Net Farm Income To Fall By More Than 10 Billion in 2016

With the Agribusiness Update I'm Susan Allen. Hog prices have collapsed to levels far below breakeven reports Purdue Economist. There is worry that there are more hogs headed to market this fall than available packing capacity, and the latest USDA inventory indicates there are more hogs than had been anticipated. These factors are providing a sour taste for the industry's financial outlook through 2017. Chinese Seed Firm Origin Agritech a biotechnology-focused crop seed provider, has announced it's new North American operations in Des Moines, Iowa. According to the company this represents a key step in a series of strategic actions to position Origin as a leading global foundation biotech and seed development company. Over the past six months, the company has also expanded partnerships on biotech traits globally and established a new leadership team. Finally a report by the University of Missouri's Food and Agricultural Policy Research Institute (FAPRI) projects that net farm income will fall by more than $10 billion this year to $69.6 billion despite falling production costs and rise only slightly to $70.3 billion in 2017.