(NAFB) — The House and Senate this week came together in passage of spending bills for fiscal year 2020. Senate Appropriations Committee Chairman Richard Shelby, an Alabama Republican, says, “bipartisan cooperation has made this possible.” The spending package for agriculture includes $23.5 billion in discretionary funding, $451 million above fiscal year 2019 enacted levels. It also includes $1.5 billion in …
House Approves Spending Package for Agriculture
(NAFB) — The House of Representatives Tuesday advanced a spending package that will extend the biodiesel tax credit and offer additional disaster aid to farmers. The American Soybean Association says the biodiesel tax credit will “expand markets for soybean growers.” The tax credit expansion is part of a tax package amendment included in a funding bill for the Department of …
Farm Credit Administration: Expect Low Crop Prices in 2020
(NAFB) — A quarterly report to the Farm Credit Administration last week suggests commodity prices will mostly remain low next year. The report cites large global supplies of crops in storage, saying that will limit attractive price opportunities for U.S. farmers. For the next three years, soybean prices are projected at roughly $8.50 a bushel, with corn at $3.70 a …
Agricultural Outlook Hopeful as New Year Approaches
Some of the brightest minds in agriculture met Dec. 10 in Auburn to share ideas, discuss research and learn more about the current global agricultural outlook. Alabama Extension partnered with Auburn University’s Department of Crop, Soil and Environmental Sciences to bring a wide variety of speakers to the Alabama Row Crops Short Course to share updates with Alabama farmers. Speakers …
Dairy Margin Coverage Enrollment Ends Friday
Dairy producers are being reminded enrollment in the Dairy Margin Coverage (DMC)Â program for calendar year 2020 ends this Friday, Dec. 13. The DMC program offers reasonably priced protection to producers when the difference between the all-milk price and the average feed cost (the margin) falls below a certain dollar amount selected by the producer. Dairy farmers earned more than $300 …
A Third of 2019 Farm Income Derived from Government Assistance
The overall 2019 farm income is projected to increase more than ten percent from last year, however much of the reason for the earnings growth is based on various assistance afforded to the agricultural industry. According to a report from USDA’s Economic Research Service (ERS), net farm income is forecasted at $92.5 billion for 2019, an increase of $8.5 billion …
November Ag Economy Barometer Released
(NAFB) — The Purdue/CME Group Ag Economy Barometer rose in November for the second month in a row, climbing to 153, 17 points higher than in October when the index stood at 136. This month’s rise in the ag economy sentiment index left the barometer tied with July for the highest reading of 2019. Once again, the rise was driven …
Livestock Cash Receipt Trends
USDA recently released the November 2019 Farm Income Forecast, which shows net farm income is forecast to increase $8.5 billion, or 10.2 percent, to $92.5 billion this year. USDA Chief Economist, Rob Johansson, looks at the livestock cash receipt trends for 2019 compared to 2018. Sponsored ContentFlorida Cattle Enhancement Board Encourages Research into Producers QuestionsJune 5, 2026Cattle Producers Proud of Efforts …
Dairy Margin Coverage Program Enrollment Deadline Nearing
Here is a reminder for dairy producers that enrollment in the Dairy Margin Coverage (DMC) for calendar year 2020 ends Dec. 13. The DMC program offers reasonably priced protection to dairy producers when the difference between the all-milk price and the average feed cost (the margin) falls below a certain dollar amount selected by the producer. Producers who want 2020 coverage, even …
Farmers Receive 12 Cents of the Thanksgiving Food Dollar
(NAFB) — Farmers and ranchers take home just 12.1 cents from every dollar that consumers spend on their Thanksgiving dinner meals, according to the National Farmers Union. NFU’s annual Farmer’s Share publication compares the retail food price of traditional holiday dinner items to the amount the farmer receives for each item they grow or raise. On average, farmers receive 14.6 …