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U.S. Department of Agriculture
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USDA Agricultural Projections for 2009-18, released in February 2009, provides longrun projections for the farm sector for the next 10 years. These annual projections cover agricultural commodities, agricultural trade, and aggregate indicators of the sector, such as farm income and food prices. Key results in the projections include: Prices for corn, oilseeds, and many other crops remain well above their historical levels, although season-average annual prices are not projected to reach the record highs seen in the first half of 2008. Over the next several years, the livestock sector continues to adjust to higher feed prices seen in 2007 and 2008. Although net farm income initially declines from the highs of 2007 and 2008, it remains historically strong and rebounds to near-record levels in the latter part of the projections. U.S. retail food prices increase more than general inflation through 2011, but return to the longer term relationship of rising less than the general inflation rate over the remainder of the projection period.
