How is weather affecting crops and stocks? Here’s Mark Oppold looks into it.
Economic Research Service: Farm Income Decline Varies by Region
After reaching recent highs in 2021 and 2022, the average net cash income of U.S. farm businesses is expected to decline by 18 percent in 2023 compared with 2022. Farm businesses across the country are forecast to see higher production expenses, lower cash receipts, and lower Government payments in 2023, resulting in lower expected average net cash farm income. However, …
Smaller U.S. Cattle Herd Squeezing Meatpacker Profits
America’s beef cow herd hasn’t been this small since 1962. Drought and the high cost of feed forced producers to cut their herd sizes instead of keeping animals for breeding. Livestock producers who fatten cattle suddenly have leverage over meatpackers as they negotiate cattle prices with organizations like Tyson Foods, JBS, and Cargill. U.S. News says meat processors are assessing …
Ag Exports in 2021 Generate Billions in Economic Activity
How much do ag exports contribute to the nation’s economic activity? That’s coming up on This Land of Ours. A new USDA report says exports constitute a significant market for American farm and food products and send ripples of activity through the nation’s economy. The USDA Economic Research Service (ERS) says America’s agricultural exports, valued at $177.3 billion in 2021, …
Some Food Prices Rise in April
Some food prices are creeping up again. That’s coming up on This Land of Ours. The United Nations Food and Agriculture Organization reports that food prices rose in April for the first time in a year. The organization says the increases stem from higher sugar, meat, and rice prices. The Food Price Index, which tracks the international prices of commonly-traded …
Farm Sector Real Estate Debt Hits Record High
New data from USDA’s Economic Research Service shows farm sector debt tied to real estate is expected to be at a record high of $375.9 billion in 2023. Farm sector real estate debt has been increasing continuously since 2009 and is expected to reach an amount that is 87.5 percent higher in 2023 compared with 2009 in inflation-adjusted dollars. Real …
Ag Economy Barometer: Farmer Sentiment Improves
Farmer sentiment improved modestly in April as the Purdue University-CME Group Ag Economy Barometer reversed a two-month decline, up six points to 123. The Current Conditions Index rose three points to 129, while the Index of Future Expectations rose seven points to 120. More producers expect prime interest rates to either hold steady or possibly decline during the next 12 …
Preparing For Another Interest Rate Hike
Wall Street is preparing for another interest rate hike from the Fed. Mark Oppold has more details.
Additional Assistance for Farm Loan Borrowers
There’s more assistance on the way for some farm loan borrowers. That’s coming up on This Land of Ours. The U.S. Department of Agriculture (USDA) Farm Service Agency (FSA) announced, on May 1, 2023 (see below News Release), that nearly $130 million in additional, automatic financial assistance has been obligated for qualifying farm loan program borrowers who are facing financial …
World Bank: Commodity Prices to Drop Through 2024
Look for a drop in commodity prices through next year. That’s coming up on This Land of Ours. Global commodity prices are expected to drop this year at the fastest clip since the beginning of COVID-19. A World Bank report says that clouds the prospective growth of approximately two-thirds of the developing economies that depend on exports. The Commodity Markets …