Farmer Brand Loyalty Down and Dairy Prices Rebound
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**The loyalty farmers hold for their preferred brand of ag equipment took a sharp turn in 2020.
Agrimarketing.com reports, since the editors of Farm Equipment and Ag Equipment Intelligence launched the first brand loyalty study of farm machinery in late 2010, followed by subsequent studies in 2014 and 2017.
In the first study, 63% of farmers considered themselves "brand loyal," and improved in 2014 and 2017 to 69% and 75%, respectively.
Most recently, only 63% of farmers would describe themselves as "brand loyal," a 12% drop over the past 3 years.
https://www.agrimarketing.com/s/130906
**Most dairy farmers are breathing easier as dairy commodity prices rebound from near record lows in March and April to record highs, in some cases, the past few weeks.
But, according to milkbusiness.com, dairy lenders say now is not the time to relax and assume all will be well.
Their biggest fear is a second wave of COVID-19 this summer or fall, followed by a slowly recovering national economy.
https://www.milkbusiness.com/article/your-dairy-business-ready-for-covids-wave?mkt/
**The International Longshore and Warehouse Union have closed the ports of Los Angeles, Oakland, Seattle, San Diego and other West Coast terminals will be closed for one day, today, in observance of George Floyd and others killed or injured by police.
The National Pork Producers Council says more than 60% of U.S. pork that is exported is sent through West Coast ports.
