Farm Exports to Drop $1B Over Drought

But one expert thinks the 1-year dip won't matter much

By Liam Carnahan,  Newser Staff

Posted Oct 10, 2012 1:05 PM CDT

(Newser) – The nation's top agricultural negotiator said he expects farm exports to drop between $1 billion and $2 billion, though he doesn't think the one-year dip will drive away international buyers in the long run, reports the AP. Isi Siddiqui says the drought is to blame—less grain means higher feed prices, which drives up beef and poultry costs. Last year, the US exported $137 billion in agriculture products, and next year, he expects a rebound to $143 billion. China is a major buyer of US dairy and meat and is expected to remain so.

This year, expect a dip in US agriculture exports, thanks to the drought.
This year, expect a dip in US agriculture exports, thanks to the drought.   (AP Photo/Sue Ogrocki)
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