OECD Agricultural Outlook

Now in its 9th edition, this publication analyses how global and domestic forces are shaping agricultural markets and products over the medium term, and highlights the risks and uncertainties that may influence the agricultural outlook upto 2008. Findings include that continuing global economic weakness, compounded by drought-induced production adjustments in some countries, and government support policies are conditioning market outcomes in the near term. High initial crop prices and low livestock prices are expected to converge as production adjusts with the break in the drought, and an economic rebound and strengthening demand should lead to increased trade and firmer prices over the projection period to 2008. Topics also discussed include: the role and influence of government policies on farmers' decisions; and the likely market effects of developments such as the US Farm Act and of an enlarged European Union.