La Nina Three-Peat and U.S. Cattlemen’s Annual Meeting
**USDA’s Economic Research Service forecasts inflation-adjusted U.S. net cash farm income to increase by $13.5 billion or 8.7% from last year.
Net cash farm income is gross cash income minus cash expenses and will reach $168.5 billion this year, the highest level since 2012.
But NET farm income is forecast to drop by almost $1 billion from 2021.
This after net farm income INCREASED by $44 billion last year, the highest since 2013.
**The World Meteorological Association says the La Nina weather pattern will last through the end of 2022.
That’s the first time this century it will have lasted for three consecutive winters in the northern hemisphere.
The conditions are affecting temperatures and precipitation patterns, making drought conditions and flooding in some areas that much worse.
The forecast shows this La Nina, which began in September 2020, continuing for the next six months.
**The U.S. Cattlemen’s Association invites everyone in the industry to its 15th Annual Meeting and Cattle Producer’s Forum in Nashville, December 8-10.
On Friday, December 9th, policy committees and members will review the past year’s successes and determine policy goals for next year.
With significant progress being made on cattle market reform legislation this year, the Annual Meeting will be a critical time to reflect and prepare for the next session of Congress.