Agribusiness Update for Monday 2/11/13

This is the Agribusiness Update...I’m Greg Martin...

USDA is releasing new 10-year ag projections this morning. USDA’s Agricultural Projections 2022 are published each year in February and they cover crop and livestock commodities, agricultural trade and aggregate indicators through 2022. They are not a forecast - but a conditional, long-run scenario based on specific assumptions about farm policy - with normal weather assumed through the projected period.

Ag Secretary Tom Vilsack says the ethanol industry plays a critical role in rural America’s success - as it increases farm income and exports, supports more than 380-thousand quality jobs and provides consumers with a fuel choice and cost savings. He was speaking to the Renewable Fuels Association’s annual National Ethanol Conference last week.

A recent study of 12-hundred beef and dairy producers across the U.S. shows 76-percent support the beef checkoff. Eight of 10 producers say the beef checkoff has helped contribute to a positive trend in beef demand. Also - seven of 10 producers say the checkoff contributes to the profitability of their operations - is there for them in crisis and represents their interests.

That’s today’s Agribusiness Update from the Ag Information Network.