Articles Tagged with ''Agriculture Department''

Congressional leaders have reached agreement on a $2 trillion economic rescue package that would replenish the Agriculture Department’s Commodity Credit Corp. authority and earmark additional money for livestock and specialty crop producers as well as local agriculture.

A massive economic stimulus bill that congressional leaders are rushing to finish could allow the Agriculture Department to provide multiple forms of aid to different sectors hit by the coronavirus epidemic as well as a fresh round of Market Facilitation Program payments, a key senator says.

Farm groups are lobbying Congress and the Trump administration for a number of relief measures to help producers cope with the slide in many commodity markets that has deepened as the COVID-19 pandemic worsens.

Local and regional agriculture and food markets stand to lose up to $688.7 million in sales through May because of the shutdowns caused by the COVID-19 pandemic, according to analysts familiar with the sector.

The White House is asking Congress for $45.8 billion to cover the rising cost to the Agriculture Department and other departments and agencies of responding to the coronavirus pandemic.

Commodity markets continue to skid and farmers are heading into planting season facing the prospect of a global recession spawned by the coronavirus pandemic that could further depress demand for key ag commodities, including meat and ethanol, economists say.

Federal agencies are cutting travel and preparing to operate with staff disruptions because of the coronavirus outbreak, and Agriculture Secretary Sonny Perdue signaled that he’s open to expanding feeding programs if Congress gives him the legal authority. 

The Market Facilitation Program has made a significant difference in liquidity for many farms across the country, including Midwest grain operations as well as cotton and rice growers, but many farms are still likely to end this year with negative ending cash, according to an analysis of the trade assistance.

A meeting of the government’s dietary guidelines advisers has been moved online and schools are being offered flexibility in feeding low-income kids as the Agriculture Department tries to grapple with the coronavirus outbreak. 

Agriculture Secretary Sonny Perdue says there is less than a 10% chance that farmers will get more Market Facilitation Program payments this year and that China is sending “signals” it intends to honor its pledges to ramp up purchases of U.S. farm commodities.