A recent survey shows agriculture retailers are feeling the burden of fluctuating commodity prices. Low commodity prices and a volatile market stemming from trade concerns are on the minds of retailers, according to the survey published by Proagrica. 65 percent of respondents are feeling financial pressure due to fluctuating commodity pricing and competition. Elsewhere, 68 percent felt that enhanced management …
Ag Lenders Worried About Farmers
Depressed commodity prices, poor weather, and trade war ramifications aren’t just worrying for the nation’s farmers. The second quarter Agriculture Credit Conditions Survey from the Federal Reserve Bank of Minneapolis says ag bankers are worried as well. The report, which covers April through June, says farm income, spending on capital equipment, and household purchases all decreased. Nearly half of the …
Trump: “Farmers Are Doing Well”
President Trump spoke recently during a Cabinet meeting at the White House, saying farmers are starting to prosper. However, a Bloomberg article says the numbers tell a different story. “I hear they’re starting to do well in spite of everything,” the President said during comments from the meeting. “They’re selling corn, they’re selling soybeans, they’re selling everything, at levels that …
Producer Sentiment Plummets in July
Concerns over agricultural trade weighed heavily on producers’ current and future expectations of the agricultural economy. As a result, the Purdue/CME Group Ag Economy Barometer tumbled in July, dropping 26 points to a reading of 117. To paint a further bleak picture, the Index of Current Conditions fell from 138 in June down to 99, while the Index of Future …
Smithfield Foods Hit with Hefty Penalty in North Carolina
A federal jury in North Carolina decided on Friday that Smithfield Foods would have to pay a hefty dollar amount of $473.5 million dollars to neighbors of three of the company’s large hog farms. The neighbors had filed an unreasonable nuisance lawsuit because of odors, flies, and large trucks rumbling down the road. The jury says Smithfield owes the compensation …
Trade Assistance Details Still Being Worked Out
The Trump Administration announced its $12 billion plan to help farmers struggling under the escalating trade wars. Politico says there are still important details to be worked out, including just how much help farmers will get and how they’ll prove economic harm. More details are scheduled to come out after Labor Day. USDA Chief Economist Robert Johansson says soybean farmers, …
Perdue Announces Plan to Help Farmers Hurt by Tariffs
Agriculture Secretary Sonny Perdue has unveiled what he has called his “playbook” of programs to help farmers hurt by tariffs. Gary Crawford has the details. Perdue Announces Plan to Help Farmers Hurt by Tariffs And as Gary Crawford reports, USDA’s program to help farmers hurt by trade disruptions also serves some other functions in the process. Plan to Help Farmers …
Rural Mainstreet Index Chief Eyeing Two Economic Red Flags
The Rural Mainstreet Index has been steadily climbing over the last four months, signaling improving conditions in farm country. However, the man behind the RMI, Ernie Goss from Creighton University, says he has his eyes on two issues; trade and interest rates. A Farm Journal report says Goss credits exports as one of the biggest reasons for improving economic conditions, …
John Deere Raising Prices to Cover Steel Costs
Deere & Company is raising equipment prices in order to protect profits as costs rise. The farm and construction machinery manufacturer says profits were up 50 percent and equipment sales were up 34 percent annually in its latest quarter. However, a Dow Jones report says those numbers disappointed analysts. Deere’s share rose nearly six percent as investors are focusing on …
Purdue/CME Group Ag Economy Barometer Slips in April Report
The latest measure of producer mindset dipped lower in April. The Purdue/CME Group Ag Economy Barometer fell to 125 last month, which was ten points lower than a month earlier and 15 points below its February reading. Organizers say the sharp drop in the ag producer sentiment index was attributable to producers’ weakening perceptions of current conditions in the production …