Agriculture in and around Monument is predominantly defined by dryland and irrigated farming suited to the semi-arid climate of eastern Oregon.
Cattle ranching is the most significant agricultural pursuit, with expansive ranches utilizing both private grazing lands and federal grazing allotments in the surrounding hills. Crop production is largely in support of the livestock industry, consisting of alfalfa, grass hay, and other forage crops cultivated in the fertile, irrigated soils along the North Fork John Day River.