2021 Farm Sector Income Forecast, September
The USDA’s Economic Research Service (ERS) indicated on Thursday that, “Net farm income, a broad measure of profits, is forecast to increase by $18.5 billion (19.5 percent) from 2020 to $113.0…
Hurricane Ida Brings Flooding, and Damage to a Grain Terminal -Export Flows a Concern
DTN Meteorologist John Baranick reported earlier this week that, "Hurricane Ida made landfall near Port Fourchon, Louisiana at 11:55 a.m. on Aug. 29, 2021 as a strong Category 4 hurricane…
Canada’s Crop Production Marred by Drought, Brazil’s Next Crop Outlook Improves, as Transportation Costs Rise
Bloomberg writer Marcy Nicholson reported this week that, "Canada, the world’s biggest canola grower and a major wheat producer, forecasts a 26% drop in supplies of its main crops as…
Inflationary Pressures and Drought Jolt Farmers, While Unpredictable Grocery Supply Issues Persist
Earlier this week, Bloomberg writers Kim Chipman and Michael Hirtzer reported that, "Minnesota farmer Jason Knopik didn’t sell corn earlier this year as prices soared, missing out on one of…
Drought Continues to Impact U.S. Crops
Wall Street Journal writer Kirk Maltais reported on Tuesday that, "Drought is blistering key U.S. cash crops, further elevating prices for staples including corn and wheat."
Variables Add to Challenges of Higher Global Food Prices
Financial Times writers Emiko Terazono and Michael Pooler reported this week that, "After enduring the worst drought in nearly a century followed by a bout of cold temperatures, areas within…
Federal Reserve Ag Credit Surveys- 2021 Second Quarter Farmland Values Climb
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 second quarter of 2021.
Grocery Costs of Meats, Poultry, and Dairy Rise in July
Financial Times writer Colby Smith reported on Wednesday that, "The rapid pace of US consumer price increases steadied at a 13-year high in July while month-on-month gains moderated slightly, as…
Chicken Prices Soar, as Tyson Projects Higher Meat Costs Ahead, and Two Rivals Combine
Wall Street Journal writer Jacob Bunge reported on Monday that, "Tyson Foods Inc. projected higher meat costs ahead, as the meat company seeks to pass along elevated prices for animal feed,…
China Seeks Policy to Stabilize Pork Production, as Chinese Soy Imports Fell in July
Late last week, Bloomberg News reported that, "China will initiate a warning guidance system for hog breeders that will encourage them to make changes to their population of sows in…
Recent USDA Reports Provide Perspective on the U.S. Farm Economy
Recent reports from the USDA's National Agricultural Statistics Service (NASS) regarding farmland values, cash rental rates, production expenses, and farm prices provide perspective on the current state of the U.S.…
Kansas City Fed- Strong Outlook for Farm Sector, as Business Groups Seek Restart of U.S.-China Talks
An update yesterday from the Federal Reserve Bank of Kansas City ("kcFED Ag Bulletin") stated that, "Agricultural commodity prices surged in the second quarter amid further increases in economic activity…
World Food Prices Fall in July, as the Supply Outlook for Grain Tightens in Some Regions
Reuters News reported today that, "World food prices eased for a second month in a row in July, reflecting declines for cereals, vegetable oils and dairy products, but remained up…
U.S. Hog Producers and California Consumers, Impacted by State’s Implementation of Animal Welfare Rule
Late last week, Associated Press writer Scott McFetridge reported that, "Thanks to a reworked menu and long hours, Jeannie Kim managed to keep her San Francisco restaurant alive during the…
Biosecurity and Pig Health in Focus to Combat African Swine Fever
Bloomberg News reported this week that, "China is taking hog biosecurity to new levels -- 13 stories in fact."
African Swine Fever Detected in the Dominican Republic, Raising Concerns
Reuters writers Julie Ingwersen and Tom Polansek reported last week that, "The U.S. Department of Agriculture confirmed the deadly hog virus African swine fever in samples from pigs in the…
Bout of Higher Prices for Beef, Chicken and Other Products Could Continue
Bloomberg writer Michael Hirtzer reported this week that, "A little-known market, that of young cattle, is signaling that pricey beef could be here to stay awhile."
Threat of Food Inflation Persists, as Sec. Vilsack Sees Prices Moderating
At the end of last week, Bloomberg News reported that, "Extreme weather is slamming crops across the globe, bringing with it the threat of further food inflation at a time…
Kansas City Fed: Outlook for Ag Economy in 2021 Remains Strong
In an update late last week from the Federal Reserve Bank of Kansas City ("Interest Rates for Operating Loans Rise Slightly From All-Time Lows"), Nathan Kauffman and Ty Kreitman pointed…
China Pork Production Balloons in Second Quarter, While Meat Inflation in the U.S. Climbs
Reuters writers Emily Chow and Dominique Patton reported this week that, "China’s second-quarter pork production surged to its highest in at least seven years, official data showed on Thursday, after producers…