The U. S. Department of Agriculture (USDA) released new 10-year agricultural projections on Feb. 11, 2013.
USDA publishes the projections each year in February. The projections are developed by interagency committees in USDA, with the Economic Research Service (ERS) having the lead role in the preparation of the report. The new projections cover crop and livestock commodities, agricultural trade and aggregate indicators, such as farm income and food prices, through 2022. The projections do not represent a USDA forecast, but a conditional, long-run scenario based on specific assumptions about farm policy (including extension of current farm law through 2022), weather, the economy and international developments. Normal weather is assumed throughout the projection period.