News Filed Under Agricultural Economics

STARKVILLE, Miss. -- Forest landowners in Mississippi can now join the state’s farm owners who suffered production loss due to last year’s drought in applying for federal emergency loans.

STARKVILLE, Miss. -- Producers should anticipate tighter profit margins in 2024 as agricultural commodity prices decrease and financing costs climb. However, experts expect the industry to be buoyed by its economic strength, which has grown 6% since 2021.

Mississippi’s poultry took an estimated 23% loss in value in 2023; though production was strong, a failure to meet the previous year’s record high prices was responsible for the hit. Poultry generated an estimated $3.1 billion to Mississippi agriculture in 2023, down from the $3.9 billion generated in 2022.

STARKVILLE, Miss. -- Agricultural specialists with Mississippi State University will share updates and forecasts for 2024 on the state’s largest industry during a conference in January.

RAYMOND, Miss. -- The favorable weather that kicked off planting season for Mississippi corn producers stayed in play throughout the growing season and is helping growers wrap up harvest. Mississippi producers planted 790,000 acres of corn, up from the 700,000 acres forecast just before farmers began planting in mid-March. The U.S. Department of Agriculture National Agricultural Statistics Service estimates 770,000 of those acres will be harvested for grain.

RAYMOND, Miss. -- In Mississippi, 230,000 residents lack access to high-speed internet and the many benefits it offers, but the Mississippi State University Extension Service is working to help change that. Devon Mills, an assistant Extension professor of agricultural economics, is leading an effort to build an inventory of all the organizations in the state working to promote digital skills and literacy. This effort, called the Mississippi Digital Asset Mapping Project, is helping spread the word about a survey to help construct that inventory.

STONEVILLE, Miss. -- Agricultural producers hoping for some relief from recent high fertilizer prices are not likely to find it in 2023.

Brian Mills, Mississippi State University Extension Service ag economist at the Delta Research and Extension Center in Stoneville, said fertilizer prices are expected to remain at 2022 levels.

“We do have good, high crop prices, and with high crop prices, you usually see input costs stay high and go up,” Mills said.

Mississippi agricultural producers shattered previous records in 2022 with an estimated $9.7 billion in production value based on high market prices that almost kept pace with higher production costs.

STARKVILLE, Miss. -- Poultry was already Mississippi’s top agricultural commodity before its overall value increased even more in 2022.

The estimated value of production for the state’s poultry in 2022 was $3.8 billion. This 48% increase over 2021’s record production value of $2.6 billion will rewrite the record books if these totals hold when the final numbers are released by the U.S. Department of Agriculture next April.

Mississippi State University is the lead partner on a $10 million grant from the U.S. Department of Agriculture to conduct climate-smart projects. Beth Baker, an Extension specialist in natural resource conservation in agroecosystems, is the lead investigator on the grant project announced Sept. 14

Most cotton in Mississippi got off to an excellent start in May, received the heat needed in June and July, and now is ready for sunny skies so growers can harvest a potentially above-average crop. The U.S. Department of Agriculture estimates 56% of the crop is in good or excellent shape, with another 38% estimated at fair. As of Aug. 28, bolls were opening on an estimated 25% of the crop.

Corn producers who risked current high input costs in hopes of reaping high market prices at harvest are now waiting for a series of warm, sunny days to complete planting. Will Maples, an agricultural economist with the Mississippi State University Extension Service, said high input costs and high market prices have presented challenges to growers trying to decide what crops to plant.

STARKVILLE, Miss. -- More than half of the 4.29 million total acres of row crops expected to be planted this year in Mississippi are soybean fields, but the growth in cotton acreage may be the most significant increase over 2021.

The National Agricultural Statistics Service, a branch of the U.S. Department of Agriculture, released its annual prospective plantings report March 31. Surveys are conducted with farm operators nationwide during the first two weeks of March to collect data on planting intentions for the upcoming season.

STARKVILLE, Miss. -- Two years have passed since the first cases of COVID-19 were confirmed in the U.S., but problems the virus caused in the country’s grocery supply chain could remain well into 2022, which will likely mean higher beef prices for consumers.

Josh Maples, an agricultural economist with the Mississippi State University Extension Service, said labor reductions caused beef shortages, which have increased the price of this commodity across the country.

High fertilizer prices continue to be a hot topic any time farm professionals gather, but now is not the first time costs have doubled or even tripled for some crop staples. Larry Oldham, soil specialist with the Mississippi State University Extension Service, said producers must plan around dramatically rising costs.

High commodity prices in 2021 pushed Mississippi agriculture to a sharp increase in total value -- a record estimated $8.33 billion -- despite a huge decline in government assistance aimed at coronavirus relief. Agriculture’s estimated value is up 19% from 2020.

Excellent commodity prices propelled Mississippi agriculture to its highest level: an estimated $8.33 billion value in 2021. This figure is a 19% increase over 2020. Poultry, soybeans and forestry continue to rank first, second and third, respectively, in the state’s agricultural economy.

STARKVILLE, Miss. -- An improved price environment for soybeans pushed the crop’s value of production to near record highs in Mississippi in 2021.

Soybean production grew about 25% from $1.2 billion in 2020 to $1.49 billion this year. It is Mississippi’s second largest agricultural commodity for the second straight year and by far the state’s most valuable row crop.

Will Maples, a row crops economist with the Mississippi State University Extension Service, estimated soybean prices to be up around 20% from 2020.

Most soybeans in Mississippi are having a good year to date, with 82% of the crop appearing in good or excellent shape past the midway point in the season.

Prices also look good, with averages above those of recent years.