We are hearing more reactions about the Biden Administration’s American Families Plan, especially concerning the several provisions of the tax code meant to raise approximately $1.5 trillion in revenue over the next 10 years. This week, the National Cattlemen’s Beef Association (NCBA) noted they have long advocated for sound tax policy for rural America. “Family-owned cattle operations, no matter the size, are …
Ag Businesses Report Favorable First Quarter Earnings
Earning reports topped headlines on Wall Street this week, and agriculture businesses seem to be doing well. Syngenta reported first-quarter sales of $7.1 billion, up 20% for the same period last year. BASF reported first-quarter sales were up 16% to 19.4 billion euros, or $23.52 billion. AGCO reported sales for the first quarter were approximately $2.4 billion, an increase of …
Florida Buys 5,734 Acres From Alico
The state of Florida recently purchased approximately 5,734 acres of Alico Ranch for $14.4 million from Alico, Inc. The purchase was made under the Florida Forever program, pursuant to an option agreement between the state and the company earlier this fiscal year. “This is now the third sales transaction we have completed with the state of Florida within the last three years, …
USDA Improves Livestock Crop Insurance Policies with New Options
The U.S. Department of Agriculture (USDA) has announced they are updating livestock insurance policies to improve options for producers and to create more opportunities for producers to participate. USDA’s Risk Management Agency’s (RMA) has made updates to the Dairy Revenue Protection (DRP) and Livestock Gross Margin (LGM) policies. These updates will be effective for the 2022 and succeeding crop years. Updates to …
Financial Assistance Helps Ag Producers in Florida Improve Water Quality
Agricultural producers in select watersheds in Florida can apply for financial assistance from USDA’s Natural Resources Conservation Service (NRCS) until May 31 to improve water quality in coastal waters. The lower Suwannee watersheds are Long Pond and Long Pond Slough in Levy County and the North Old Town Hammock watershed in Gilchrist and Dixie counties. If landowners show interest, NRCS proposes funding …
U.S. Cattle on Feed Up 5 Percent
The U.S. Department of Agriculture’s April Cattle on Feed Report indicates the number of cattle and calves on feed for the slaughter market in the U.S. for feedlots with capacity of 1,000 or more head totaled 11.9 million head on April 1, 2021. The inventory was 5 percent above April 1, 2020 and is the second highest April 1 inventory …
Fertilizer Costs Shape Crop Production Expenses
The Department of Agriculture’s Economic Research Service reports production costs for corn and other major commodities are shaped by fertilizer cost. From 2010 to 2019, fertilizer was a major expense in U.S. corn production, accounting for 33 to 44 percent of operating costs-a category that includes other variable expenses like seed, chemicals, fuel, and repairs. Fertilizer also comprised 16 to …
USDA Providing Outreach Funding
This week, the U.S. Department of Agriculture (USDA) Farm Service Agency (FSA) announced the availability of $2 million to establish partnerships with organizations to provide outreach and technical assistance to socially disadvantaged farmers and ranchers. Tyron Spearman has more information. Visit farmers.gov/cfap for details on all eligible commodities, producer eligibility, payment limitations and structure and additional program resources. Sponsored ContentFlorida …
Vilsack: Modifying CFAP to Get Help to Folks
Back on March 24th, U.S. Secretary of Agriculture Tom Vilsack announced an expansion of the Coronavirus Food Assistance Program (CFAP-2). It’s part of a larger effort by the U.S. Department of Agriculture (USDA) to reach a greater share of farming operations and improve USDA pandemic assistance. Secretary Vilsack told Southeast AgNet’s Randall Weiseman they’ve been looking at ways to expand assistance to producers. Vilsack …
Ag Economy Barometer up 12 Points
The Ag Economy Barometer rose in March to 177, the highest reading for the barometer since the record high reading of 184 in October. Organizers say this month’s 12-point rise in the barometer was attributable almost entirely to ag producers’ more optimistic view of the future. The Index of Future Expectations climbed to 164, 16 points above February’s index. Although …