The MetLife Ag Quarterly Newsletter highlights the most current views on three key topics of interest in every issue. The MetLife’s research team is dedicated to agricultural market research and to provide you with strategic market perspective and actionable market insights that differentiate the Ag Quarterly Newsletter from other publications in the agricultural asset class. We cover a wide array of topics in the agriculture and timberland space such that every issue is unique. We hope you find these reports both insightful and practical, and we look forward to be your reliable and trusted source of financing.
The spring issue covered (1) US Ag Exports – More Resilient than They Appear highlighting the relative strength of global demand despite a strong US dollar affecting US exports, (2) El Nino to La Nina – Bullish for US Agriculture, suggesting the risk of lower yields along with higher crop prices relative to current market expectations, and (3) A Turning Point in US Beef Consumption in light of large domestic supplies and low prices supporting demand increases, with quotes from Dr. Glynn Tonsor from Kansas State University.
The winter issue covered (1) Crop Inventories Approaching Peak Levels, addressing the potential turning point in major crop markets and including quotes from Professor David Kohl of Virginia Tech, (2) Tree Nut Sector Navigating New Challenges, discussing the attractive demand fundamentals despite a strong US dollar and more challenging water access, echoed by borrower Skip Hubbard, President of the Chico Nut Company, and finally (3) High Hopes for Hops, highlighting the rapid demand growth in light of the craft beer culture becoming mainstream.
The summer issue covered (1) Pork Expansion Drives Lower Prices, Higher Demand as the industry enters a period of abundant supplies amid the need for disciplined growth – with quotes from professor Chris Hurt and borrower Bill Pridgeon of Pridgeon Farms, (2) Farm Commodity Prices Facing New Influences discussing how agriculture’s performance can diverge from the rest of the economy, resulting in rising volatility lately, and (3) Opportunities in Timberland Amid an Improving Economy looking at timber markets and recent transactions suggesting upside in US timberland sales.
The topics covered include (1) Farm Leverage on the Rise, But From Record Lows discussing the benefit of a low debt-to-asset ratio amid low commodity prices and moderating land values, (2) New Trade Deals to Boost Agriculture highlighting the latest developments on the trade policy front to benefit US agriculture, and (3) Staying Power of Latest Food Trends illustrating the consumer appeal of convenience and health foods as evidenced by borrower quotes on citrus and milk products from Wonderful Citrus and Fair Oaks Farms, respectively.
The winter issue topics included (1) US Farm Prices Weathering the Drag of Strong Dollar addressing how global supply and demand conditions facing agriculture supersede the dollar as the most influential role in setting farm prices, (2) Fertilizer Pricing Following Lower Commodities? Discussing recent downward trends in many commodities keeping similar pressure on fertilizer prices, and (3) Steady Egg Industry Faces Big Change in 2015 discussing the impact of Proposition 2 in California being a key driver for change in the usually low-key egg industry.