During the year, USDA’s National Agricultural Statistics Service (NASS) surveys farmers on planting decisions and conditions during production to estimate yields and possible production outcomes.
Throughout the years, responses to the surveys have declined. According to a chart from USDA-NASS, the agency had a roughly 83 percent response rate in June of 1992 compared to a roughly 56 percent response rate in June of 2016.
At the U.S. Farm Report roundtable taping at Top Producer Seminar, Peter Meyer of PIRA Energy thinks while some farmers are holding out, he thinks “the belt is being redefined.
“I think in the long run, they’re going to tie payments to whether you respond to your survey,” said Meyer. “All the concentration for the surveys are in a certain area now has to widen out.”
Chip Flory of Pro Farmer thinks there needs to be more of a focus on the Quarterly Grain Stocks report, but that comes with a problem.
“The problem [with] those Quarterly Grain Stocks reports, [is] that it is the least reliable set of data we get from NASS,” said Flory.
Watch Meyer, Flory, Mark Gold of Top Third Ag Marketing, and Matt Bennett of Bennett Consulting discuss the acreage mix and cattle markets on U.S. Farm Report above.