Economics and Money

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  • AP 130-3-02

    2025 Georgia Agriculture Outlook

    1. Food price growth in 2025 is projected to align with inflation at around 2.5%, although prices for food consumed away from home are expected to remain higher than those for food consumed at home. Commodity prices are forecast to trend downward in the near term, with stability anticipated in the medium term.
    2. According to the most recent USDA farm income forecast, declining crop prices are expected to outweigh revenue gains from animal products, combined with slightly reduced input costs, leading to lower national net farm income in 2024.
    3. USDA projections indicate a decline in net farm income of 4.1% in nominal terms and 6.3% in inflation-adjusted terms nationally in 2024. However, these projections will not apply to Georgia because of the significant damages caused by Hurricane Helene, which resulted in lost output and infrastructure.
    4. Looking forward to 2025 and beyond, numerous geopolitical risks combined with various proposed policies—including tariffs and retaliation, immigration controls, tax policies, energy strategies, and inflation-targeted monetary policies—contribute to ongoing uncertainties surrounding U.S. and Georgia agricultural economic outcomes.

    Gopinath Munisamy

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  • AP 130-3-03

    2025 Inputs and Production Expenditures Forecast

    1. U.S. farm production expenditures declined by a moderate 4.1% in 2024 compared to 2023, but remained elevated relative to recent decades, totaling $453.9 billion.
    2. Forecasted U.S. farm production expenses for 2024 show increases in labor, livestock/poultry purchases, and property taxes/fees, along with reductions in feed purchases, fertilizer, pesticides, and fuel/oil.
    3. In 2025, we expect relatively stable total production costs as reductions in categories such as interest on operating capital and fertilizer are expected to be mostly offset by increases in categories such as labor and custom operations.

    Guy Hancock

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  • AP 130-3-04

    2025 Georgia Broiler Industry Forecast

    1. The outlook in 2025 for the Georgia broiler industry is one of cautious optimism.
    2. The significant risk is market fundamentals—will production growth overshoot demand and cause prices to fall?
    3. Other areas to watch include relatively low exports, animal protein price competitiveness, and potential grower-contract regulations.

    William Secor

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  • AP 130-3-05

    2025 Georgia Beef Cattle Forecast

    1. The 2025 outlook for the beef cattle sector is positive with low supplies meeting high demand to create elevated prices.
    2. In the near term, the higher risk appears to be beef demand—because of likely high beef prices and ample animal protein competition in the year ahead.
    3. Herd rebuilding indicators should be watched carefully as the cattle cycle may be approaching its next low in 2025.

    William Secor

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  • AP 130-3-06

    2025 Georgia Dairy Forecast

    1. The Georgia dairy forecast for 2025 is steady to positive.
    2. Key uncertainties come from the balance of supply and demand and potential federal order reform.
    3. Highly pathogenic avian influenza (HPAI) and export risks may also play a role in the year ahead.

    William Secor

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  • AP 130-3-07

    2025 Cotton Outlook and Market Situation

    1. Cotton prices are anticipated to stay low in 2025, driven by sluggish global economic growth, declining consumer demand, and rising trade uncertainty.
    2. U.S. cotton acreage and production are likely to remain at current low levels in 2025 because of relatively weaker price expectations compared to competing crops.
    3. Cotton production in 2025 is expected to face limited opportunities for profitability recovery, constrained by high input costs and low prices.

    Yangxuan Liu

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  • AP 130-3-08

    Peanut Situation and 2025 Outlook

    1. Peanut-planted acres in the United States and Georgia are expected to remain steady at current levels in 2025.
    2. Forward contract prices in Georgia are projected to decline, with an estimated seasonal price range of $475–$525 per ton.
    3. Peanut profitability is anticipated to remain a significant challenge for producers in 2025.

    Yangxuan Liu

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  • AP 130-3-09

    2025 Corn, Soybean, and Wheat Outlook

    1. Tight margins are expected to continue in 2025 for corn, soybeans, and wheat with commodity prices likely near or below the breakeven cost of production.
    2. Bountiful grain and oilseed production, combined with a strong U.S. dollar and uncertain trade policy, leads to expectations for lower prices in 2025.
    3. Expect more acres planted to corn, fewer acres planted to soybeans, and wheat plantings comparable to last year.

    Amanda Smith

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  • AP 130-3-10

    2025 Fruits and Tree Nuts Outlook

    1. Blueberries will continue to lead the Georgia fruits and tree nuts industry in 2025 and subsequent years despite the damage from Hurricane Helene, which is expected to reduce production and yields.
    2. The Georgia pecan industry will take several years to recover from the effects of Hurricane Helene, and this natural shortage will keep prices strong.
    3. Overall, consumer and grower price indexes will remain strong in 2025.

    Esendugue Fonsah

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