Some are saying the peanut market right now is in a wait and see mode. Tyron Spearman has the story.
Farmers Turning to Riskier Loans to Stay in Business
(NAFB) — Weather challenges, trade tensions, and long-term financial struggles continue to make life difficult in the U.S. agricultural sector. The Wall Street Journal says those headwinds are forcing an increasing number of farmers and ranchers to take on high-interest loans from lenders outside of the ag sector, just to stay in business. The more traditional farm banks are offering …
Ag Lender Survey Shows Lower Profitability and Higher Concerns
(NAFB) — The American Bankers Association teamed up with Farmer Mac for their Fall 2019 Ag Lender Survey. The biggest takeaway from the report is that the agricultural economy and farm income remain under stress, with little if any signs of improvement ahead in 2020. Over 82 percent of lenders in the survey said farm profits were being squeezed this …
Perdue Hoping Trade Aid Payments Unnecessary in 2020
(NAFB) — Ag Secretary Sonny Perdue is hoping that a third round of trade aid payments to farmers will be unnecessary in 2020 because of a new trade deal with China. The Hagstrom Report says Perdue spoke with reporters shortly after returning from a “successful” trade mission to Mexico. Farmers “would rather have trade than aid,” Perdue says. At the …
America’s Largest Milk Producer Files for Bankruptcy
(NAFB) — Dean Foods, a 94-year-old milk producer, is filing for bankruptcy. The largest milk producer in the country is struggling as Americans are no longer drinking as much milk from cows. This year has been especially difficult as company sales dropped seven percent in the first half of this year, with profits falling 14 percent. A CNN Dot Com …
Georgia Ag Commissioner on Timeline for Disaster Block Grants
The U.S. Department of Agriculture announced last week that it will make available $800 million to Southeast agricultural producers affected by hurricanes Michael and Florence. The state block grants are part of a broader $3 billion package to help producers recover from 2018 and 2019 natural disasters. Georgia Agriculture Commissioner Gary Black explains that while information is out that signup …
2020 Enrollment for DMC Program Continues
Dairy producers are being reminded the enrollment period for the Dairy Margin Coverage (DMC) for 2020 continues. The DMC program offers reasonably priced protection to dairy producers when the difference between the all-milk price and the average feed cost (the margin) falls below a certain dollar amount selected by the producer. The deadline to enroll in DMC for 2020 is Dec. 13, …
FSA Administrator Fordyce Explains Disaster Relief Block Grants
The U.S. Department of Agriculture (USDA) has announced it will make available $800 million to agricultural producers in Alabama, Florida and Georgia affected by hurricanes Michael and Florence. The state block grants are part of a broader $3 billion package to help producers recover from 2018 and 2019 natural disasters, which includes the Wildfire and Hurricane Indemnity Program-Plus (WHIP+) as …
ADAI Encouraged by USDA Disaster Aid Block Grant Award
(ADAI) — Commissioner Rick Pate is encouraged by USDA Secretary Sonny Perdue’s recent announcement awarding $800 million in a disaster aid block grant for agricultural producers in various southern states. The Alabama Department of Agriculture and Industries (ADAI) has worked with USDA leadership for the past four months on a disaster aid block grant program, specifically for producers impacted by …
USDA Announces Block Grants for Three States as Part of Broader Disaster Relief Package
(USDA) — U.S. Secretary of Agriculture Sonny Perdue announced the U.S. Department of Agriculture (USDA) will make available $800 million to agricultural producers in Alabama, Florida and Georgia affected by hurricanes Michael and Florence. The state block grants are part of a broader $3 billion package to help producers recover from 2018 and 2019 natural disasters, which includes the Wildfire …