WASHINGTON, Dec. 16, 2014–On Dec. 18, 2014, at 11:00am EST, the U.S. Department of Agriculture (USDA) will release selected tables from its upcoming USDA Agricultural Projections to 2024 report. USDA will post online tables containing long-term supply, use, and price projections to 2024 for major crops and livestock products, and will include supporting U.S. and international macroeconomic assumptions.
The USDA will release the complete USDA Agricultural Projections to 2024 report, as scheduled, on Feb. 11, 2015. The complete report includes a full discussion of the commodity supply and use projections, as well as projections for global commodity trade, U.S. trade value, and farm income.
The early-release tables will be posted to the Office of the Chief Economist's (OCE) website at www.usda.gov/oce. The tables will be in MS Excel format.
USDA's long-term agricultural projections are a departmental consensus on a long-term representative scenario for the agricultural sector for the next decade. The projections are based on specific assumptions about macroeconomic conditions, policy, weather, and international developments, with no domestic or external shocks to global agricultural markets. The Agricultural Act of 2014 is assumed to remain in effect through the projection period. The projections reflect a composite of model results and judgment-based analyses and were prepared during October through December 2014. The projections use as a starting point the short-term projections from the November 2014 World Agricultural Supply and Demand Estimates report.
Background on USDA's long-term projections and past issues of the report are available on the ERS website at www.ers.usda.gov/topics/farm-
