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Below you'll find a list of all posts that have been categorized as “Economy”
The latest federal data shows that the farmers’ share of the average U.S. food dollar increased slightly. The USDA’s Economic Research Service tracks yearly spending by American consumers on food, as well as how much of that dollar is captured by each part of the food supply chain. The agency recently released data for 2019 showing that the foodservice industry …
Interest in buying agricultural land continues to grow after a COVID-19 slowdown blanketed the land market in 2020. A Farmers National Company release says farmers are feeling more financially secure because of rising commodity prices and large government payments last year. That is causing farmers to be more aggressive in bidding for additional land than has been the case during …
(TALLAHASSEE/June 2, 2021) — While pointing to an economic resurgence amid the coronavirus pandemic, Gov. Ron DeSantis on Wednesday used his line-item veto power to slash $1.5 billion as he signed a record $100 billion budget for the upcoming fiscal year. DeSantis described the spending plan as reflecting “a state government that is meeting the core concerns of Floridians,” during …
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. …
