIS To Require Electronic Animal ID for Certain Cattle and Bison

APHIS issued its final rule on animal ID that has been in place since 2013, switching from solely visual tags to tags that are both electronically and visually readable for certain classes of cattle moving interstate.

Greg Henderson
Industry
How Do Wind, Solar, Renewable Energy Effect Land Values?
How Do Wind, Solar, Renewable Energy Effect Land Values?

“If we step back and look at what that means for farmland, we're taking our energy production system from highly centralized production facilities and we have to distribute it,” says David Muth.

Margy Eckelkamp
Beef Production
Ranchers Concerned Over Six Confirmed Wolf Kills in Colorado
Ranchers Concerned Over Six Confirmed Wolf Kills in Colorado

Six wolf depredations of cattle have been confirmed in Colorado from reintroduced wolves.

Maggie Malson
Beef Production
Profit Tracker: Packer Losses Mount; Pork Margins Solid
Profit Tracker: Packer Losses Mount; Pork Margins Solid

Cattle and hog feeders find dramatically lower feed costs compared to last year with higher live anumal sales prices. Beef packers continue to struggle with negative margins.

Greg Henderson
Beef Production
Applying the Soil Health Principles to Fit Your Operation
Applying the Soil Health Principles to Fit Your Operation

What’s your context? One of the 6 soil health principles we discuss in this week’s episode is knowing your context. What’s yours? What is your goal? What’s the reason you run cattle?

Shaye Koester-Wanner
View More