A deal reached on Sunday to fund the federal government through September, did not include assistance for programs sought by cotton and dairy producers. House Ag Committee Chairman Mike Conaway (R., Tex.) expressed disappointment with this result and reassured farmers and ranchers that he and many of his colleagues “are fully committed to correcting this wrong and seeing them through their current economic challenges.”
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.
Secretary Perdue Intervenes on NAFTA- Trade Issues Persist
During last week’s tumultuous developments on trade, news reports indicated that Secretary of Agriculture Sonny Perdue was providing President Trump with data driven advice with respect to NAFTA and agriculture, and urged him not to trigger a U.S. withdrawal from the trade accord. Nonetheless, recent remarks from a Senator from Mexico regarding corn imports, and potential NAFTA renegotiation issues means trade policy will likely remain an ongoing concern for Illinois producers and farmers throughout the U.S.
Low Farm Prices Impacting Ag Economy– Will Executive Branch Trade Policy Help?
A recent article from the Federal Reserve Bank of Minneapolis discussed the downward economic trajectory that has impacted the U.S. farm economy in recent years. Secretary of Agriculture Sonny Perdue, in remarks this week to USDA employees, noted that trade is an area that could help provide relief for surplus stocks. News reports yesterday indicated that President Trump could sign an executive action withdrawing the United States from the North American Free Trade Agreement; since NAFTA’s implementation, U.S. agricultural trade has grown significantly. However, subsequent news developments explained that Trump had decided not to pull out of NAFTA. Many in the agricultural sector are already anxious about U.S. trade policy, yesterday’s executive branch actions on trade may not alleviate ongoing concerns.
Lawmakers Discuss Farm Bill Issues
After a two week break, lawmakers returned to Washington, D.C. this week to face a variety of issues, including a Senate confirmation vote for Sonny Perdue to be the new Secretary of Agriculture, as well as a looming federal budget deadline on Friday. While on Easter recess, several lawmakers had the opportunity to discuss the next Farm Bill and agricultural policy issues with constituents. Topics included: cotton support, dairy, trade, crop insurance, and conservation policy.
U.S. Ag Economy: Kansas City Fed Reports; and, Ag Export Competitiveness
The Federal Reserve Bank of Kansas City released two interesting reports this month that provide timely insights into the U.S. agricultural economy. The first report took a closer look at crop inventories and agricultural finance, while the second update included recent analysis on farm lending. Meanwhile, a front page article in Friday’s Wall Street Journal highlighted issues associated with America’s agricultural export competitiveness in the global market.
Federal Reserve: Observations on the Ag Economy- April ’17
On Wednesday, the Federal Reserve Board released its April 2017 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.
U.S. Dairy Trade Issues- Trump Weighs In
Recall that a FarmPolicyNews update last week noted that a trade dispute with Canada over dairy policies related to ultra-filtered milk is adversely impacting some dairy farms in Wisconsin, Minnesota, and New York, and some of these dairy farms could be forced out of business as a result. Today’s update highlights additional news developments on the Canadian dairy dispute, including remarks on the issue from President Trump, as well as concerns the U.S. dairy sector has with exports to Mexico.
Agricultural Trade and Trump
Many agricultural producers have expressed concern over the direction of executive branch trade policy since January. These apprehensions may not be universally shared in all quarters of Rural America; however, tariffs and other trade restrictions are important considerations for U.S. agriculture. Today’s update looks at recent news items on trade, with a focus on corn exports, ethanol byproducts and beef.
U.S., Canada Dairy Trade Issues
In a front page article last week at the Milwaukee Journal-Sentinel, Rick Barrett reported that, “Dairy farms in Wisconsin and other states could be forced out of business as early as May because of a trade dispute that has halted the export of their milk to Canada.”
Large Stocks Heighten the Importance of Ag Trade- Focus on China, Mexico
As global commodity markets cope with abundant stocks of corn, soybeans and wheat, export competitiveness has become increasingly important for U.S. farmers. Today’s update takes a closer look at these issues with particular focus on trade developments with China and Mexico.
Farmland Values, Farm Income, and Ag Trade Issues with China
Today’s update summarizes recent news items relating to important components of the U.S. farm economy including farmland values, farm income and trade issues with China.
Farm Bill: Cotton Issues a Significant Concern
The House Ag Committee’s Subcommittee on General Farm Commodities and Risk Management held its second policy related Farm Bill hearing on Tuesday, as lawmakers continue their examination of agricultural programs in advance of the next Farm Bill. Following a farm policy related hearing last week that focused mostly on perspectives from corn, soybean and wheat growers, lawmakers on Tuesday heard perspectives from representatives of the cotton, rice, peanut, sunflower and sugar industries. Today’s update focuses on the cotton issues that were discussed on Tuesday.
Corn Trade Concerns With Mexico as U.S. Trade Policy Unfolds
Today’s update examines recent news articles that address issues associated with NAFTA and U.S. corn exports to Mexico. As the future direction of executive branch trade policy continues to evolve, this uncertainty is potentially weighing on agricultural markets.
Farmland Values, Agricultural Prices, and Farm Income
Today’s update looks at a variety of information sources that highlight recent developments relating to the U.S. farm economy, including variables associated with farmland values, agricultural prices, and farm income.
House Ag Committee Examines Farm Policy, and Farm Credit Issues
On Tuesday, the House Ag Committee’s Subcommittee on General Farm Commodities and Risk Management held a hearing to explore farm policy issues in advance of the next Farm Bill. And yesterday, the full Ag Committee hosted a hearing to review the Farm Credit System. Today’s update takes a closer look at some of the issues raised at these two hearings.
Clean Water Act: Des Moines Water Works Lawsuit Revisited
Recall that back in January, a FarmPolicyNews update discussed an important legal case in Iowa that challenged the general exemption for agricultural storm water discharges under the Clean Water Act, among other issues. The Iowa Supreme Court ruled on a portion of the case in January, and earlier this month, a federal judge dismissed the case. Today’s update provides a brief overview of some portions of the Iowa case and notes that water related issues still lurk in the future for agricultural producers.
House Ag Committee Examines Livestock, Dairy Issues
Last Tuesday, the House Ag Committee’s Subcommittee on Livestock and Foreign Agriculture held a hearing to examine perspectives from the U.S. livestock sector. And on Wednesday, the full Committee took a closer look at economic and policy issues impacting the U.S. dairy sector. The meetings were part of the Committee’s ongoing series of hearings that are setting the stage for the next farm bill. Today’s update provides a brief look at some of the highlights from the hearings last week.
Senate Ag Committee Confirmation Hearing: USDA Nominee Sonny Perdue
Yesterday, the Senate Ag Committee held a hearing to consider the nomination of Sonny Perdue to be Secretary of Agriculture. Issues associated with the Trump Administration’s proposed USDA budget cuts, trade policy, and labor were among the topics discussed at yesterday’s meeting.
Immigration Policy: Rural and Agricultural Concerns
Wall Street Journal writer Justin Lahart reported last week that, “The first impact of President Donald Trump’s changes to U.S. immigration policy will fall on businesses that grow, process or sell food. Recent history shows that labor shortages could drive up prices and labor costs, and hurt profits.”
FAPRI Baseline: Financial Pressure on Farms Likely to Continue
A news release last week from the Food and Agricultural Policy Research Institute (FAPRI) at the University of Missouri indicated that, “The latest analysis of national and global agricultural trends from the University of Missouri indicates continued financial pressure on United States farm sector. Good news in the report includes a modest recovery in grain prices in 2017.”