Record Bull Sale Price and Farmers Struggle with Loans
**Now that's a whole lot of bull! That's the reaction after Schaff Angus Valley set ANOTHER world record for producing a bull named America that sold for $1.51 million.
At Schaff's annual production sale in North Dakota, the
bull received several offers before the final gavel, with a winning bid from Nebraska's Herbster Angus Farms.
Last year, according to agweb.com, Schaff sold a bull for the former world record of $800,000.
America was just $90,000 shy of doubling that amount.
**As nation's farmers struggle to pay back loans after years of low crop prices and a backlash over U.S. tariffs, government data shows the highest default rate in at least nine years.
Agweb.com reports, many ag loans come due around January 1st, to give producers enough time to sell crops and livestock and to give more flexibility in timing interest payments for tax filing purposes.
While the government shutdown delayed reporting, January figures show an overall rise in delinquencies.
**A World Trade Organization dispute settlement panel found China has provided trade distorting domestic support to its grain producers well in excess of its WTO commitments.
Agrimarketing.com reports, China's market price support policy artificially raises Chinese prices for grains above market levels, creating incentives for increased Chinese production of ag products and reduced imports.
This new report is a significant victory for U.S. agriculture that should help American farmers compete on a more level playing field.