Source: University of Missouri
If the farm economy benefits from the recovering general U.S. economy, the livestock sector is expected to lead the agricultural economy to higher net farm income.
That analysis tops a 2010 baseline report prepared by the University of Missouri Food and Agricultural Policy Research Institute (FAPRI). The 66-page report was delivered to the U.S. Congress on March 9. The 10-year baseline shows economic possibilities for livestock, crops and biofuels under certain assumptions.
"If jobs and consumers return, the agricultural sector will benefit," said Pat Westhoff, co-director of MU FAPRI. "Higher incomes increase the demand for food, feed, fiber and fuel, supporting farm commodity prices."