FCA Issues Report on Economic Conditions in Agriculture

Clint Thompson Economy

Late last week, the Farm Credit Agency issued its quarterly report on the economic conditions in American agriculture. The report says for the past several years, government payments have played an important role in the farm economy and making up an ever-increasing share of farm income. “For 2020, about two-thirds of government payments are coming from ad hoc and supplemental …

peanut market

Peanut Market Update

Clint Thompson Economy, Peanuts

Overall, peanut markets have remained quiet. But Tyron Spearman has an update of where the numbers currently stand.

usda

USDA Forecasting More Net Cash Farm Income for 2020

Clint Thompson Economy, USDA

A new forecast from the U.S. Department of Agriculture (USDA) notes farm income across the country this year will be higher than it was in 2019. USDA Chief Economist Rob Johansson has the new numbers. Johansson says USDA lowered its estimate of 2019 farm income. USDA notes direct government farm payments, including federal aid, are forecast at $37.2 billion, a …

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 …

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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 …

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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 …