Oct 30, 2024

USDA to release agricultural projections on Nov. 7

The USDA will release selected tables from its “USDA Agricultural Projections to 2034” report on Nov. 7 at 3 p.m. These tables will provide 10-year projections for major U.S. crops and livestock products. The full report, expected in February 2025, will cover commodity supply, use projections, farm income, and global trade.

Known as the “USDA Baseline,” the projections assume current laws affecting federal spending and revenues will remain in place. They are not intended as predictions but serve as benchmarks for measuring potential impacts of new legislation or developments.

“The projections are designed to reflect how markets would evolve under current conditions,” said usda chief economist Seth Meyer.

The data will be posted on the Office of the Chief Economist’s website and added to the Economic Research Service’s Baseline database.

The report uses the October 2024 World Agricultural Supply and Demand Estimates report as its foundation. The USDA emphasizes that it does not predict global policy outcomes or external shocks such as extreme weather.

To learn more, visit www.usda.gov.