Ag Resource Management Survey and World Food Prices Drop in December

Ag Resource Management Survey and World Food Prices Drop in December

Bob Larson
Bob Larson
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.

**The USDA’s National Ag Statistics Service is gathering information about farm economics and production practices, as they conduct the third and final phase of the 2023 Ag Resource Management Survey. reports, NASS will reach out to more than 40,000 producers nationwide, including 4,700 in Alabama, Florida, Georgia, and South Carolina between now and April.

The 2023 survey includes versions focused on oat and peanut sector costs and returns.

**The U.N.’s Food and Agricultural Organization says world food prices dropped in December.

The Food Price Index, which tracks monthly changes in the prices of globally traded commodities, averaged 188.5 points in December, down 1.5% from November and 10% lower than December ‘22.

For 2023, the index was 13.7% lower than the average value of 2022, with only the international sugar price index higher during the period.

Cereal, Vegetable Oil and Meat Price Indices all dropped.

**The Farmers National Company says the farmland market seems to be moving into the new year maintaining the value increases it’s built during the last three years.

That stability is in place despite increasing pressure from declining commodity markets, rising interest rates, and inflation.

The sharp increase in land values last year, driven primarily by strong commodity markets, has slowed but the value is holding steady.

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