Economy
Beef prices surge to record highs, yet profits remain elusive for cattle farmers
For the first time in history, the national average price for fresh beef moved above $8 per pound. Despite record prices and demand at the grocery store, cattle farmers still are vulnerable to market forces.
New report finds food and ag-related industries contribute over $9 trillion to U.S. economy
A newly released report found that the total economic output for food and agriculture-related industries in the U.S. grew 11.8% over the last year, reaching $9.63 trillion.
Combined economic output of Va. agriculture and forestry exceeds $100 billion
A newly released study found that the annual economic impact of Virginia’s agriculture and forestry sectors increased by nearly 7% since similar research was conducted in 2016.
Forests have huge impact on Virginia agriculture
Virginia forests provided $21 billion to the state’s economy in 2017. More than 62 percent of the commonwealth qualifies as forestland, according to the Virginia Department of Forestry.
When consumers dine out more, farmers see less of their food dollars
Americans are spending more on food, and they’re dining out more. One consequence of that, other than leftovers for tomorrow’s lunch, is that farmers are seeing less of each consumer food dollar.
