USA chief economist Seth Meyers says most crops are projected to generate less income this year, but a few crops may buck that trend.
“Even fruits and nuts a little bit, you know, there are some differences here. So for specialty crops, we actually see a little bit of an increase in the forecast for cash receipts into 2024. So even within the crops, I think we’ve got to distinguish between corn, soybeans, kind of, and wheat, kind of the the Midwestern row crops not faring well. Cotton faring very poorly in terms of cash receipts. And then other things like some of the specialty crops either not seeing as big a declines or even some improvements. So from the specialty crop side, faring better than some of the other row crop and cotton production.”
That is USDA chief economist Seth Meyers who says, as a matter of fact, cotton took the biggest hit when it came to cash receipts in 2024, according to USDA data.
I’m Lorrie Boyer reporting for AgNet West.