All of agriculture continues to wait for news from the farm bill conference committee concerning a new bill, knowing the current one expires at the end of the month. But National Cattlemen’s Beef Association (NCBA) Senior Vice President of Government Affairs, Colin Woodall, notes September 30 is also the end of the government’s current fiscal year, meaning all appropriation bills …
USDA Details Trade Damage Estimate Calculations
U.S. Secretary of Agriculture Sonny Perdue released a detailed accounting of how the U.S. Department of Agriculture (USDA) calculated estimated damage from trade disruptions. USDA’s Office of the Chief Economist developed an estimate of gross trade damages for commodities with assessed retaliatory tariffs by Canada, China, the European Union, Mexico, and Turkey to set commodity payment rates and purchase levels …
2019 Farmland Rental Rates Expected Steady with 2018
Farmland rental rates are not expected to change much in 2019. A new forecast by Farmers National Company predicts cash rental rates for 2019 to stay the same as 2018, for the most part. The company notes that despite current low grain prices, many farmers had the opportunity to forward price corn and soybeans at similar or better prices than …
August Rural Mainstreet Index Rises, Ag Worries Remain
The Creighton University Rural Mainstreet Index climbed above growth neutral in August for a seventh straight month. The monthly survey of bank CEO’s in ten Midwestern states climbed to 54.8 from 53.8 in July. The index ranges between 0 and 100 with 50.0 representing growth neutral. Organizer Ernie Goss says recent surveys show the Rural Mainstreet economy is expanding outside …
Tariffs Impacting Ag Equipment Manufactures, Dealers
A survey by the Association of Equipment Manufacturers finds steel and aluminum tariffs are harming the industry. The survey, primarily focused on the current new equipment inventory levels, shows both dealers and manufacturers are aware of the potential effect of steel and aluminum tariffs on the industry. The survey found that overall, new inventory numbers are favorable, when traditionally dealers …
USDA to Implement Regulatory Reforms to Increase Access to Capital in Rural Areas
Assistant to the Secretary for Rural Development Anne Hazlett announced that USDA is hosting listening sessions to solicit feedback on a plan to increase access to capital in rural areas by streamlining regulations for four Rural Development loan guarantee programs. “At USDA, we know that for many rural communities the regulations that govern our programs can be outdated and difficult to …
Could Bring a Slight Decline in Farm Sector Financial Health
The financial health of the farm sector could take another small hit this year. Gary Crawford has the story. 2018 Could Bring a Slight Decline in Farm Sector Financial Health-1 Rob Johansson, USDA Chief Economist, says the median income for farm households will likely fall this year for the fourth year in a row. 2018 Could Bring a Slight Decline …
Ag Economy Barometer improves in August
The Ag Economy Barometer rebounded in August to a reading of 129 after falling to 117 in July. However, producer sentiment remains well below its late spring readings of 141 in May and 143 in June. Organizers say the shift occurred primarily because producer’s perception of current conditions improved as the Index of Current Conditions increased to a reading of …
USDA Launches Trade Mitigation Programs
U.S. Secretary of Agriculture Sonny Perdue launched the trade mitigation package aimed at assisting farmers suffering from damage due to unjustified trade retaliation by foreign nations. Producers of certain commodities can now sign up for the Market Facilitation Program (MFP), while USDA will also begin to purchase identified commodities under a food purchase and distribution program. Additionally, USDA has begun …
Simplicity the Goal for Market Facilitation Program Sign-Up
Sign-up for the U.S. Department of Agriculture’s (USDA) Market Facilitation Program officially starts today, Sept. 4. The $12 billion package was put together to cover three phases. The first phase includes payments to producers, the second phase has USDA’s Agricultural Marketing Service administering a Food Purchase and Distribution Program to purchase commodities targeted by “unjustified” retaliation, and the third phase …