Old Dominion Agriculture By Numbers

Jan 30, 2015

By Herman Ellison

Nothing can compare to the economic impact agriculture has in Virginia. 2012 Census of Agriculture counted more than 46,000 farms, which cover more than 8.3 million acres of farmland in the commonwealth. That’s nearly a third of our entire state! In fact, according to Virginia Department of Agriculture and Consumer Services, agriculture is our state’s largest industry.

In the most recent census, Virginia farmers reported selling more than $3.7 billion worth of agricultural products. Of these, most came from the livestock sector. Broiler chickens were the top commodity sold in 2012, the year of the latest Census of Agriculture. That year, growers sold $638.3 million worth of broiler hens.

Cattle is another big commodity in Virginia. In 2012 our farmers and rancher sold more than $430 million worth of cattle and calves. And, as can be expected, with livestock you also get livestock products, such as milk. In 2012, farmers sold nearly $347.2 million worth of cow milk in Virginia.

Our crop sales, which amounted to nearly $1.4 billion in 2012 are also nothing to sneeze at. In Virginia, soybeans are our top crop. Nearly 580,000 acres of farmland are dedicated to this crop, with Virginia farmers selling more than $300 million worth of soybeans in 2012.

Not surprisingly, tobacco is a major crop in Virginia. While this industry is not as big as it once was, Virginia still ranks as one of the top 5 states for tobacco. In 2012, our farmers sold $109 million worth of leaf tobacco from their farms.

Virginia farmers also grow plenty of edible fruits and vegetables. According to the 2012 Census, our farmers harvested more than 5,000 acres of potatoes and more than 3,000 acres of tomatoes, which are key vegetable crops in the commonwealth. On the fruit side, apples are the largest commodity in Virginia. Our growers harvested nearly 12,000 acres of apples in 2012. And, largely in thanks to our growing wine industry, grapes are now one of the top agricultural commodities in Virginia. Our farmers dedicated more than 4,300 acres to grape production in 2012.

There are plenty of other facts about Virginia agriculture that I could mention here, but I’ll let you check them out yourself. You can turn to the Virginia volume of the 2012 Census of Agriculture, or get the numbers using our Quick Stats database.

Source:usda.gov

Video: Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?

Historically, the USDA December crop report is a non-event or another dud report as the USDA reserves any final supply changes to the final report in January of the following year in this case 2026. But after the longest U.S. government shutdown in history at 43 days and no October crop report will they provide more data/surprise and make an exception?
Our China U.S. soybean purchase tracker is now at 26.6% or a total of 3.2 mmt but for traders it’s taking too long to unfold.
The final Stats Canada production report was bearish canola and wheat projection a record crop in both (it adds to the global glut of supplies) and bullish local corn and soybean prices in Ontario/Quebec thanks to a drought. It will not help the fund flow short-term, the USDA may need to offset it?
A U.S. Fed interest rate cut of another 25-basis point next Wednesday (probability 87.1%) could help fund flow and sentiment in stock and ag commodities into year end.
More inflows into Bitcoin this past week saw prices rebound back above 90,000 with support at 82,000 and resistance at 96,000.
A V-shaped bottom in cattle suggest the lows are in after Mexico reported another new world screwworm case. Lower weights, seasonal demand and higher U.S. beef select/choice values with a continued closure of the Mexican border to cattle will result in a resumption of higher cattle futures into yearend.
Australia is expected to produce its 3rd largest wheat crop ever at 36 mmt adding to the global glut of supplies.
Reports of ASF in hogs in Spain the largest pork exporter in Europe could see the U.S. win more pork export business long-term.
If the rains verify into next week of 3-5 inches for Brazil it would go a long way to fixing the dry regions from the last 2-months, but the European weather model has been wrong for the past 2-months!
Natural gas futures are surging to the 3rd price count as frigid hold temps set in.
CDN $ is also surging to end the week on a very resilient economy and better employment numbers suggesting no interest rate cuts next week.
Finally, the CFTC report showed funds were net buyers of soybeans but sellers of corn, canola and wheat. In real time the funds have gone back to selling as they take some profits.