3. Feed and Livestock Sectors, Economic Growth, Key in Baseline Projections

Each year, USDA updates and publishes the 10-year supply and demand projections for major crop and livestock commodities in its Agricultural Projections report. The projections—popularly known as the “Baseline”—account for the economic relationships that drive the outlook for U.S. and global supply, demand, and trade for major meats (beef, pork, poultry) and livestock feeds (corn, soybeans), which are key commodities to the performance of the U.S. farm sector. The projections are based on expert judgment and models that draw from a range of domestic and international data on supply and demand variables that ultimately affect the U.S. feed-livestock sector