statement by keith collins chief economist united states department of agriculture before the senate appropriations subcommittee on rural development and related agencies march 30 2006 mr chairman members thank you for opportunity to discuss general economic situation in us as background s review usda fy 2007 budget submission i will major factors affecting agricultural markets coming year their implications financial conditions experienced an extremely strong recovery following slowdown at start this decade with solid growth domestic export demand large crop harvests record high cattle broiler milk prices net farm income reached a 2004 2005 second highest level despite increase stocks which reduced multiple hurricanes that shut down central marketing infrastructure country sharply higher energy raised production processing costs continued loss asian beef emergence global avian influenza ai concerns adverse were partially offset
