Tractor and combine sales declined in April for the second month in a row, according to the Association of Equipment Manufacturers (AEM). U.S. total farm tractor sales fell 22.3 percent in April compared to 2021, while combine sales for the month declined 5.6 percent. Total farm tractor sales are now down 13.7 percent year-to-date, while combines are down 14.5 percent. …
Vilsack: ‘Don’t Lose Sight of Farm Families’
Agriculture Secretary Tom Vilsack made a plea to the Senate Ag Appropriations Committee in an effort to get help for the nation’s farmers and ranchers who are struggling. The committee met this week to review President Biden’s budget proposal for the Department of Agriculture. “I represented farmers during the 1980s as a small-town lawyer. I can tell you the pain. I can …
Beef Export Value Sets another Record
According to new data released by the U.S. Department of Agriculture (USDA) and compiled by the U.S. Meat Export Federation (USMEF), U.S. beef exports soared to another new value record in March. Pork exports that month were the largest so far this year, but well below the record-large totals posted in March 2021. Beef exports totaled 126,285 metric tons (mt) …
USDA Updates Livestock Insurance Options to Offer Better Protection, Flexibility
The U.S. Department of Agriculture (USDA) has updated three key crop insurance options for livestock producers: the Dairy Revenue Protection (DRP), Livestock Gross Margin (LGM), and Livestock Risk Protection (LRP). USDA’s Risk Management Agency (RMA) revised the insurance options to reach more producers, offer greater flexibility for protecting their operations, and ultimately, better meet the needs of the country’s swine, …
USDA to Provide $50 Million in Support to U.S. Cotton and Wool Apparel Manufacturers Impacted by the Pandemic
(WASHINGTON, May 5, 2022) — The U.S. Department of Agriculture (USDA) announced a commitment of $50 million to assist eligible apparel manufacturers of worsted wool suits, sport coats, pants, or Pima cotton dress shirts; Pima cotton spinners; and wool fabric manufacturers and wool spinners. The new Cotton and Wool Apparel (CAWA) program is part of USDA’s Pandemic Assistance for Producers initiative and the …
Producer Sentiment Improves Despite Inflation Worries
The Purdue University/CME Group Ag Economy Barometer improved in April, rising eight points to a reading of 121. However, that remains 32 percent below its level from the same time last year. Producer perspectives on current conditions and future expectations saw an uptick over the past month. The Index of Current Conditions improved seven points to a reading of 120, …
Vilsack Requests Higher USDA Budget
USDA Secretary Tom Vilsack says his department’s lost thousands of staffers in recent years, and the latest USDA budget request tries to recoup some of those losses. USDA’s fiscal year 2023 budget request of close to 24 billion dollars is up more than 2 billion or 10-percent from this year, and part of that is to make up personnel losses. …
Vilsack Authorizes Additional CCC Funds for HPAI Response
Agriculture Secretary Tom Vilsack Wednesday approved Commodity Credit Corporation funding to assist USDA’s Animal and Plant Health Inspection Service response to highly pathogenic avian influenza. The virus has been confirmed in 29 states, affecting more than 33 million domestic birds. APHIS is working closely with state animal health officials on joint incident responses in each affected state. To help ensure …
USDA-NRCS Providing Technical and Financial Assistance
USDA’s Natural Resources Conservation Service (NRCS) continues to provide both technical and financial assistance through various programs. NRCS offers this assistance to agricultural producers in an effort to help manage natural resources in a sustainable manner. Through these programs, NRCS assistance helps plan and implement conservation practices that address natural resource concerns. NRCS Chief, Terry Cosby, invites agricultural producers and private landowners to …
Farm Lending Activity Accelerates in Early 2022
The Federal Reserve Bank of Kansas City says farm lending activity at commercial banks increased during the first quarter of 2022 due to a significant increase in the size of operating loans. With some input costs surging in recent months, the volume of operating loans increased sharply from a year ago, and non-real estate lending increased on a rolling four-quarter …