USDA’s Chief Economist says the ag economy remains strong, but volatility will likely continue through 2023.
Seth Meyer says there’s been an increase in farm income despite tighter margins. “Again, I don’t think it reduces the anxiety that now as I start buying inputs and planning for next year’s crops, input prices remain very, very high. We’ve got a lot of volatility on output prices, but can we sustain these levels of output prices?”
But, he tells Brownfield, there is some price support in the commodity markets for next season, which might help offset inputs.