Newsweek’s Jasmine Laws reported Tuesday that wholesale “egg prices in the U.S. have fallen to $3.45 per dozen, reaching their lowest level in nearly five months, following a period of price volatility fueled by supply chain issues, bird flu outbreaks, and fluctuating consumer demand.” “Egg prices have experienced extreme fluctuations over the past year. On […]
Agricultural Economy
USDA Economic Assistance Applications Now Open
Reuters’ Leah Douglas reported that “the U.S. Department of Agriculture will on Wednesday begin accepting applications from farmers affected by low commodity prices for economic aid passed by Congress last year, an agency official said on Tuesday.” “The stop-gap government funding package passed by Congress last December included $10 billion for economic assistance, a supplement […]
USDA Economic Aid Applications Expected by Friday
UPDATE (11:30 am EST): Agri-Pulse’s Philip Brasher reports that “Agriculture Secretary Brooke Rollins used National Ag Day on Tuesday to announce the release of $10 billion in economic assistance payments for growers of corn, soybeans, wheat, cotton, rice and other field crops.” “The payments were authorized by Congress in a year-end spending bill in December. […]
Farm Bankruptcies Increased 55% in 2024
The American Farm Bureau Federation’s Samantha Ayoub reported last week that “the U.S. Courts report that 216 farm bankruptcies were filed in 2024, up 55% from 2023. This is still 64% lower than the all-time high of 599 filings in 2019. However, 2024 is the end of a four-year downward trend in bankruptcies, which appears […]
House Budget Plan Requires $230 Billion Ag Committee Cuts
Agri-Pulse’s Rebekah Alvey reported that “the House released a fiscal 2025 budget resolution Tuesday that would direct the Agriculture Committee to cut $230 billion over 10 years, an amount that would likely require a significant reduction in the Supplemental Nutrition Assistance Program. ” “After weeks of talks, the House Budget Committee dropped its ‘one big, […]
Farm Income to Increase in 2025 Thanks to Federal Aid
Progressive Farmer’s Katie Micik Dehlinger reported Thursday that “USDA forecasts climbing farm income in 2025, but it’s due to a dramatic increase in government payments, not better prices or a higher volume of sales. Net farm income, which is a comprehensive measure of farm profitability, is forecast at $180.1 billion, an increase of $41 billion, […]
US Ag Export Volumes Surged 22% in 2024
Reuters’ Karen Braun reported Wednesday that “most global importers last year took advantage of plentiful and cheaper U.S. bulk agricultural commodities, including soybeans and corn, the top-ticket items.” “Milestones were notched among the top U.S. bulk grain destinations in 2024 as average export prices fell by more than one-fifth versus 2023,” Braun reported. “Lower prices […]
Ag Traders, Manufacturers Report Tough Profit Outlooks
Reuters’ Karl Plume reported Tuesday that “grains merchant Archer-Daniels-Midland posted its lowest fourth-quarter adjusted profit in six years on Tuesday on weak oilseed crush margins and uncertainty over U.S. biofuel policy and said it is cutting costs and slashing up to 700 jobs to weather the market downturn.” “Chicago-based ADM said it aimed to cut […]
FTC Sues John Deere Over Right to Repair
Reuters’ Leah Douglas and Jonathan Stempel reported Wednesday that “the U.S. Federal Trade Commission on Wednesday sued farm equipment maker Deere, alleging it illegally drives up repair costs by forcing farmers to rely on its authorized dealer network. The lawsuit argues Deere has unlawfully boosted profits by requiring farmers to use its network of authorized […]
USDA Releases 45Z Feedstock Details, Drops Bundling Requirement
Progressive Farmer’s Chris Clayton reported Wednesday that “less than a week after biofuel groups lamented the lack of details about the Clean Fuels Production (45Z) tax credit, USDA released an interim rule for climate-smart crops being used as biofuel feedstocks that should provide the biofuels industry more clarity on how to move forward.” “The interim […]
2025 Begins with More Ag Industry Layoffs in Iowa
Just a few days into the New Year, the trend in layoffs at agriculture-related companies is continuing, with John Deere announcing layoffs at its Ottumwa, Iowa plant and Bridgestone-Firestone announcing it is offering buyouts at its agricultural tire plant in Des Moines. Agriculture Dive’s Nathan Owens reported that “as crop farmers struggle with income declines, […]
Deal Reached to Avert Second East, Gulf Coast Port Strike
Reuters Lisa Baertlein reported Wednesday that “the union representing 45,000 dock workers on the U.S. East and Gulf Coasts and their employers on Wednesday said they reached a tentative deal on a new six-year contract, averting further strikes that could have snarled supply chains and taken a toll on the U.S. economy.” “The International Longshoremen’s […]
‘High Likelihood’ of Another East, Gulf Coast Port Strike This Month
Supply Chain Dive’s Alejandra Carranza reported in mid-December that “with less than a month before the International Longshoremen’s Association’s contract with the United States Maritime Alliance is set to expire, shippers want to know: Will there be a strike?” “A major development in the prolonged negotiations occurred (in December) when President-elect Donald Trump voiced his […]
US, Global Ag Economies Face Uncertainties Heading Into 2025
CoBank reported earlier this December that “the U.S. continues to benefit from solid economic growth, low unemployment and moderating inflation. From today’s vantage point, the U.S. economy seems likely to continue on that trajectory into 2025. However, the outlook for the rural economy is more volatile and uncertain. Rural industries are disproportionately exposed to federal […]
US Wins GMO Corn Dispute with Mexico
Bloomberg’s Michael Hirtzer reported this past Friday that “the US has prevailed in its dispute with Mexico over genetically modified corn that threatened shipments to America’s top customer of the grain.” “An arbitration panel under the USMCA trade agreement issued its final ruling agreeing with the US that Mexico’s efforts to halt imports of GMO […]
Nearly All US Farms Are Family Farms, USDA Says
AgWeb’s Margy Eckelkamp reported earlier this week that “family farms still dominate a majority of U.S. farms,” having accounted “for about 96% of total farms and 83% of total production in 2023” in the United States. “Released on Dec. 10, (the USDA’s Economic Research Service) published its 2024 edition of America’s Farms and Ranches at […]
Two Judges Block Kroger-Albertsons Merger
The Cincinnati Enquirer’s Alexander Coolidge reported Tuesday that “two judges, one federal and another in Washington state, ruled on Tuesday against Kroger’s $25 billion takeover bid for Albertsons, granting court orders blocking the deal.” “After holding a more than three-week ‘mini-trial’ in August and September, U.S. District Court Judge Adrienne Nelson in Portland, Oregon, decided the […]
John Deere Adds 112 More Iowa Layoffs
The Des Moines Register’s Kevin Baskins reported this past week that “the layoffs continue at John Deere as the agricultural and construction equipment giant announced another round Tuesday at its Waterloo Works, the company’s largest plant. The company plans to lay off 112 workers effective Jan. 5, according to the state’s Worker Adjustment and Retraining […]
Cargill, Tyson Announce Significant Midwest Layoffs
Reuters’ Tom Polansek reported Tuesday that “global trading house Cargill plans to permanently terminate about 475 employees in Minnesota, home to its corporate headquarters, starting on Feb. 5, according to a company letter released by the state on Tuesday. Cargill has said it plans to cut around 5% of its staff after revenue slumped in its […]
Mexico Suggests Retaliatory Tariffs After Trump Threat
The Associated Press reported Tuesday that “President Claudia Sheinbaum suggested Tuesday that Mexico could retaliate with tariffs of its own, after U.S. President-elect Donald Trump threatened to impose 25% import duties on Mexican goods if the country doesn’t stop the flow of drugs and migrants across the border.” “Sheinbaum said she was willing to engage […]