America loves its bacon, and that love is pushing pork belly prices to record highs. Prices for the part of the hog that’s used to make bacon have jumped roughly 80 percent higher this year. This comes in spite of frozen reserves at a low not seen in sixty years. Market research firm Nielsen says Americans bought 14 percent more …
U.S. Winter Wheat Harvest Forecast Improves
As the American wheat harvest rolls along, the government forecast last week calls for growers to bring in 1.28 billion bushels of winter wheat. The latest projection is two percent higher than the previous month’s forecast, but it’s still 23 percent lower than 2016. The forecast based on July 1 conditions projects a 49.7 bushel per acre average. Hard red …
China Purchasing Near Record Number of U.S. Soybeans
A Chinese delegation signed contracts on Sunday to purchase a large amount of U.S. soybeans. The contract is for the purchase of 460 million bushels of U.S. soy worth more than $5 billion. It’s a large increase from the $1 billion contract signed a year ago at this time. The delegation of Chinese buyers represents 11 different companies. China has …
Ag Lenders Pessimistic About Farm Profits
Farmers are still feeling the pressure of a lagging farm economy. A joint survey from the American Bankers Association and the Federal Ag Mortgage Corporation confirms the pressure. Nearly 90 percent of ag lenders report an overall decline in farm profitability over the last year. 84 percent indicate there are higher levels of operating leverage as a result. The survey …
Farmers Worried about the Future of Health Care
It may not be front and center in agriculture like the farm bill discussion is, but farmers have a lot to worry about as Congress debates the future of health care. Politico’s Morning Ag Report says farmers have been struggling for some time with low commodity prices and a sharp drop in farm income. In turn, that’s led to a …
China Approves More GMO Crops
China’s Ministry of Agriculture announced it has approved two more genetically modified crops for import into the country. A Reuters article says it’s the second move in the past month to expand access to biotech seeds as a part of Beijing’s 100-day trade talks with Washington. The Ministry approved Syngenta’s 5307 insecticide-resistant corn sold under the Agrisure Duricade brand. It …
Conaway Applauds Trump Administration’s NAFTA Plan
House Agriculture Committee Chairman K. Michael Conaway (TX-11) applauded U.S. Trade Representative (USTR) Robert Lighthizer’s newly-released NAFTA objectives detailing the administration’s plans to expand market opportunities and tighten enforcement of trade obligations to protect U.S. agriculture producers. Upon the release of the plan, Chairman Conaway made the following remarks: “As the administration looks to highlight American-made products this week, there …
USTR Releases NAFTA Negotiating Objectives
United States Trade Representative Robert Lighthizer today released a detailed and comprehensive summary of the negotiating objectives for the renegotiation of the North American Free Trade Agreement (NAFTA). Through the renegotiation of NAFTA, the Trump Administration will seek a much better agreement that reduces the U.S. trade deficit and is fair for all Americans by improving market access in Canada …
Ag Groups, Perdue Applaud Censky Nomination
Agriculture groups, along with Agriculture Secretary Sonny Perdue applauded President Donald Trump’s nomination of Steve Censky as Deputy Agriculture Secretary. The nomination was rumored for months. The White House described Censky as a Missourian since he has lived for many years in the suburbs of St. Louis where ASA is headquartered, but Censky grew up on a soybean, corn and …
Cary Lightsey to Judge 2017 Farmer of the Year Awards
Swisher Sweets/Sunbelt Expo Southeastern Farmer of the Year Cary Lightsey of Lake Wales, Fla., has been selected as the newest judge of the prestigious Swisher Sweets/Sunbelt Expo Southeastern Farmer of the Year awards. This year as a judge, he will join farmer Thomas Porter, Jr., from Concord, N.C., and Charles Snipes of Greenville, Miss., in visiting the farms of the …