By Scout Nelson
The USDA’s National Agricultural Statistics Service has projected Nebraska’s 2024 field and miscellaneous crop values at $12.4 billion, marking a 4% decrease from 2023. The drop is attributed to lower market prices and reduced production levels.
Corn production is expected to reach $8.02 billion, reflecting a 1% decline from the previous year. The average price of corn is forecasted at $4.45 per bushel, down $0.23. Soybean production is projected to total $2.98 billion, an 8% decrease, with an average price of $9.90 per bushel, down $2.30.
Winter wheat is the only crop showing growth, with production expected to rise by 3% to $246 million. However, the price per bushel is expected to drop to $5.15, a decrease of $1.32.
Alfalfa production is anticipated to total $453 million, a significant 19% decline from last year. The price per ton is expected to be $130.00, a $63.00 decrease. Other hay production is also set to fall by 14% to $286 million, with an average price of $108.00 per ton, down $28.00.
The report highlights the changing agricultural landscape in Nebraska, emphasizing the impact of fluctuating market prices on crop values.
Photo Credits:gettyimages-eugenesergeev
Categories: Nebraska, Crops, Corn, Soybeans, Alfalfa