(NAFB) — Farm Journal recently conducted a study that encompassed all sectors of agriculture. What they found was farmers are paying more in wages than at any point in history. They’re more efficient in using their available labor. However, they’re still frustrated. The survey of more than 2,100 farmers included almost 200 dairy farmers. Of the total producers, 87 percent …
Small Family Farms and Off-Farm Income
Several small-sized farms in the United States rely on the principal operator or spouse to bring in off-farm income, but how does that affect the farm’s bottom line? Rod Bain has the story. Sponsored ContentCIR Agriculture Harvester ProductsNovember 1, 2024Nuseed Carinata Covers New GroundOctober 1, 2024TriEst Ag Group: Partners in ProfitabilityApril 1, 2024
House, Senate, Pass Ag Spending Package
(NAFB) — The House and Senate this week came together in passage of spending bills for fiscal year 2020. Senate Appropriations Committee Chairman Richard Shelby, an Alabama Republican, says, “bipartisan cooperation has made this possible.” The spending package for agriculture includes $23.5 billion in discretionary funding, $451 million above fiscal year 2019 enacted levels. It also includes $1.5 billion in …
House Approves Spending Package for Agriculture
(NAFB) — The House of Representatives Tuesday advanced a spending package that will extend the biodiesel tax credit and offer additional disaster aid to farmers. The American Soybean Association says the biodiesel tax credit will “expand markets for soybean growers.” The tax credit expansion is part of a tax package amendment included in a funding bill for the Department of …
Farm Credit Administration: Expect Low Crop Prices in 2020
(NAFB) — A quarterly report to the Farm Credit Administration last week suggests commodity prices will mostly remain low next year. The report cites large global supplies of crops in storage, saying that will limit attractive price opportunities for U.S. farmers. For the next three years, soybean prices are projected at roughly $8.50 a bushel, with corn at $3.70 a …
November Ag Economy Barometer Released
(NAFB) — The Purdue/CME Group Ag Economy Barometer rose in November for the second month in a row, climbing to 153, 17 points higher than in October when the index stood at 136. This month’s rise in the ag economy sentiment index left the barometer tied with July for the highest reading of 2019. Once again, the rise was driven …
Farmers Turning to Riskier Loans to Stay in Business
(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 …
COUNTRY Financial Invests in Agriculture
COUNTRY Financial continues to invest in agriculture in many states, including Alabama and Georgia. Their Farm Underwriting Manager, Craig Conroy, recently discussed with Southeast AgNet’s Randall Weiseman how the company started, and why they find it valuable to visit and know what is going on at each farm they serve. Sponsored ContentCIR Agriculture Harvester ProductsNovember 1, 2024Nuseed Carinata Covers New GroundOctober 1, 2024TriEst Ag …