Earlier this month, Bloomberg News reported that, “African swine fever is re-emerging in Asia, threatening to upend efforts to replenish national herds after the virus killed tens of millions of pigs in the region and created a huge shortage of meat protein.”
Keith Good
Keith Good is the Farm Policy News editor for the farmdoc project. He has previously worked for the USDA’s National Agricultural Statistics Service, and compiled the daily FarmPolicy.com News Summary from 2003-2015. He is a graduate of Purdue University (M.S.- Agricultural Economics), and Southern Illinois University School of Law.
FAPRI Baseline: University of Missouri Analysts See Signs of Optimism in Agricultural Market Outlook
A news release on Friday from the University of Missouri indicated that, “Farm income could decline in 2021, in spite of large increases in the value of crop and livestock sales, according to the latest analysis of national and global agricultural trends from the University of Missouri. Lower government payments and higher farm production costs could outweigh the increase in sales.”
Senate Ag Committee Explores Climate Change Issues with Farmers
On Thursday, the Senate Agriculture Committee held a policy hearing on climate change issues (“Farmers and Foresters: Opportunities to Lead in Tackling Climate Change”).
Farm Exports to China Surge as Logistical Concerns Over Shipping Containers Emerge
Wall Street Journal writer Jesse Newman reported on Wednesday that, “China is once again the U.S.’s chief customer for agricultural goods, three years after the start of a bruising trade war that prompted American farmers to try to wean themselves off their biggest market.”
American Rescue Plan and Agriculture, Measure Includes Billions in Aid for Disadvantaged Farmers
Laura Reiley reported on the front page of today’s Washington Post that, “A little-known element of President Biden’s massive stimulus relief package would pay billions of dollars to disadvantaged farmers — benefiting Black farmers in a way that some experts say no legislation has since the Civil Rights Act of 1964.”
African Swine Fever Issues Persist, Hog Prices Rise
Late last month, Bloomberg News reported that, “China’s farm ministry is touting a complete recovery in pig numbers from the ravages of African swine fever by the middle of the year. Fresh outbreaks of the virus and other lethal pig diseases could pose risks to that outlook.”
FAO Food Price Index Climbs, While Some See Continued Strong Chinese Demand for Agricultural Commodities
Late last week, Bloomberg writers Megan Durisin and Agnieszka de Sousa reported that, “The surge in food prices that’s eating into consumer budgets and hitting some of the poorest nations shows few signs of abating.”
Federal Reserve: Observations on the Ag Economy- February 2021
On Wednesday, the Federal Reserve Board released its February 2021 Beige Book update, a summary of commentary on current economic conditions by Federal Reserve District. The report included several observations pertaining to the U.S. agricultural economy.
Recent NASS Reports Provide Insight Into the Agricultural Sector and Farm Economy
The USDA’s National Agricultural Statistics Service (NASS) released several reports over the past few weeks that provide helpful insight into segments of the U.S. agricultural economy and farm sector. Today’s update highlights some of these reports, which include details on U.S. farm characteristics, farms and land in farms, crop values, and agricultural prices.
Climate Change: An Income Opportunity for Farmers- Perspective from Sec. Vilsack and House Lawmakers
Writing on the front page of Saturday’s Des Moines Register, Donnelle Eller reported that, “U.S. and Iowa farmers need new sources of income, and the work producers need to do to battle climate change can help provide it, newly sworn-in U.S. Agriculture Secretary Tom Vilsack told the Des Moines Register on Friday.”
Senate Confirmation Hearing for USTR Nominee Katherine C. Tai, China Issues in Focus
On Thursday, the Senate Finance Committee held a confirmation hearing for U.S. Trade Representative nominee Katherine C. Tai.
Senate Confirms Tom Vilsack as Secretary of Agriculture
Reuters writer Tom Polansek reported on Tuesday that, “The U.S. Senate on Tuesday confirmed Tom Vilsack to head the Department of Agriculture, returning the former Iowa governor to the job he held under ex-President Barack Obama.”
EPA Supports Tenth Circuit’s Renewable Fuels Association Decision- Action Viewed As a “Win” for Farmers
Reuters writer Stephanie Kelly reported on Monday that, “The U.S. Environmental Protection Agency said on Monday that it agrees with an appeals court’s decision last year that cast doubt on a program that granted oil refiners exemptions to U.S. biofuel blending laws.”
The 2021 Outlook for U.S. Agriculture From USDA’s Chief Economist
Speaking on Thursday at USDA’s virtual Agricultural Outlook Forum, USDA Chief Economist Seth Meyer provided a broad outlook for U.S. agriculture. Today’s update provides an overview of key aspects of Dr. Meyer’s presentation.
Winter Storms Take Heavy Toll on Agriculture
Wall Street Journal writer Jacob Bunge reported on Thursday that, “Brutal winter weather continued to batter the U.S. agriculture industry, as companies and farmers contended with snow, ice and cold temperatures that disrupted processing, snarled transport and killed livestock across the Midwest and South.”
USDA Agricultural Projections to 2030- Focus on Corn, Soybeans
On Tuesday, the U.S. Department of Agriculture released its 10-year projections for the food and agricultural sector.
Federal Reserve Ag Credit Surveys- 2020 Fourth Quarter Farm Economy Conditions
Last week, the Federal Reserve Banks of Chicago, Kansas City and Minneapolis released updates regarding farm income, farmland values and agricultural credit conditions from the fourth quarter of 2020.
Projected U.S. Corn Exports and Prices Rise, But Will “Rampant” Chinese Demand Continue
Financial Times writers Emiko Terazono and Sun Yu reported last week that, “Record purchases by China have sent corn prices soaring since the end of last year, leaving farmers and analysts pondering how long the surge can be sustained.”
House Agriculture Committee Passes Ag Portion of FY21 Budget Reconciliation Bill
DTN Ag Policy Editor Chris Clayton reported on Wednesday that, “The $1.9 trillion relief plan moving through the House of Representatives has roughly $16.1 billion in specific provisions for USDA — mainly for nutrition programs — but boosts in agricultural aid steered toward buying commodities or supporting minority or socially disadvantaged farmers and ranchers.”
2021 Farm Sector Income Forecast, February
The USDA’s Economic Research Service (ERS) indicated on Friday that, “Net farm income, a broad measure of profits, is forecast to decrease $9.8 billion (8.1 percent) from 2020 to $111.4 billion in 2021.”