World Perspectives

Farm Income Getting Squeezed by Input Costs

The House Agriculture Committee will hold a hearing on Thursday to Review the State of the Rural Economy. This is an annual hearing, and the sole witness will be Agriculture Secretary Vilsack.   According to USDA, net farm income in 2021 was $116.3 billion. That is the highest since 2013 and almost double farm income in 2016.   The increase in farm income was mostly driven by prices. Of course, there are two drivers of gross farm cash receipts: the price of commodities and the volume of commodities. Holding volumes constant from 2020 to 2021 and accounting for only price increases results in increased income of $63.3 billion. Holding prices constant from 2020 to 2021 and accounting for only volumes results in $0.2 bi...

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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.

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