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Below you'll find a list of all posts that have been categorized as “Economy”
Agricultural producers who have coverage under most crop insurance policies are eligible for a premium benefit from the U.S. Department of Agriculture (USDA) if they planted cover crops during this crop year. The Pandemic Cover Crop Program (PCCP), offered by USDA’s Risk Management Agency (RMA), helps farmers maintain their cover crop systems, despite the financial challenges posed by the pandemic. …
The Purdue University/CME Group Ag Economy Barometer tumbled significantly in May, dropping 20 points to an index reading of 158. It marks the lowest point for the survey since September of 2020. Producers were less optimistic about both the current conditions and the future of the agricultural economy. The potential for changing tax rules and rising input costs appeared to …
Further strengthening of the U.S. Ag economy bolstered farm credit conditions in the first quarter of 2021. A Federal Reserve survey of agriculture credit conditions shows farm loan repayment rates continue to improve rapidly. After many years of growing financial stress and weakness in the Ag economy, bankers reported that farm income was higher than a year ago for the …
Senate Agriculture Committee Chair Debbie Stabenow is urging the Department of Agriculture (USDA) to implement American Rescue Plan provisions to protect food and farm workers. In a letter to Agriculture Secretary Tom Vilsack, Stabenow states the American Rescue Plan “included resources so that the people who power our food and ag supply chain are protected and have the resources they …
The Association of Equipment Manufacturers (AEM) says there are several factors driving the current machinery sales trends. In the first quarter of 2021, total farm tractor unit sales are up more than 50 percent in the U.S., and nearly 60 percent in Canada. AEM’s Curt Blades says, “We’re operating in a very interesting market right now.” Over the last 12 …
Florida Agriculture Commissioner Nikki Fried joined U.S. Department of Agriculture Deputy Assistant Secretary for Civil Rights Monica Rainge, U.S. Representative Al Lawson, Jr. (FL-5), and others to highlight historic American Rescue Plan provisions that provide $4 billion in debt relief to socially disadvantaged farmers, ranchers, and growers. They were joined at the Florida A&M University (FAMU) Research and Extension Center in Quincy, Florida by FAMU President Larry Robinson, Ph.D., …
The National Cotton Council (NCC) recently joined 40 other agriculture organizations on a letter to House and Senate leadership to express significant concerns about legislative proposals that would jeopardize the future of family-owned farm and ranch businesses. NCC Vice President of Washington Operations, Reece Langley, explains how the Council is working to protect current tax policy for farmers and others in agriculture. …
A new crop estimate by USDA indicates the demand for peanuts should tighten the market. Tyron Spearman has the details.
A bipartisan group of Representatives sent a letter to U.S. Trade Representative Katherine Tai and Ag Secretary Tom Vilsack regarding dairy and the U.S-Mexico-Canada Agreement. They’re asking the administration to move ahead with enforcement measures negotiated in the USMCA to support U.S. dairy farmers. A key part of the USMCA agreement was the promise of new export opportunities for America’s …
The USDA says it plans to make debt relief available to Black farmers. The announcement came one day before Ag Secretary Tom Vilsack participated in a roundtable discussion with Black farmers in Georgia. A spokesman says Vilsack will be traveling to other states to discuss the plan in the weeks ahead. Late last week, the Farm Service Agency published the …
