Fiscal year 2017 agricultural exports are projected at $137.0 billion, up $1.0 billion from the February forecast, as increases are expected in livestock, grain/feed, and cotton exports. Livestock, poultry, and dairy exports are raised $600 million to $28.7 billion due to an expected increase in red meat shipments that more than offsets slight declines in the poultry and dairy forecasts.
- Grain and feed exports are forecast at $29.0 billion, up $400 million, driven by a larger volume for wheat and higher unit values for rice.
- Cotton is forecast up $400 million to $5.4 billion as the United States continues to gain market share across major markets.
- Oilseed and product exports are forecast at $31.7 billion, up $100 million due to expected increased soybean product exports.
- The export forecast for horticultural products is down $500 million to $33.5 billion on the basis of lower unit values of tree nuts.
- U.S. agricultural imports in fiscal year 2017 are forecast at $114.5 billion, unchanged from February and $1.4 billion above their total value in fiscal year 2016. The U.S. agricultural trade surplus is expected to increase $1 billion to $22.5 billion.
