Policy makers, economists, the farm and food industry, consumer advocates, and others rely on USDA’s food price outlook and farm sector income and finances data in their decision making and planning. At this year’s Forum, two sessions focus on these closely watched USDA forecasts and present the latest analysis and projections.
A session on the Farm Income Outlook for 2015 focuses on general measures of the financial well-being of the farm economy. The analyses and data released by the Economic Research Service (ERS) and used by USDA and others in both the public and private sector provide insights about the financial health of the U.S. agricultural economy. Financial performance measures assess the farm sector’s receipts and expenses; net income; variations in farm income by farm size and other categorizations; and changes in the sector’s wealth holdings. ERS estimates and forecasts of farm income and wealth are based on information collected across USDA and other parts of government, as well as responses to USDA’s annual Agricultural Resource Management Survey (ARMS) and other sector-level information. Read more »
The Economic Research Service examined why lower unemployment in the post-recession period was not matched by gains in food security among U.S. households. Photo credit: Shutterstock
This post is part of the Science Tuesday feature series on the USDA blog. Check back each week as we showcase stories and news from the USDA’s rich science and research portfolio.
USDA’s annual survey on food security among American households showed, not unexpectedly, that the prevalence of food insecurity increased during the 2007-09 recession. In the post-recession period, the highest monthly unemployment rate dropped from 10 percent in 2009-10 to 8.3 percent in 2012. But the rosier employment picture was matched by very little improvement in the level of food insecurity – i.e., households’ lack of consistent access to adequate food for active, healthy lives. The national prevalence of food security was 14.5 percent in 2012, essentially the same as in 2009 and 2010. What could be the explanation? Read more »
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Here’s what the Economic Research Service (ERS) has in store for the Agricultural Outlook Forum. We have arranged two afternoon sessions on Thursday, February 20. One will discuss farm income and the other the outlook for food prices.
The food price session, moderated by Michael McConnell of Informa Economics, will provide a perspective on food price inflation, the main factors that contribute to food price movements, and the implications for consumers in the United States and abroad. ERS economist Richard Volpe will present the latest outlook for retail food prices, recent trends in food expenditure patterns, and general-economy considerations. Another ERS economist, Ron Trostle, will discuss the volatility in commodity prices in recent years, and the impacts on food prices. And Keith Wiebe, Senior Research Fellow at the International Food Policy Research Institute (IFPRI), will address the implications of food prices for global food security. Read more »
A new academic year is here for millions of students and teachers across the country, and in spirit of the many back to school nights and open houses taking place, I’m encouraging you to explore USDA’s International Year of Statistics Virtual Open House.
The International Year of Statistics, sponsored by more than 2,000 organizations – including the USDA – is a worldwide event to help teach everyone about the powerful and far-reaching effects of statistics. When people hear the word “statistics,” they often think of sports statistics or the course they took and struggled to pass. While you can think of statistics in these terms, there is more to the relationship between you and statistics than you may imagine. Read more »
This is one of more than 75 charts and maps in Ag and Food Statistics: Charting the Essentials from USDA’s Economic Research Service, compiling a set of key statistics on the ag and food sectors and the rural economy. Each chart in the collection includes accompanying text.
This post is part of the Science Tuesday feature series on the USDA blog. Check back each week as we showcase stories and news from USDA’s rich science and research portfolio.
With the abundance of news and information on the food and agriculture sector, sometimes it is helpful to take a step back and look at the big picture. You might be a seasoned expert on food, agriculture, or the rural economy, or you may have just a general knowledge. In any case, there are a number of key indicators that will bring you up to speed on a range of basic questions.
How much, for example, do agriculture and related industries contribute to the U.S. economy? Which commodities are our main agricultural exports? What share of their household incomes do Americans spend on food? How do job earnings in rural areas compare with metro areas? How much of our Nation’s water does agriculture consume? Read more »
USDA’s 2013 Agricultural Outlook Forum, Feb. 21-22, in Arlington, Va., will host a morning of plenary session speakers on the opening day followed by 25 breakout sessions. The “Food Price Outlook” breakout session for 2013 will offer perspectives on food price inflation, the factors contributing to food prices, and the consumer implications.
In this session, Dr. Todd Davis, Senior Economist for the American Farm Bureau Federation, will discuss the link between this past year’s harvest and the prices consumers pay for food. Joining him will be USDA economist Richard Volpe explaining the relationship between food prices and inflation. Kurt Collins, Senior Director of Commodity Risk Management for Unified Foodservice Purchasing Co-op, will explore strategies the food industry is using to manage commodity price risks. The “Farm Income” session will focus on general measures of the financial well-being of the farm economy and farm households.
To learn more about the Forum, please visit our website.