The Agricultural Outlook for 1925

Excerpts from the report: The general outlook for American agriculture is fairly encouraging this year as compared with recent years, although there may be a slackening in domestic demand for farm products next winter. Producers of the major farm products should follow a program of balanced and economical production about the same as last year. In general, the higher prices realized for 1924 products were due to reduced production, here or abroad, rather than to any marked improvement in demand. Farmers should continue to devote available resources to the reduction of existing indebtedness rather than to general expansion of production which might result in another period of low returns to farming. In making plans for 1925, farmers in each section should consider the outlook for all the commodities that they produce or can produce. Though in general, marked shifts in production do not seem advisable, yet each farmer may possibly add to his net income for the year by modifying the acreage of his crop or the numbers of his livestock in the light of the outlook for each of the products he can grow. From present indications ample credit for farming purposes will be available in most regions of the United States on more favorable terms. Interest rates are now somewhat lower than in recent years and needed credit should be arranged for early in the season. The present tendency in industry points to stronger competition for farm labor during the spring and summer of 1925 than prevailed during 1924. From present indications little change in farm equipment and upkeep costs are to be expected.