Source: AgriLife Today
Dr. Steve Amosson, Texas A&M AgriLife Extension Service economist in Amarillo, was only one person who talked about 2016 commodity markets during the recent Amarillo Farm and Ranch Show, but the message was the same, regardless of meeting or speaker.
Abundant carryover stocks, both domestically and globally, along with a flat demand due to dependence on exports and the strength of the dollar currently were the basis of the expected lower prices, the speakers said.
Dr. John Anderson, American Farm Bureau deputy chief economist from Washington, D.C., said the markets are in a transition phase.
Anderson said the net farm income is down more than 50 percent from two years ago, requiring a big adjustment and one that must take place in a different policy environment.