Ag Economy Barometer Shows Some Optimism

Clint Thompson Alabama, Economy, Florida, Georgia

Farmer sentiment improved again in June as the Purdue University-CME Group Ag Economy Barometer rose 14 points to 117. The barometer’s rise was fueled by improvements in both the Index of Current Conditions, which rose to a reading of 99, 19% higher than a month earlier, and the Index of Future Expectations, which climbed to 126, 12% higher than in …

Ag Economy Barometer Shows Slight Improvement in May

Clint Thompson Alabama, Economy, Florida, Georgia

After a sharp drop in March and April, farmer sentiment in May improved slightly. The Purdue University/CME Group Ag Economy Barometer rose to 103, seven points higher than April. However, the index remained almost 40 points below its all-time high of 168 that was set in February of this year. The people behind this month’s barometer say the survey was …

duvall

Farm Bankruptcies are Rising

Clint Thompson Alabama, Economy, Florida, Georgia

Recently released data from U.S. Courts show that farm bankruptcies increased 23% year-to-year. An American Farm Bureau Market Intel report shows a total of 627 filings took place during a 12-month period that ended in March of 2020. That makes five straight years of Chapter 12 bankruptcy increases, including a faster rate of filings since January of this year. Wisconsin …

nmpf

NMPF Appreciates USDA Dairy Purchases

Dan Dairy, Economy, Industry News Release

NMPF expressed appreciation to Agriculture Secretary Sonny Perdue and the USDA for including $120 million of cheese and butter among $470 million in Section 32 food purchases. (NMPF) — The National Milk Producers Federation (NMPF) expressed appreciation to Agriculture Secretary Sonny Perdue and the U.S. Department of Agriculture for including $120 million of cheese and butter among $470 million in …

food

USDA Announces Additional Food Purchase Plans

Dan Aquaculture, Citrus, Dairy, Economy, Field Crops, Fruits, Industry News Release, Pork, Specialty Crops, Vegetables

(USDA/AMS) — U.S. Secretary of Agriculture Sonny Perdue announced details of $470 million in Section 32 food purchases to occur in the third quarter of fiscal year 2020, in addition to purchases previously announced, which will enable USDA to purchase surplus food for distribution to communities nationwide. These Section 32 purchases will provide additional support for producers and Americans in …

dairy

Dairy Farmers of American Donating to Needy Families

Dan Dairy, Economy, Industry News Release

(NAFB) — The Dairy Farmers of America cooperative is providing dairy products to needy families. The organization announced this week the launch of its Farmers Feeding Families Fund, which hopes to raise $500,000 for community food banks across the country. Initial seed money of $200,000 has already been raised through the Cooperative’s DFA Cares Foundation. DFA is already holding events …

analysis

NCGA Analysis Shows $50 Per Acre Revenue Declines for Corn Due to COVID-19

Dan Corn, Economy, Industry News Release

(NCGA) — Analysis released by the National Corn Growers Association (NCGA) showed cash corn prices have declined by 16 percent on average, with several regions experiencing declines of more than 20 percent, since March 1 as a result of the COVID-19 pandemic. The analysis projects a $50 per acre revenue decline for the 2019 corn crop. “The COVID-19 pandemic is being …

agreement

Agreement Reached on Expanding Coronavirus Aid, Ag Eligibility in EIDL

Dan Economy, Industry News Release

(NAFB) — Lawmakers reached an agreement Tuesday to allow agriculture to participate in the Small Business Administration’s Economic Injury Disaster Loan (EIDL) program. The agreement is part of a larger deal, a $484 billion coronavirus package to extend the Paycheck Protection Program. The agreement also includes funds for small lenders and community banks, funds for national coronavirus testing and funding …

lawmakers

Lawmakers Seek Support for Local Media

Dan Economy, General, Industry News Release

(NAFB) — More than 200 lawmakers seek federal assistance for local news and media outlets suffering from the lack of advertising funds during the COVID-19 pandemic. The lawmakers say that in times of emergency and disaster, the public turns to their local media, and advertising plays an incredible role in funding those outlets. A letter to the Trump administration says …