The Year in Preview
Agriculture: California’s new agriculture secretary, Bill Lyons Jr., will focus on rebuilding flagging sales in Asia, Latin America and Russia. Over-planting of fruits and nuts could tamp down domestic prices for farmers, although low inventories from rainy, cool 1998 could mitigate that problem. The U.S. Department of Agriculture and the organic farming community will continue to argue over federal rules. Sour note for growers: A minimum-wage increase could squeeze profits. Bright note: Feed grain prices are expected to stay low, which means retail dairy prices should come down.
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