Ag Economy

As part of the National Ag Day Celebration this week, the National Association of State Departments of Agriculture released its annual Feeding the Economy Report.  The data shows food and agriculture industries and their suppliers contribute over $8.6 trillio...

The Purdue University/CME Group Ag Economy Barometer dropped five points to 125 in February.  Farmers’ perspectives regarding both current conditions on their farms and their expectations for the future also weakened during the month.  The Index of ...

The Ag economist for the Washington State Department of Agriculture says 2023 is shaping up to be a good year for the farm economy across the Evergreen state.  Madi Roy says the Washington farm economy is fairly stable right now, but many are proceeding with caution.  One of ...

There are several reasons behind the USDA forecasting a 21% drop in net cash income for farmers this year, but one of the more obvious reasons is the roughly 34% drop in government payments.  USDA chief economist Seth Meyer said 2023 will mark a couple of years in a row of direct government payments declining.  Meyer s...

As the debate over a capital gains tax in Washington continues, it’s looking more and more likely that the farming community will be subject to those taxes, despite earlier assurances that they wouldn’t be.  At issue is the constitutionality of the capital gains tax passed by lawmakers in April 2021, that looks to issue a 7% tax on all transactions of $250,000 or great.  The issue is curren... Rea

George Dress, Washington FFA’s Vice President, says those outside of farm country don't appreciate how important the Ag sector is to the overall Washington economy.     If you have a story idea for the PNW Ag Network, call (509) 547-9791, or e-mail glenn.vaagen@townsqua...

The Farm Workforce Modernization Act awaits Senate action during the lame-duck session, and many in the farming community say this legislation is the closest meaningful immigration reform has come to the finish line in years.  Research by David Bier, Cato Institute associate director of immigration studies, said s farmers would save billions over the next few years if the Senate passes the legisla

Farm loan interest rates increased sharply during the third quarter.  The Federal Reserve Bank of Kansas City said despite the high borrowing costs, farm real estate values continued higher.  However, the rate of increase slowed in the quarter.   Follo...

The Creighton University Rural Mainstreet Index fell below growth-neutral for the sixth-consecutive month.  On a scale of one to 100, with 50 representing growth neutral, the Economic Confidence Index plummeted to its lowest level since 2020.  Almost ...

Farming is a multi-billion-dollar industry for the state of Washington, but Dan Newhouse says more ag business can be done in the Evergreen state.  The central Washington representative said there’s a lot of potential for growth and future development, such as the recent ground breaking of Darigold’s million-dollar facility outside of Pasco.  Newhouse says to en...