Purdue Agricultural Economics Report

The Purdue Agricultural Economics Report (PAER) exists to serve and further the core mission of the department to engage with real world problems that are of value to stakeholders. The scholarship communicated in this publication will represent the department’s excellence in creative endeavor for new knowledge and its dissemination in the economics of agriculture and natural resources.

Recent Publication:

2022-01 Purdue Agricultural Economics Report: 2022 Annual Outlook Issue

January 13, 2022

Inflation and COVID-19 uncertainty are key issues impacting food prices, general economy performance, farm costs and returns, farm financials, and household economics.

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Articles:

General Economic Outlook – COVID calls the shots again
Publication Date: January 2022
Article ID: PAER-2022-1

Larry DeBoer, Agricultural Economics Professor Emeritus

Summary: Uncertainty over the course of the pandemic and the response by workers and businesses to inflationary pressures are expected to be the determining factors in what is likely to be slower GDP growth in 2022.
The Impact of COVID-19 on Households: Lessons for 2022?
Publication Date: January 2022
Article ID: PAER-2022-2

Author: Maria I. Marshall, Professor, Jim and Lois Ackerman Endowed Chair in Agricultural Economics

Summary: COVID-19 exposed how lack of childcare impacts households and employment.
Trade and trade policy outlook, 2022
Publication Date: January 2022
Article ID: PAER-2022-3

Author: Russell Hillberry, Professor of Agricultural Economics

Summary: While trade policy does not appear to be a major priority of the Biden Administration, it does affect many key objectives. One example is the supply chain problem, which may not be fully resolved in 2022.
How might the past four years of economic shocks inform the next Farm Bill agenda?
Publication Date: January 2022
Article ID: PAER-2022-4

Author: Roman Keeney, Associate Professor of Agricultural Economics

Summary: Payments to farmers have spiked the past four years from trade war and COVID assistance. Should the next Farm Bill expand its criteria for emergency assistance to wider economy shocks?
The Year of Food Price Inflation
Publication Date: January 2022
Article ID: PAER-2022-5

Author: Jayson L. Lusk, Distinguished Professor and Department Head of Agricultural Economics

Summary: Almost two years into the pandemic, concerns about empty grocery shelves have been replaced by concerns about higher food prices. Increases in wages in the food sector, rising agricultural commodity prices, transportation bottlenecks, and strong consumer demand have led to the highest annual grocery price increases in a decade and the highest annual restaurant price increases since the early 1980s.
Dairy and Milk Markets in 2021-2022
Publication Date: January 2022
Article ID: PAER-2022-6

Author: Nicole Olynk Widmar, Professor of Agricultural Economics

Summary: Total US cow numbers and milk production have declined in the second half of 2021 placing upward pressure on prices heading into 2022. Changes in consumption have been highly product specific and the discussions surrounding fluid milk consumption, especially among children, continue. Potential changes in preferences surrounding milk fat content in products are worthy of watching in the coming years.
2022 Purdue Crop Cost and Return Guide
Publication Date: January 2022
Article ID: PAER-2022-7

Michael Langemeier, Professor, Associate Director Purdue Center for Commercial Agriculture

Summary: Despite substantially higher production costs, it is not out of the realm of possibility to see positive margins in 2022, particularly for rotation corn and soybeans on high productivity ground.
Farmland Values and Cash Rent
Publication Date: January 2022
Article ID: PAER-2022-8

Author: Todd Kuethe, Associate Professor, Schrader Endowed Chair in Farmland Economics

Summary: Both land values and cash rents are likely to increase in 2022.
2022 Agricultural Credit Outlook
Publication Date: January 2022
Article ID: PAER-2022-9

Authors: Brady Brewer, Assistant Professor of Agricultural Economics; Todd Kuethe, Associate Professor, Schrader Endowed Chair in Farmland Economics

Summary: Low interest rates, low demand for loans, high repayment rates, and fund availability suggest agricultural credit markets well positioned for 2022
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The Purdue Agricultural Economics Report is a quarterly publication written by faculty and staff from the Department Agricultural Economics at Purdue University.

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