Economics and Money
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AP 130-1-06
2023 Corn, Soybean, and Wheat Outlook
1. The Russia-Ukraine war and Mexico’s plan to ban genetically modified corn from the United States will increase uncertainty regarding corn prices. 2. The United States and the world will continue to have a tight wheat supply in 2023, supporting higher than average wheat prices. 3. The low ending stocks of U.S. soybeans indicate the need for more soybeans. Ending stocks might improve in 2023, leading to softer soybean prices.
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AP 130-1-07
2023 Beef Cattle Outlook
1. Severe drought elevated cow slaughter in 2022. With fewer cows to slaughter in 2023, cattle prices are expected to increase. 2. China could become the largest export destination for U.S. beef in 2023. 3. As per capita beef consumption grows, there also will be a growing interest in plant-based alternatives.
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AP 130-1-08
2023 Pork Outlook
1. 2022 U.S. pork prices continue to increase because of the limited number of slaughter-ready pigs. 2. Good outlook for 2023 as feed prices likely decrease and export demand increases.
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AP 130-1-09
2022–2023 Commercial Poultry Outlook
Author: Dennis Brothers, Associate Extension Professor, Auburn University, Agricultural Economics and Rural Sociology. 1. The domestic chicken market is strong with a good supply in the short- to midterm, though highly pathogenic avian influenza (HPAI) continues to loom large in the United States and could be a major impact in 2023. 2. High building costs an increasing interest rates are obstacles to expansion on the live side. 3. Future changes to the contract-grower pay model could be beneficial to growers, but caution is warranted. 4. HPAI and California Proposition 12 ruling likely to have an impact on future table egg prices.
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AP 130-1-10
Honey Bees 2023
1. Honey production overall for 2022 was below average for the state. However, in some regions yields of two types of honey, northern wildflower and sourwood, were above average. 2. Colony losses for commercial operations were higher than 2021, with some reporting a 60%–70% loss, and backyard beekeepers in some cases experiencing losses above 80%. 3. Varroa destructor (parasitic mites) remains the leading cause of colony loss in Georgia and nationally. 4. Demand for packages, nucleus colonies, and queens were down for 2022.
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AP 130-1-03
2023 Cotton Outlook
1. Reduction in consumer demand for cotton related products will suppress cotton prices in 2023.
2. U.S. cotton acreage and production likely will decline in 2023 because of lower relative-price expectations with competing crops.
3. The cotton production profit margin likely will be lower in 2023 with high input costs and low cotton prices.|
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AP 130-1-04
2023 Fruits and Tree Nuts Outlook
1. The three major U.S. peach-producing states experienced a significant fall in production which cumulatively reduced our 2022 production by 15%. Since it is difficult to predict whether the weather and water shortage that contributed to the decrease in production will persist, chances are that the situation may improve in 2023, but not by much. 2. The significantly high price received by peach and orange producers was instrumental in maintaining a strong consumer price index in 2022. The producer price index is expected to stay strong in 2023. 3. In 2023, blueberry imports from Chile, Peru, and Mexico will continue to increase—domestic harvests only get into the market beginning mid-March, and total production is not enough to satisfy high domestic demand. 4. Georgia pecans will continue to dominate the tree-nut industry in the 2023 crop year and prices are expected to improve, especially if China increases it imports of U.S. pecans.
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If you need a particular type of insurance, it is better to have it even if you never use it. The hard part is knowing the difference between insurance you need and insurance you are better off without. Many people purchase insurance without knowing whether they need it or not. Unless you fully understand insurance, you may be wasting money on insurance products you don’t need.
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C 1110
Before You Invest
Saving and investing are critical steps to achieving your financial goals. Although these terms are often used interchangeably, they are quite different. Understanding the differences between saving and investing is the first step toward reaching your financial goals.
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