(NAFB) — Weather challenges, trade tensions, and long-term financial struggles continue to make life difficult in the U.S. agricultural sector. The Wall Street Journal says those headwinds are forcing an increasing number of farmers and ranchers to take on high-interest loans from lenders outside of the ag sector, just to stay in business. The more traditional farm banks are offering …
Ag Lender Survey Shows Lower Profitability and Higher Concerns
(NAFB) — The American Bankers Association teamed up with Farmer Mac for their Fall 2019 Ag Lender Survey. The biggest takeaway from the report is that the agricultural economy and farm income remain under stress, with little if any signs of improvement ahead in 2020. Over 82 percent of lenders in the survey said farm profits were being squeezed this …
Perdue Hoping Trade Aid Payments Unnecessary in 2020
(NAFB) — Ag Secretary Sonny Perdue is hoping that a third round of trade aid payments to farmers will be unnecessary in 2020 because of a new trade deal with China. The Hagstrom Report says Perdue spoke with reporters shortly after returning from a “successful” trade mission to Mexico. Farmers “would rather have trade than aid,” Perdue says. At the …
Justice Department Asks for Stay in Sugar Decision
(NAFB) — Late last week, the U.S. Justice Department filed a motion requesting a 90-day stay in the Court of International Trade’s ruling that an amended Mexico-U.S. trade agreement wasn’t valid. The Hagstrom Report says an agreement on Mexican sugar imports to the U.S. was amended in 2017. However, the court said that the amended agreement wasn’t valid because the …
America’s Largest Milk Producer Files for Bankruptcy
(NAFB) — Dean Foods, a 94-year-old milk producer, is filing for bankruptcy. The largest milk producer in the country is struggling as Americans are no longer drinking as much milk from cows. This year has been especially difficult as company sales dropped seven percent in the first half of this year, with profits falling 14 percent. A CNN Dot Com …
USDA Set to Allow Chinese Poultry Imports as a Sign of Progress
(NAFB) — The U.S. Department of Agriculture (USDA) is taking steps to allow poultry imports from China. Farm Progress Dot Com says it’s a sign of ongoing progress in the talks between Washington and Beijing that will hopefully lead to a resolution in their trade dispute. The new regulation covers birds as well as poultry parts and products slaughtered in …
Everglades: Soil Mapping the River of Grass
(USDA/NRCS Florida) — In the south Florida sweltering heat, soil scientists Craig Prink and Martin Figueroa suit up in long-sleeved shirts, long pants, hats, and tightly wrap bandanas around their faces to protect against the sun, water glare, and insects. Heavy gloves and neoprene footwear keep the serrated-edged sawgrass from slicing their skin when they wade through the water. They …
September Beef Exports Steady; Pork Higher but Pace Slowing
(NAFB) — September exports of U.S. beef were steady with last year’s volume, but the export value was trending lower. That’s according to USDA data compiled by the U.S. Meat Export Federation (USMEF). Pork exports were above last year’s levels in September but had pulled back from the larger totals in June, July, and August. September beef exports were just …
Trump says No Agreement with China on Easing Tariffs Yet
(NAFB) — Late last week, the Chinese government stated that the U.S and China had reached an agreement to begin rolling back tariffs after a phase one trade deal is signed. That statement led to some optimism and a jump upward in financial markets. Politico says it was just 24 hours after that when President Donald Trump poured “cold water …
NCBA VP: “Why Sustainability?”
By Ethan Lane, Vice President, Government Affairs, NCBA When the topic of sustainability comes up in conversation in cattle circles, it’s common to see heads shaking. It’s not a topic we like to discuss in our industry – primarily because it’s so often raised with bad intentions and worse information. We bristle because we’ve been doing things right in our …