More California Water Curtailments and Rural Land Market Continues Surge
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.**State officials in California are warning water-rights holders that they should expect more curtailments during the peak irrigation season in June and July.
That word from the state Division of Water Rights was the latest bad news for farmers and ranchers facing a third straight year of drought.
California Farm Bureau analysts say they’re seeing unprecedented levels of water cutbacks and water-rights curtailments throughout the system.
**Senate Ag Committee Chair Debbie Stabenow is calling on the USDA to address the infant formula shortage for those relying on the Special Supplemental Nutrition Program for Women, Infants, and Children program.
The Michigan Democrat says, "Millions of Americans rely on the WIC program to get baby formula for their children, so the current shortages are extremely concerning.”
USDA is providing WIC families with the flexibility to use their benefits to buy different types of formula products.
**Following record sales in 2021, the rural land market continues to surge this year, offering opportunities for both sellers and buyers of farm, recreational and other rural land.
According to Whitetail Properties Real Estate, low property inventories resulting from last year's strong market point to land values remaining high.
But rising interest rates this year could suggest reduced demand.
For buyers, Whitetail suggests working with rural lenders, thinking long-term, and consider partnership agreements.