Analysis of the Waxman-Markey Climate Change Bill from the USDA and the CBO.
Global Agriculture Trade Database (GATS)
The USDA Foreign Agriculture Service has launched a new enhanced version of a database for global trade in agriculture, fisheries, and forest related goods called GATS. GATS contains data from 1989 on. The GATS home page also contains a useful running monthly summary on the value of agricultural trade for the U.S.
This database is great for all sorts of research and quickly reveals any number of interesting facts. For example, did you know that the U.S. imports four and a half times as much wine and wine products as it exports.
Bumper Cherry Crop leads to lower prices
Excellent spring weather in Washington led to a bumper cherry crop this summer. The increased production also led to lower prices to the benefit of consumers. What has been the relationship between production in Washington and prices in the recent past. The figure below shows each from 2000 to 2008.
It is reasonable to guess that an inverse relationship would exist between the size of the cherry crop in Washington and prices because Washington produces a significant portion of the national crop of cherries. This seems to be the case for 2000-2003 and 2005-2008. Go to the Economics 101 File for a further discussion about the economics behind price and quantity and how low prices have to go for growers do not even bother to harvest the crop.