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USDA released new agricultural projections

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The U.S. Department of Agriculture (USDA) will release its 10-year agricultural projections on Feb. 11, 2015, at 11 a.m. EST. USDA's Agricultural Projections to 2024 will be posted to the Office of the Chief Economist's (OCE) website at www.usda.gov/oce and available in MS Word and PDF formats. Projections data will be available as Excel spreadsheets, as well. Selected tables from the projections report were made available on Dec. 18, 2014.

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, through 2024. The projections do not represent a USDA forecast, but a conditional, long-run scenario based on specific assumL tions about farm polic; weather, the economy am international developments, Normal weather is assumed throughout the projection; period. The projections were prepared during Octobgl through December 2014 anjp reflect the Agricultural Ajffl of 2014 Background on USDA's" long-term projections and past issues of the report an available on the ERS websiti at www.ers.usda.gov/topics/farm-economy/agricultural-baseline-projections.aspx.



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