Reuters News reported last week that, “China reported an outbreak of African swine fever in Xinjiang region, the agriculture ministry said on Wednesday.”
Farm Policy News
Suez Canal Blockage- Grain, Livestock Impacts Noted
Last week, New York Times writers Vivian Yee and Peter S. Goodman reported that, “Trying to convey the sheer scale of the nearly quarter-mile-long container ship that has been stuck in the Suez Canal since Tuesday evening, some news outlets compared it to the length of four soccer fields. Others simply called it gigantic.”
USDA Announces “Pandemic Assistance for Producers,” New CFAP Aid
Bloomberg’s Mike Dorning reported on Wednesday that, “The Biden administration announced $12 billion in new farm aid, and said it will seek to expand Covid assistance to producers that weren’t covered under the Trump administration’s pandemic relief programs.”
Kansas City Fed: Improvement in Ag Economy Strengthens Credit Conditions
In an update this week from the Federal Reserve Bank of Kansas City (“Farm Lending Pullback Continues”), Cortney Cowley and Ty Kreitman stated that, “Agricultural debt at commercial banks eased further at the end of 2020, and loan repayment problems moderated slightly.”
Recent CARD Paper Discusses China’s Hog Inventory, with Implications for Corn Demand
Writing recently in the CARD (Center for Agricultural and Rural Development) Agricultural Policy Review, from Iowa State University (“Is China’s Hog Rebuilding Complete? Reconciling Inventory and Price Data“), Dermot Hayes, Xi He, and Wendong Zhang stated that, “The African swine fever (ASF) outbreak that started in August 2018 wiped out 40% of China’s sow inventory.
Caustic Round of U.S., China Talks Conclude, as Chinese Corn Buying Continued
William Mauldin reported in Saturday’s Wall Street Journal that, “High-level talks between the Biden administration and Beijing that veered into acrimony put the U.S.-China rivalry in sharp relief, complicating efforts by the two powers to erect guardrails and keep tensions from spiraling further.”
House Passes the Farm Workforce Modernization Act on Bipartisan Vote
Wall Street Journal writer Siobhan Hughes reported on Thursday that, “The House passed two bills providing pathways to citizenship for certain categories of immigrants living in the U.S. illegally, in a show of bipartisan support for narrow measures that still risk getting tied up in a long-running impasse over how to repair the immigration system.”
Chinese Corn Demand– Some See More Purchases as a Possibility
Bloomberg News reported on Wednesday that, “China, the biggest corn consumer after the U.S., is still short of the feed grain, and more overseas purchases are likely.”
African Swine Fever in China Continues to Impact Markets
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.”
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.”