Gary Wright, Farm Management Specialist
Ag Census. On February 13, the USDA announced the release of the 2022 Census of Agriculture. The publication and survey, which is released every five years, provides the only source of uniform, comprehensive, and impartial agriculture data for every county in the nation.
Through the Census of Agriculture/Iowa, equaling approximately 800 pages of texts and tables, producers can show the nation the value and importance of agriculture and can influence decisions that will shape the future of U.S. agriculture.
The Highlights/Farm Producers and Highlights/Farm Economics offer the following factoids, when compared to 2017:

• US Producers/Number of Farms – 3.37 million producers (slightly reduced from 3.4 million) contributed to a declining number of farms (2,042 to 1,900); average farm size 463 acres (up 5 percent); 39 percent of all U.S land;
• State of Iowa Age/Race/Gender – Recent five-year trends showed continued aging (average of 58.1 years) made up of mostly white (95 percent) farmers and ranchers; women (50,263, up 1200) made up 33 percent of the total number of producers;
• Value of Production – U.S. ag output totaled $543.1 billion, an increase of $154.6 billion, just short of a 40 percent increase since 2017; State of Iowa agriculture ranked second in total ag sales and top commodities to California and Texas, respectively for all commodities; and
• Net Farm Income (NFI) – As has been reported elsewhere, NFI has been at record levels during 2022-23; all U.S. farms show a 72 percent increase since 2017.
  When compared to national and state of Iowa data, Northwest Iowa trends were very close to the national numbers. For an extensive analysis of national, state and county data, visit http://www.nass.usda.gov/agcensus.
  Market Outlook. Ag commodity market prices are best described as a declining trend. Based upon the most recent WASDE release on March 8, 2024:
• Corn: For 2024-25 crop, current projected per bushel season average price $4.75 (nickel off last year average; down $1.79 from 2022 crop year). Lower Ukraine production, partly offset with Brazil increases.
• Soybeans: For 2024-25 crop, per bushel season average price of $12.65 (same as last year average; down $1.55 from 2022 crop year). Lower South American production, and higher China imports; and
• Protein: Slightly higher prices in beef, pork, poultry and dairy, and overall operating margins tighter due to production costs.
  For more extensive information, visit https://www.usda.gov/oce/commodity/wasde/wasde0324.pdf.
  Also, with a La Niña weather pattern likely returning, the potential for consistently leaving persistent drought patterns is there (https://droughtmonitor.unl.edu/CurrentMap.aspx).
  2024 Crop ARC/PLC Decisions. Because of the escalator provisions in the extended farm bill, the reference prices for corn and soybeans were increased to $4.01 and $9.26 per bushel, respectively. Producers will be faced with the critically important 2024 Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) decisions. ISU Extension and Outreach (Dr. Alejandro Plastina) has historically updated the decision tool for prices and yields. It is the assumption of price and yield combinations that determine the right decision. Producers can visit Ag Decision Maker (https://www.extension.iastate.edu/agdm/) to make their yield and price assumptions, and view the ARC-CO and PLC payment projections for best decisions on/before March 15. As always, please contact me with any questions or feedback at gdwright@iastate.edu or 712-223-1574.