Economy Resources
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AP 130-2-08
2024 Beef Cattle Outlook
1. The beef cattle outlook is positive in 2024. Tight supplies and stable consumer demand are expected to push cattle prices higher in the year ahead.
2. Risks come from the demand side if U.S. consumers are uninterested or unable to pay for higher-priced beef. Additionally, input cost uncertainty may squeeze margins.
3. Overall, beef cattle prices are expected to move higher year-over-year throughout 2024.|
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AP 130-2-07
2024 Poultry Outlook
1. The broiler chicken outlook in 2024 is neutral to positive; consumer demand should remain steady and feed costs should decrease.
2. Risks to the chicken outlook include significant HPAI outbreaks and expensive housing.
3. Baseline chicken prices are expected to be similar to 1-year-ago levels. Production uncertainty is the main driver of price uncertainty for 2024.|
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AP 130-2-12
Green Industry 2024
1. 2023 was a good year for many green industry firms, but not as good as 2020–2022.
2. The unknowns going into 2024 include higher inflation and interest rates, mixed signals within the economy, increased input costs, and variability in the housing market.
3. Green industry sales in Georgia are projected to be lower than 2023 levels.|
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AP 130-2-13
Timber Situation and 2024 Outlook
1. Demand for softwood lumber and structural panels is expected to improve as interest rates drop and single-family housing starts resume their long-term trajectory.
2. Increased softwood lumber mill capacity across the South adds upward pressure on pine sawtimber prices; however, the region’s oversupply of sawtimber trees on the stump is expected to exert strong downward pressure on prices.
3. Pulpwood prices are expected to decline (at a slower pace) and stabilize in the second half of 2024.
Forecast by Yanshu Li, UGA, Associate Professor and Forest, Economics, and Taxation Specialist; Joe Parsons, UGA, Director of the Harley Langdale, Jr. Center for Forest Business; Amanda Lang and Pat Jolley, Forisk Consulting|
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AP 130-2
2024 Georgia Ag Forecast
Each year, UGA’s agricultural economists develop a comprehensive overview to help various sectors of the agriculture industry navigate the year ahead. As Georgia’s land-grant university, the University of Georgia conducts cutting-edge research on critical and emerging issues that are important to the agriculture industry. From this research, UGA provides the best information and education available to producers and constituents to equip them with knowledge and decision-making tools for their businesses.
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AP 130-1-11
Timber Situation and 2023 Outlook
1. Inflation remains a persistent
challenge.
2. Housing activity is beginning
to moderate.
3. U.S. South softwood lumber
market share is increasing
along with production
capacity. Plentiful
timber supplies and capital
expenditures are positives. Authors of this section are Tyler Reeves and Amanda Lang, Forisk Consulting; and
Joe Parsons and Yanshu Li, Harley Langdale Jr. Center for Forest Business,
Warnell School of Forestry and Natural Resources, University of Georgia|
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AP 130-1-12
Green Industry 2023
1. 2022 was a good year for many green industry firms, with many firms
seeing increased profits.
2. There are many unknowns going into 2023 that will impact green
industry sales, including higher inflation and interest rates, mixed signals
within the economy, and the impact of varying strength of the housing
market in Georgia.
3. Green industry sales in Georgia are projected to be similar to 2022 levels.|
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AP 130-1-13
Georgia Agritourism, Tourism and Travel 2023
1. Visitor spending continues
to increase in Georgia’s rural
communities.
2. Total economic output for
accommodations and food
services in Georgia’s rural
counties increased 26.7% in
2021 compared to 2020.
3. Visitations to state parks
and outdoor recreation areas
in rural communities increased
24% in 2021 compared to
2020.|
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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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