The Farm Outlook for 1937

Excerpts from the report: The purpose of the forecasts contained in this report is to assist farmers in planning their production and marketing programs for 1937. They always have to make forecasts. No matter how inadequate the information available to them, farmers must take the future into account in planning their crop and livestock programs. The outlook is for further improvement in the economic position of American agriculture in 1937. Domestic demand for farm products is expected to improve, and the foreign-demand situation also appears brighter. Industrial production is expected to continue to advance in this country. The national income will probably be about 10 percent greater in 1937 than it has been in 1936. No great expansion in the foreign market for agricultural products is in prospect, but the reciprocal trade agreements program of the United States and various moves toward relaxation of trade barriers abroad make the foreign picture a little brighter than it has been in recent years. In general, farm prices are expected to stay at high levels in 1937, although some decline is probable in the last half of the year if crop production is more nearly average than it was in 1936.