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Below you'll find a list of all posts that have been categorized as “Economy”
Wednesday, Ranking Member of the Livestock & Foreign Agriculture Subcommittee Dusty Johnson (R-S.D) and Representative Henry Cuellar (D-TX-28) introduced the bipartisan Cattle Contract Library Act of 2021 (H.R. 5609), which would create a library for cattle contracts within the USDA’s Agriculture Marketing Service. Currently, USDA maintains a pork contract library, and following significant volatility in the cattle market and the release of the …
(Tallahassee, FL/October 20, 2021) — The U.S. Department of Agriculture (USDA) has informed Florida Agriculture Commissioner Nikki Fried and the Florida Department of Agriculture and Consumer Services (FDACS) that it has granted a Secretarial disaster designation in several counties in Georgia and Florida due to losses caused by Tropical Storm Elsa, excessive wind, and excessive rainfall that occurred on July 7, 2021. With this designation, impacted producers …
Overall sales of tractors continue their growth above an already-hot pace set in 2020, according to the Association of Equipment Manufacturers. U.S. total farm tractor sales climbed 2.5 percent in September compared to 2020. The sub-40 horsepower category stayed moderately positive, growing 0.4 percent, while the mid-size 41-100 horsepower segment was up 2.4 percent. Heavy-duty units saw another big month, …
A strong demand for cotton, coupled with lower production, is leading to stronger forecast prices. Stephanie Ho has more details.
House Ag Committee Chair David Scott and fellow Democrats sent a letter to House and Senate leadership asking them to preserve the ag spending provisions in the Build Back Better Act. They point out that the provisions included in the agriculture portion of the Build Back Better Act will make transformative investments that will benefit agricultural producers and rural communities …
This week, the U.S. Department of Agriculture (USDA) announced higher loan limits will be available for borrowers seeking a guaranteed farm loan. The loan limit, as of October 1, 2021, went from $1.776 million to $1.825 million. FSA Administrator Zach Ducheneaux said “Farm loans are critical for our customers’ annual operating and family living expenses, emergency needs, and cash flow.” …
Many states are experiencing record land prices across the Midwest. Aggressive bidding continued into summer and the fall selling season, with new high prices often being reached in Iowa. But the land market is also strong in most other crop regions. Farmers National Company recently sold a client’s land in northeast Nebraska at a simulcast auction for $12,950-$13,400 per acre, …
Sentiment among agricultural producers weakened in September as the Ag Economy Barometer declined 14 points to a reading of 124. This is the weakest farmer sentiment reading since July 2020, when the index stood at 118. Producers were less optimistic about current and future conditions on their farms and the agricultural sector than a month earlier. There was a sharp …
A short-term extension for Mandatory Livestock Price Reporting approved by Congress as part of a temporary stop-gap bill to keep the government open, allows more time for possible market reforms. Lawmakers voted for the extension as the authorization for existing mandatory reporting of livestock prices was about to expire, and temporary funding was needed to avert an end-of-fiscal-year government shutdown. …
Last week, the Senate and House passed a Continuing Resolution to fund federal agencies through December 3. The CR provides $10 billion in much-needed disaster relief for losses incurred by farmers and ranchers in 2020 and 2021. It also extends Livestock Mandatory Reporting through December 3 of this year. National Farmers Union President Rob Larew says this is good news …
