Southeast AgNet’s Randall Weiseman talked to USDA Risk Management Agency (RMA) Administrator Marcia Bunger, and the virtual event coming up next Tuesday. The U.S. Department of Agriculture (USDA) Natural Resources Conservation Service (NRCS) encouragesproducers and industry leaders to attend an upcoming virtual workshop about the Whole-Farm RevenueProtection (WFRP) and Micro Farm insurance options, scheduled for Tuesday, Dec. 13 at 11 …
Farmer Sentiment Unchanged Despite High Costs, Rising Interest Rates
There wasn’t much movement in the November Purdue University/CME Group Ag Economy Barometer. The index read 102 for the month, unchanged from October. However, the Current Conditions Index dropped three points to 98, while the Future Expectations Index rose two points to a reading of 104. Even though producer sentiment was the same in November, producers are continuing to look …
Farm Income Rising
USDA projects 2022 calendar year net farm income up nearly $20 billion, or 13.8 percent from 2021. American Farm Bureau Federation Senior Economist Veronica Nigh explains what is driving the increase. “Predominantly, this is a price play with 97 percent of that increase in cash receipts attributable to increases in price. Now, it’s not just all inflation either, because when …
Congressional Vote on Rail Strike a Welcome Development
(NCGA/November 30, 2022) — The U.S. House of Representatives voted to block a national rail strike that would have dire consequences for the nation’s economy. The vote comes as the country continues to struggle with supply-side issues and problems with key transportation hubs, including low-water levels along the Mississippi River. The National Corn Growers Association said the vote was a …
Farm Share of U.S. Food Dollar Reached Historic Low in 2021
U.S. farm establishments received 14.5 cents per dollar spent on domestically produced food in 2021—a decrease of 1.0 cent from a revised 15.5 cents in 2020. The figure is the lowest recorded farm share value in nearly three decades, according to USDA’s Economic Research Service. The remaining portion of the food dollar—known as the marketing share—covers the costs of getting …
Farm Loan Interest Rates Rise Sharply
Farm loan interest rates increased sharply during the third quarter. The Federal Reserve Bank of Kansas City says despite the high borrowing costs, farm real estate values continued higher. However, the rate of increase slowed in the quarter. Following consistently higher increases earlier in 2022, the value of farmland in most Districts grew at a slightly slower pace during the …
USDA Announces Plans for a Section 32 Purchase of American Lamb Products
Last week, the U.S. Department of Agriculture (USDA) announced plans for a Section 32 purchase of American lamb products for distribution to various food nutrition assistance programs. The purchase was a request by the American Sheep Industry Association (ASI) and the National Lamb Feeders Association earlier this year. Support for the purchase also came from congressional delegations from several Western states in recent months. “We …
Another Record Land Sale in Iowa
Iowa set another record for farmland sales. Seventy-three acres of high-quality farmland in Sioux County, Iowa, sold for $30,000 per acre at auction on November 11. That’s a total sale worth $2.195 million. That’s just part of a new $30,000-per-acre club in Iowa. A local farmer was the buyer, and the runner-up was also a farmer. A statement from Iowa …
NFU Releases 2022 Farmer’s Share of Thanksgiving Food Dollar
How much do farmers make for that Thanksgiving meal? That’s coming up on This Land of Ours. National Farmers Union (NFU) released the 2022 Farmer’s Share of the food dollar for several items typically served for the Thanksgiving holiday. Included in the 2022 Thanksgiving Farmer’s Share numbers are: Even though consumers are paying more for food this year, almost none …
Farm Milk Prices Likely to Fall Next Year as Output Grows
As we look ahead to next year, those in the dairy industry wonder what the prospects are for operators in 2023. Gary Crawford has a story that helps answer that question. Sponsored ContentNuseed Carinata Covers New GroundJuly 31, 2024CIR Agriculture Harvester ProductsJuly 1, 2024TriEst Ag Group: Partners in ProfitabilityApril 1, 2024