Zions Bank Ag Presentation. January 2, 2018

Transcription

1 Zions Bank Ag Presentation January 2, 2018

2 AGRICULTURE

3 Agriculture, Forestry, Fishing and Hunting as a Percentage of U.S. GDP Agriculture Mining Utilities Construction Manufacturing Wholesale Trade Retail Trade Transportation/Warehousing Information Financial Services Professional & Business Services Educational & Health Services Arts/Entertain/Rec/Accom/Food Services Other Services Government 1.0% 1.8% 1.6% 4.1% 6.1% 5.9% 3.0% 4.7% 4.0% 2.2% 8.4% 12.1% 12.3% 12.4% 20.4% 0% 5% 10% 15% 20% 25% Source: Bureau of Economic Analysis

4 $140 $4.50 $120 $4.00 Oil Price $100 $80 $60 $3.50 $3.00 $2.50 Gas Price $40 $2.00 $20 $1.50 $0 $ WTI Crude Oil Price Regular Gasoline Price Source: Federal Reserve Bank of St. Louis

5 U.S. Farm Productivity Increases While Number of Farms Decrease 6,000, ,000 5,000, ,000 4,000, ,000 3,000, ,000 2,000, ,000 1,000,000 50, Number of Farms Productivity Source: United States Department of Agriculture

6 U.S. Beef and Dairy Exports 8,000 7,000 Millions of Dollars 6,000 5,000 4,000 3,000 2,000 1, U.S. Dairy U.S. Beef

7 US Beef and Dairy Exports Billions of Dollars Beef & Veal Dairy & Products Source: USDA Foreign Agricultural Service, GATS

8 Share of U.S. Agriculture Exported in % Dairy 20% Pork >50% Rice >20% of U.S. agriculture production is exported annually 15% Poultry 10% Beef >70% Cotton >70% Tree Nuts 50% Soybeans 50% Wheat >50% Sorghum 15% Apples >30% Grapes >20% Cherries Source: USDA, Foreign Agricultural Service

9 Contribution to U.S. Agriculture by State 2014 Contribution State 2014 Ranking 16.6% California 1 st 5.5% Texas 3 rd 3.7% Washington 7 th 2.1% Idaho 16 th 1.9% Oregon 19 th 1.6% Colorado 24 th 1.0% Arizona 31 st 1.0% New Mexico 32 nd 0.4% Utah 39 th 0.4% Wyoming 40 th 0.2% Nevada 45 th Source: Bureau of Economic Analysis Note: Data unavailable for Delaware and Rhode Island

10 Per Capita Agriculture Contribution to GDP Top 10 States $4,000 $3,672 $3,618 $3,500 $3,193 $3,000 $2,725 $2,500 $2,000 $1,861 $1,652 $1,500 $1,319 $1,168 $1,061 $955 $1,000 $500 $507 $0 Source: Bureau of Economic Analysis Note: Data unavailable for Delaware and Rhode Island

11 Per Capita Agriculture Contribution to GDP Bottom 10 States $600 $504 $500 $400 $300 $200 $219 $199 $159 $158 $152 $130 $109 $100 $87 $81 $76 $0 Source: Bureau of Economic Analysis Note: Data unavailable for Delaware and Rhode Island

12 2012 Production Value of Agriculture Products Sold Value State $42,627,472,000 California $25,375,581,000 Texas $9,120,749,000 Washington $7,801,446,000 Idaho $7,780,874,000 Colorado $4,883,674,000 Oregon $3,732,113,000 Arizona $2,550,147,000 New Mexico $1,816,147,000 Utah $1,689,416,000 Wyoming $764,144,000 Nevada Total Value: $108,141,763,000 Source: U.S. Department of Agriculture; 2012 Census Survey

13 U.S. Agricultural Products Sold as a Percentage of Total Market Value In Thousands of Dollars Source: U.S. Department of Agriculture; 2012 Census Survey

14 Top 10 U.S. Agricultural Exports Ranking Product Share of Total Export Market 1 st Soybeans 14.2% 2 nd Other plant products 12.5% 3 rd Feeds and other feed grains 8.0% 4 th Tree nuts 6.4% 5 th Corn 6.2% 6 th Beef and veal 4.7% 7 th Wheat 4.2% 8 th Pork 4.2% 9 th Dairy Products 3.9% 10 th Soybean meal 3.6% Source: United States Department of Agriculture Note: Top 10 exports comprise about 68% of U.S. total exports

15 United States Farm Income $ Billion e 2017f Gross Farm Income Total Expenses Net Farm Income

16 U.S. Cattle Supply Million Lbs Commercial Beef Production 2017f 2018f Yearly Change Percent Change Source: Livestock Marketing Information Center; Note: f = forecast

17 U.S. Cattle Demand $ per Hundredweight $180 $160 $140 $120 $100 $80 $60 $ Live Slaughter Steer Price (5-Market Avg.) 2017f 2018f Yearly Change Percent Change Source: Livestock Marketing Information Center; Note: f = forecast

18 Agriculture, Forestry, Fishing and Hunting as a Percentage of Idaho GDP Agriculture Mining Utilities Construction Manufacturing Wholesale Trade Retail Trade Transportation/Warehousing Information Financial Services Professional & Business Services Educational & Health Services Arts/Entertain/Rec/Accom/Food Services Other Services Government 1.7% 1.4% 3.0% 1.9% 3.4% 2.0% 5.4% 5.5% 6.0% 8.5% 9.7% 8.6% 11.3% 13.6% 18.2% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% Source: Bureau of Economic Analysis

19 U.S. Agricultural Products Sold as a Percentage of Total Market Value In Thousands of Dollars Source: U.S. Department of Agriculture; 2012 Census Survey Note: Total slightly higher than individual amounts shown due to information withheld to avoid disclosing data for individual operations

20 U.S. Agriculture Trade Balance Billions of Dollars Ag Trade Balance Ag Exports Ag Imports Source: USDA, Economic Research Service

21 Top 10 Idaho Agricultural Exports Ranking Product Share of Total Export Market 1 st Other plant products 19.7% 2 nd Dairy Products 18.4% 3 rd Wheat 13.8% 4 th Vegetables, processed 13.4% 5 th Beef and veal 8.4% 6 th Feeds and other feed grains 7.5% 7 th Vegetables, fresh 7.0% 8 th Grain products, processed 3.4% 9 th Other livestock products 3.3% 10 th Hides and skins 2.6% Source: United States Department of Agriculture Note: Top 10 exports comprise about 97% of Idaho total exports

22 Agriculture, Forestry, Fishing and Hunting as a Percentage of Utah GDP Agriculture Mining Utilities Construction Manufacturing Wholesale Trade Retail Trade Transportation/Warehousing Information Financial Services Professional & Business Services Educational & Health Services Arts/Entertain/Rec/Accom/Food Services Other Services Government 0.5% 2.0% 1.1% 5.2% 6.9% 3.5% 4.1% 3.3% 2.9% 6.1% 6.9% 11.6% 10.9% 13.1% 21.9% 0% 5% 10% 15% 20% 25% Source: Bureau of Economic Analysis

23 Utah Agricultural Products Sold as a Percentage of Total Market Value In Thousands of Dollars Source: U.S. Department of Agriculture; 2012 Census Survey

24 Top 10 Utah Agricultural Exports Ranking Product Share of Total Export Market 1 st Other plant products 22.1% 2 nd Dairy products 13.1% 3 rd Beef and veal 12.3% 4 th Feeds and other feed grains 10.2% 5 th Pork 9.9% 6 th Other livestock products 9.2% 7 th Other poultry products 6.5% 8 th Hides and skins 4.7% 9 th Wheat 4.0% 10 th Grain products, processed 3.3% Source: United States Department of Agriculture Note: Top 10 exports comprise about 95% of Utah total exports

25 Agriculture Export-Weighted Dollar Index Forecast Source: USDA Economic Research Service

26 Agriculture, Forestry, Fishing and Hunting as a Percentage of Wyoming GDP Agriculture Mining Utilities Construction Manufacturing Wholesale Trade Retail Trade Transportation/Warehousing Information Financial Services Professional & Business Services Educational & Health Services Arts/Entertain/Rec/Accom/Food Services Other Services Government 1.6% 2.2% 1.4% 1.7% 4.4% 4.4% 4.2% 3.8% 6.1% 5.5% 5.5% 7.5% 13.8% 15.6% 22.2% 0% 5% 10% 15% 20% 25% Source: Bureau of Economic Analysis

27 Wyoming Agricultural Products Sold as a Percentage of Total Market Value In Thousands of Dollars Source: U.S. Department of Agriculture; 2012 Census Survey

28 Top 10 Wyoming Agricultural Exports Ranking Product Share of Total Export Market 1 st Beef and veal 29.9% 2 nd Other plant products 17.1% 3 rd Feeds and other feed grains 12.8% 4 th Other livestock products 11.6% 5 th Hides and skins 9.6% 6 th Pork 4.8% 7 th Grain products, processed 3.9% 8 th Wheat 3.4% 9 th Vegetables, processed 1.8% 10 th Corn 1.6% Source: United States Department of Agriculture Note: Top 10 exports comprise about 97% of Wyoming total exports

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