Union Pacific CEO Lance Fritz says trade disruptions are threatening to undermine an otherwise robust economy. The rail company, headquartered in Omaha, Nebraska, told the Omaha World-Herald that the current trade disruption: “Affects the 7,300 communities Union Pacific serves.” Specifically, the North American Free Trade Agreement (NAFTA) renegotiation effort is harming U.S. railways. About 40 percent of Union Pacific traffic …
USDA Partners to Improve Rural Water Infrastructure
Assistant to the Secretary for Rural Development Anne Hazlett announced that the U.S. Department of Agriculture (USDA) is investing $267 million in 103 infrastructure projects (PDF, 298 KB) to upgrade water and wastewater systems in rural communities. “Robust, modern infrastructure is foundational for quality of life and economic opportunity – no matter what zip code you live in,” Hazlett said. “Under Secretary …
Cooperative Wants Price Floors on Dairy Products
While low milk prices and a trade war continue to make things difficult for America’s dairy farmers, a northeast U.S. cooperative is asking the government to step in and help boost milk prices. Agri-Mark, which represents over 900 members, sent a letter to Ag Secretary Sonny Perdue asking him to implement price floors for butter, cheese, and nonfat dry milk. …
Agri View: California and Other State Losses in a Trade War
The talk of a trade war has had an impact on every commodity. What about its impact on agriculture. Everett Griner talks about California and their expanding losses from the trade war and tariff talk in today’s Agri View. California and Other State Losses in a Trade War Efforts to settle this trade war between China and our country, farmers …
Agri View: Understanding How Farm Subsidies Work
Farm subsidies is something a lot of us know little to nothing about. Everett Griner talks about subsidies and how they keep keeping farms going in today’s Agri View. Everett also explains a bit about the impact tariffs have on farm subsidies. Understanding How Farm Subsidies Work Anyone who knows anything at all about modern agriculture knows that farmers depend …
Rural Mainstreet Economy Expands for June
The Creighton University Rural Mainstreet Index measured above growth neutral in June for a fifth straight month. This is the first time since July 2015 the survey has recorded five straight months of overall indices above growth neutral, according to the monthly survey of bank CEOs in rural areas of a Midwest dependent on agriculture. However, the overall index slid …
Farm Credit Outlook Shows Prices for Grains to Strengthen
An outlook presented to the Farm Credit Administration shows corn and soybean prices are projected to strengthen, boosting profit margins for crop farmers. The report shows profit margins are expected to decline for livestock producers though, as rising grain prices drive up feed costs, and Southwest pasture conditions deteriorate because of severe drought. The quarterly report also notes that uncertainties …
Ag Economy Barometer Monthly Results
Farmers showed more optimism in the latest Purdue University/CME Group Ag Economy Barometer. The May survey reading was 141, 16 points higher than April and the highest since January of last year. A rating below 100 is negative, while a rating above 100 indicates positive sentiment regarding the agriculture industry. The rise in the barometer, a sentiment index derived from …
Rural Mainstreet Index at Highest Point in Five Years
The Creighton University Rural Mainstreet Index climbed above growth neutral in May for the fourth-straight month. The index surveys bank CEOs in rural areas across a ten-state region that depends on agriculture or energy to power its economy. It’s the first time since 2015 that the index readings have been above growth-neutral in four consecutive months. The growth index rose …
RVP Period Begins Friday as Fuel Prices Climb Higher
Friday is the beginning of the Reid Vapor Pressure (RVP) restriction on E15 sales across most of the country during the summer driving season. The restriction runs from June 1 to September 15. It comes at a time when American drivers would benefit greatly from some relief at the pump. Instead, consumers are barred from purchasing lower cost fuel at …