The ag community is closing 2024 on a challenging note. According to the most recent Ag Economists’ Monthly Monitor, more than 80% of those surveyed agree the U.S. ag economy is close to a recession. More than 50% of those surveyed believe the recession is already happening. As expected by economists, commodity prices were low and interest rates were high this year. Both conditions contributed to the potential recession, as did a highly contagious outbreak of H5N1 avian flu among dairy herds.

The survey also asked ag economists to share topics they expect will impact the ag economy in the new year, focusing on those underrepresented in media coverage. Their answers varied, covering everything from potential policy changes (both positive and negative for the ag community) to regional farm income.

Read the full list of their responses here.