Agricultural Economy

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, […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

Progressive Farmer’s Chris Clayton reported Wednesday that “as Congress looks to craft a disaster package, Republican senators are making the case that disaster aid for farmers should be broader than just those producers hit by hurricanes this fall and include ‘market-related disasters.’” “The U.S. Senate Appropriations Committee held a hearing Wednesday with officials from multiple […]

Successful Farming’s Chuck Abbott reported Thursday that “the farm economy stabilized in the Midwest and northern Plains but weakened in much of the country this fall as producers nationwide confronted high costs and lower commodity prices, said the Federal Reserve’s Beige Book on Wednesday. ‘Agricultural activity was flat to down modestly, with some crop prices […]

More than half of the 70 agriculture economists surveyed in Farm Journal’s Ag Economists’ Monthly Monitor believe that the United States agriculture economy is in a recession, while 75% of those economists surveyed think the ag economy is on the brink of a recession.  “Farmers are seeing heightened volatility in commodity prices as harvest season progresses,” […]

The Des Moines Register’s Kevin Baskins reported Thursday that “John Deere has announced another round of layoffs in the Quad Cities affecting 287 workers, including 80 in Davenport.” “The other layoffs, effective Jan. 3, are of 200 workers at the company’s Harvester Works in East Moline, Illinois, and seven at its Seeding and Cylinder operations […]