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A Briefing on the Statistics and Data that Underpin the Success of U.S. Agriculture
Thursday, June 25, 2015 1310 Longworth House Office Building 12-1 PM ET *Sandwiches will be served.* 328A Russell Senate Office Building 3-4 PM ET RSVP by June 24th at 5 PM ET https://docs.google.com/forms/d/1xz0MMR9PktO5NsbgYncvv_sT0ezt4N4St96iz81tDb8/viewform The USDA produces a vast amount of data and information that directly informs decisions by food and agricultural market participants; agricultural input and food businesses; banks and other credit institutions; and those who make food, farm, economic development, and trade policy. American agriculture, rural America, food, and resource-based industries depend on the production of accurate, reliable, timely, and objective food, agricultural, rural economic, and resource statistics and market information. Speakers Scott Irwin, University of Illinois Why is public data so important for modern agricultural markets? Daniel Colacicco, American Sugar Alliance
What is the value of public data to industry?
Speakers at the June 25th briefing will discuss the value of USDA crop and livestock reports. Market volatility and related uncertainty significantly increase in the absence of publicly-managed and produced statistics. Public data products and projections serve to improve the accuracy of the expectations of market participants, reducing market pricing errors. This event will provide economists' perspective on why public datasets are essential for the market to function efficiently as well as some issues related to data to be aware of as the agricultural, food, and resource data and statistics environment continues to mature. |
