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Shining Light on Farm & Food Policy for 20 Years.
Saturday, November 23, 2024
USDA is due out today with its latest forecast for farm income, and the numbers are expected to be bad. Look for more new calls for Congress to pass a new farm bill to shore up incomes of row crop producers.
Former President Donald Trump, outlining his economic agenda Thursday, said he would use a second term to ensure Americans have "safe, healthy, high quality foods"' through the use of "new and modern agricultural techniques."
The Agriculture Department has sharply raised its forecast for farm earnings this year, projecting that net farm income will fall by close to 7% from 2023, a far smaller decline than USDA economists had estimated in February.
The fate of a 500,000-head capacity Superior Farms plant, estimated to represent between 15% and 20% of the nation’s total lamb processing capacity, will soon be in Denver voters’ hands as they consider a referendum that would shut down its operations by 2026 and ban any future meatpacking businesses from entering the city and county.
Farmers’ outlook dimmed sharply in August as commodity prices dropped amid prospects for bumper crops this fall, according to the latest Purdue University-CME Group Ag Economy Barometer.
When it comes to trade policy and climate, there are few indications an administration led by Vice President Kamala Harris will be much different from the one she has been a part of for four years.
Farm equipment suppliers such as Deere & Co. have been shedding jobs and other agribusiness giants are reporting weaker business prospects in North America, a potential harbinger of continued softness in farm income as producers head out to harvest crops this fall.
Major rail carriers have made major gains in improving service over the past couple of years, but the fluidity of their lines will be tested in the next few months as they look to transport thousands of carloads of freshly harvested corn, soybeans, wheat and other crops across the country.
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