USDA released the latest Census of Agriculture today. Typically, the release is every five years, so this is the 2022 census, updated from 2017. The response rate to the 2022 census was 61 percent; in 2017 it was 72 percent. Total farm sales in 2022, a year of record farm income, were $543 billion, up 39 percent from 2017, with 19.4 percent of that accounted for by inflation. Reflecting changes in the market and updates from the 2018 farm bill there were new questions added to the survey, including the use of precision agriculture and hemp production. However, a big takeaway is that the same trends held course, such as consolidation and aging of farmers, over the past five years. For example, there were 105,384 farms wi...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
From WPI Consulting
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.