Many in agriculture announced their pleasure with the U.S. Senate passed this morning of the bipartisan Infrastructure Investment and Jobs Act (IIJA). The bill includes investments of importance to many areas agriculture. Agriculture Secretary Tom Vilsack on the Bipartisan Infrastructure Investment and Jobs Act (WASHINGTON, August 10, 2021) — Agriculture Secretary Tom Vilsack released the following statement following Senate passage of the Bipartisan Infrastructure Investment and Jobs …
Cargill and Continental Grain Purchasing Sanderson Farms
Cargill and the Continental Grain Company Monday announced a joint-venture agreement to acquire Sanderson Farms, the third-largest poultry producer in the U.S. The all-cash purchase totals $4.53 billion, or $203 per share, a 30.3 percent premium to Sanderson Farms’ share price of $155.74 on June 18, 2021. Cargill and Continental Grain will combine Sanderson Farms with Wayne Farms, a subsidiary …
DMC Margin Drops Again in June
The June margin under the Dairy Margin Coverage (DMC) program dropped 65 cents from May’s margin to $6.24/cwt, which will generate a June payment of $3.26/cwt for the $9.50/cwt coverage. The DMC feed cost calculation for June was lower by $0.16/cwt of milk from May, mostly on lower soybean meal prices, while the June U.S. average all-milk price took a …
Ag Economy Barometer Holds Steady
The Purdue University/CME Group Ag Economy Barometer leveled off after two months of sharp declines. The July reading is 134, down only three points from June. Both producers’ sentiment regarding current and future conditions also dropped. The Index of Current Conditions dropped six points to a reading of 143, primarily due to weaker crop prices. The Index of Future Expectations …
Senate Subcommittee Approves FY22 Bill with Disaster Aid
The Senate Ag Appropriations Committee approved a $25.85 billion fiscal-year 2022 bill for the Agriculture Department and related agencies, including $7 billion in disaster aid. Subcommittee Chair Tammy Baldwin of Wisconsin says the bipartisan legislation is a product of Democrats and Republicans working together to support a stronger and more resilient ag economy that works for farmers, ranchers, and families …
USDA-RMA Extends Crop Insurance Deadlines
This week, the U.S. Department of Agriculture Risk Management Agency (USDA-RMA) announced they were authorizing Approved Insurance Providers (AIP) to extend crop insurance deadlines to help producers due to the widespread drought. RMA Acting Administrator Richard Flournoy says this relief is nationwide. Producers now have additional time to pay premium and administrative fees, and interest will be waived for 60 days or …
NCBA Continues to Fight for Sound Tax Policy
Many in agriculture have concerns with the Biden Administration’s American Families Plan when it comes to several provisions of the tax code meant to raise approximately $1.5 trillion in revenue over the next 10 years. National Cattlemen’s Beef Association (NCBA) Sr. Executive Director of Government Affairs, Danielle Beck, explains why there are major concerns with potential changes in tax policy. And Beck says ag producers need …
Disaster Assistance Available to Georgia Communities Impacted by Tropical Storm Elsa
The U.S. Department of Agriculture (USDA) recently announced they are prepared to help farmers, ranchers and communities recover from damages brought on by Tropical Storm Elsa. Georgia agricultural producers are encouraged to contact their local USDA Service Center to learn about the programs available to help them recover. This includes programs covering crop, land, infrastructure, and livestock losses. Local governments …
Financial Assistance Helps Landowners in Two Florida Watersheds
Florida private landowners in the St. Marks and Aucilla River watersheds can apply until Sept. 1 for financial and technical assistance from USDA’s Natural Resources Conservation Service (NRCS) Regional Conservation Partnership Program (RCPP) for fiscal year 2022 funding. The assistance will help landowners in portions of Leon, Jefferson, Wakulla, Madison, and Taylor counties conduct prescribed burns, remove invasive plants, plant longleaf pine trees, and …
AEM Releases June 2021 Equipment and Farm Tractor Sales Numbers
Smaller tractors led declines in U.S. farm tractor sales in June, while overall tractor inventories were down more than 40 percent year-over-year. Monthly data released by the Association of Equipment Manufacturers (AEM) finds U.S. total farm tractor sales fell 12.7 percent in June compared to 2020, the second overall negative result in a year. Small tractor sales led the decline, …