Futile forecasts and perplexed producers
Dillon M. Feuz
Tri State Livestock News
I attended the annual conference of the American Agricultural Economics Association this past week. One aspect of that conference every year is that those agricultural economists who follow commodity prices make forecasts for prices for the next year and then there are presentations made on the outlook for grain and livestock prices. Each year, the past year’s forecasts are reviewed and the economists who made the “best” forecasts are recognized.